Vetro rolls out new post-auction prices

Vetro, 611 S Wells St, Chicago

Buyers and gawkers spent the week wondering how far prices would drop at Vetro, 611 S Wells St, following Saturday’s auction of 45 condos. Now we have our answer.

This afternoon, Brian Morand from Vetro’s Baird & Warner sales team passed along the price points for the tower’s remaining units. The changes differ from unit to unit and floor plan to floor plan, but the examples Baird & Warner offers in its new ads suggest reductions of 19 to 25 percent. Each home still comes with one parking space, something that once sold for as much as $37,500.

The new price points are:

One-bedrooms:

  • 04 tier (PDF): 1,002 square-foot one-bedroom / 1.5 baths with dens, priced from the $250s to the $260s, or $251 to $260 per square foot

Two-bedrooms:

  • 03 tier (PDF): 1,667 square-foot two-bedroom / 2.5-baths, priced from the $390s to the $450s, or $239 to $273 per square foot
  • 05 tier (PDF): 1,133 square-foot two-bedroom / two-baths, priced from the $280s to the $310s, or $247 to $274 per square foot
  • 06 tier (PDF): 1,343 square-foot two-bedroom / two-baths, priced from the $310s to the $330s, or $232 to $246 per square foot
  • 07 tier (PDF): 1,525 square-foot two-bedroom / 2.5-baths, priced from the $370s to the $420s, or $243 to $275 per square foot

Two- and three-bedroom penthouses:

  • 02 tier (PDF): 2,067 square-foot two-bedroom / three-baths, priced from the $600s to the $610s, or $293 to $298 per square foot
  • 04 tier (PDF): 2,003 square-foot three-bedroom / three-baths, priced in the $580s, or $290 per square foot
  • 05 tier (PDF): 1,924 square-foot two-bedroom / 2.5-baths, priced in the $560s, or $291 per square foot

The average price per square foot prior to this week was $353, according to an auction recap from Crain’s. The 45 auctioned units sold for an average of $258 a square foot.

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