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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