235 Van Buren parking sells out at auction

When 235 Van Buren completed the sellout of its 714 condo units earlier this year, 63 parking spaces remained unsold in the 11-story, 570-space parking garage.

All 63 spaces were sold, primarily to individual buyers, at an auction held on June 5. The selling prices were reportedly in the low- to mid-$20s, well below the original asking prices.

Monthly assessments on a parking space at 235 Van Buren were $51 a month and 2012 real estate taxes were approximately $60 a month. Spaces in the garage were renting for $250 a month, but garage parking near the building typically fetches upwards of $350 in monthly rents.

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