Construction on phase one of CA23, the new 48-unit mid-rise at 23 N Aberdeen St in the West Loop, should be completed by the end of the year, according to Geoff Ruttenberg, principal and CEO of The Brixton Group. Ruttenberg says first closings should take place in December, and he hopes construction on Phase 2 will begin in February.
I spoke with Ruttenberg today and asked him how he thinks CA23’s pricing stacks up to the West Loop competition.
“I think in terms of price per square foot, we’re actually really good in terms of what’s going on [in the West Loop],” he says. “We’re almost 2,000 square feet per unit, so obviously by pure size we’re going to be more expensive than the bulk of what’s down there, because most of what’s down there is 750 to maybe 1,200 square feet,” Ruttenberg explains.
Ruttenberg says a more apt comparison would be with townhouses, because CA23’s full-floor units will have 1,900 to 4,000 square feet. Prices for the remaining condos in Phase 1 range from the $650s for a two-bedroom home to about $1.6 million for a 4,000 square-foot penthouse.
– Rate and review CA23 at NewHomeNotebook.com.
