Enterprise feels pinch of a slower market at Museum Park

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Try as I might, Yo’s truly just can’t let go of South Loop Week. So yesterday I took a hike down to Museum Park to see how The Enterprise Companies’ little project is coming along. Above is an early construction photo of One Museum Park, which is virtually sold out. Below is the model for the building, designed by Pappageorge / Haymes.

Click for larger imageWe hear that the hyperactive South Loop market is slowing a little, so we put this to a sales agent, who told us that the neighborhood has indeed slowed down, but he thinks it’s reflective of the broader slowdown in the Chicago market. Last year Enterprise sold 1,200 units and this year the developer is on track to sell between 650 and 700. The company says last year was a banner year in home sales, but home sales at Museum Park are still 5 to 7 percent lower than in 2004.

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