What’ll become of Tier 01 now that Walton on the Park is ready to deliver?

Walton on the Park, 2 W Delaware Pl, Chicago

Buyers weren’t keen on the 01 tier at Walton on the Park, 2 W Delaware Pl, during the pre-construction phase. Will they change their minds once they finally step inside one?

Three of the tower’s 25 01 units went under contract between March and October 2007; the other 22 have been on the market for 1,192 days and counting. The 1,920 square-foot three-bedroom / three-baths, located on the tower’s northeast corner, are listed from $1.25 million on the ninth floor to $1.56 on the 31st. Unit #1401 (seen here) now serves as one of the tower’s three furnished models and is available for $1.35 million. (The home was originally listed for $1.31 million but was adjusted to reflect its upgraded finishes.)

Keeping in mind that nothing’s moving at Walton on the Park right now, what is it about this tier that made it so hard to sell, even in the good old days? Could it be its location within the tower? For years, The Enterprise Companies and Mesirow Financial Real Estate marketed Walton on the Park as a two-tower development, and the majority of this home’s exposures would have opened up directly onto the building’s twin to the north. The views to the east aren’t that great, either, unless you want to see Ten East Delaware up close. Add in the difficulty of selling three-bedroom condos in a tough market, and maybe we’ve found an explanation.

Or maybe buyers simply didn’t dig the floor plan. I’ve embedded it below — tell us what you think.

Walton on the Park, 2 W Delaware Pl, Chicago Walton on the Park, 2 W Delaware Pl, Chicago

Walton on the Park, 2 W Delaware Pl, Chicago Walton on the Park, 2 W Delaware Pl, Chicago

Walton on the Park, 2 W Delaware Pl, Chicago

COMMENTS

WORDPRESS: 3
  • Jack 8 years

    what always amazed me about developers is why they don’t design these 3 bedrooms to easily be converted to 2 bedrooms…I think many people out there would very much desire a 3rd bedroom combined with living space to make a much grander space…. and then relatively easily convert it back if needed for resale…

  • gts 8 years

    Kitchen is cramped for that price point. Also, why make the master right off the living room? that should have been the spot for the “guest suite.” The way this is set up your closest bathroom to the living space is the master- which is not what I want in a 3 bedroom million+ condo. Oh, and I hate washer/dryers in a closet with no extra space (obviously forgiveable for a 2/2 for 340K- but not at this price point). Ultimatly, I’m sure the view was a hugh factor

  • dave 8 years

    I have to admit, I haven’t been inside the building yet. However, I visited the sales center years ago and I wasn’t sold on the product. It appeared they were leaning toward a traditional building, which is fine, but they did so within the confines of a contemporary structure. I didn’t like the concept.

    I have no idea how the corridors or lobby turned out, but from the photos above, I’m getting that traditional/transitional vibe again which I believe is more suited for the architecture of 10 E. Del.

    Given the close proximity of the two buildings, the different architectural styles and, I believe, relatively similar price points, I would have marketed Walton on the Park differently.