R+D659, Mesirow Financial Real Estate‘s 15-story high-rise in the West Loop (or the “New West Loop” or “New Loop,” according to some recent ads) is set to begin the first round of closings this week, according to Dominic Adducci, Mesirow’s managing director of real estate. Adducci says buyers could begin moving in to floors four through eight as early as next weekend.
Adducci says the model unit won’t move into the building until the beginning of February, but because all of the unsold homes are being finished out, buyers will be able to look around various units to get a sense for the space and to look at the different packages of finishes.
“We’ve provided one of five upgrade packages in each of the unsold units,” Adducci says. “We did kind of a market responsive level of upgrade. We took the average amount of upgrade people were putting in, and we did it because we had to make decisions as construction advanced.” Adducci says people are still selecting a pretty high level of upgrade, with most buyers requesting upgrades in tile, cabinets and flooring.
At this point, Mesirow isn’t offering any buyer incentives or cutting the prices, which means that prices still range from the $270s to the $750s. Instead, they’re offering 1.5 percent discount to current interest rates on a 30-year mortgage with National City Mortgage. (Ratelicious!)
Adducci says closings on the highest floors will begin in February, and construction on the building will be completely finished by March.
NewHomeNotebook:
• Rate and review R+D659
Related posts:
• R+D659 latest building to get a touch of red (Oct. 20)
• Deal of the day: R+D659 offers 1.5 percent rate cut (Jan. 30, 2007)