Will The Lumiere's price cuts light up sales?

by Joseph Askins on 6/24/09

The Lumiere, 2408 W Rice St, Chicago

The latest reductions lighting up my inbox are the ones @properties has just rolled out for DenMax Corp’s Lumiere, the four-story building at 2408 W Rice St on the border of Humboldt Park and the Ukrainian Village.

In February @properties agent Mike Vesole let us know that half of the building’s 12 three-bedroom / two-baths were under already under contract. At least four have closed since then, at prices ranging from the $430s to $490s, according to Cook County sales records.

The five homes left on the MLS this week dropped in price by $50,000 to $100,000, or 11 to 21 percent from the homes initial list prices. The homes now range from the $340s for a second-floor condo to the $430s for a fourth-floor “penthouse” with a deeded roof deck. The listings lack unit sizes, but Vesole has said in the past that the Lumiere’s homes have roughly 1,350 to 1,400 square feet.

Finishes include Caesarstone countertops, Viking appliances, and porcelain baths with steam showers, rain and body sprays. You can see some of those finishes up close in the video below, which Mark shot with Vesole back in October.

One garage parking space comes with each unit, and additional spaces sell for $20,000 apiece.

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