I heard back from Bob Kohler of the Matt Garrison Group yesterday afternoon, after I had written about RDM Development’s price reductions at Marquette Village. He filled in a few gaps in my report and answered some of the questions I had about the project.
RDM has built 10 single-family homes near the intersection of 74th and Rockwell streets in Marquette Park, Kohler says. One of those has sold, and another two went under contract after the developer lowered prices. Two homes do not have finished interiors and are still ripe for some customization and upgrades.
Although Marquette Village technically is not a multi-phased project like the other mega-developments we see on the South Side, RDM wants to expand the project by no more than 10 units at a time until the market picks up, Kohler says. If the adjusted prices attract buyers, a new round of 10 could break ground and be ready for delivery in six to eight months.
Marquette Village should have 139 three-bedroom / 2.5-bath homes when complete.