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Earlier this year, two South Loop developments — The Lofts at Roosevelt Collection and the Lexington Park Condominiums — were telling us that they’d have units closed and models open sometime in May. May came and went, as did June and July, and August will be over before we know it.
It took a while, but we finally got an explanation for Roosevelt Collection’s delays. But what about Lexington Park (at right, as it looked back in March)? The Chieftain Group’s new 35-story high-rise at 2138 S Indiana Ave certainly appears to be far enough along to handle occupants, and its Web site still touts tower deliveries in “early 2009,” but to date not a single tower condo has closed. (For comparison, look at Silver Tower, where approximately 20 homes have closed despite significant work still underway inside and out.)
The reason, says sales manager Britta Rivera, is that Lexington Park is still waiting on the city to deliver certificates of occupancy. Many of the 300-plus units are finished, as are the common areas, and the designer hired to put together the building’s model is itching to break the staging furniture out of storage, she says.
Although she isn’t certain when the certificates will arrive, Rivera is hopeful that they will show up in time to start closing homes by the end of the month.
Lexington Park’s site advertises one-bedrooms starting in the low $200s and two-bedrooms starting in the low $300s. Only one unit, a 656 square-foot one-bedroom, surfaces in an MLS search at a price of $209,000.
Related posts:
- Lexington Park Condominiums sales center shifts to Michigan Avenue
- All quiet at Lexington Park Condominiums
- Lexington Park, Roosevelt Collection to open models, start closings by late spring
- Urban oases: the parks of Streeterville
- 600 North Fairbanks, Metropolitan Tower, Joffrey Tower earn downtown awards
{ 4 comments }
A few months ago while looking for a new condo, I put down a $1k deposit to hold a unit that I liked here. I was told the certificate of occupancy would be ready by August 1 and I would be able to close immediately around then. Boy am I glad now that I backed out in time, I had a sneaking suspicion that something would delay the closing. The building looks nice, but something is clearly not moving along like how they had planned. It’s like a ghost town still at Cermak/Indiana ave.
I’m a buyer at Lexington Park Condos. I’m delighted that things are moving towards closing in the tower. My walk-through will take place next week (September 18th)! Of course this is wonderful news. It seems that I will be moving in next month. I love the floor plan and finishes in my condo and look forward to enjoying the building and the neighborhood.
Welcome to the neighborhood Margo ! There are so many
“under wraps” development going on for S. Michigan Ave (Motor Row) & Cermak that I think the news for 2016 on Oct 2nd will start the boom. If Chicago does not get it, the development will happen, but just not as fast.
Margo,
Which lender was able to approve your loan? I am still trying to close on a loft unit here.
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