CondoShark: Short sales at Ontario Place

Ontario Place, 1 E Erie StAccording to CondoShark.com, some of the most significant price changes on short sales and foreclosed homes in River North are located in one building: Ontario Place, located at 10 E Ontario St. Six of the neighborhood’s 10 biggest reductions are inside the 49-story, 467-unit high-rise, with prices dropping 31.6 to 45.5 percent per unit.

These three units represent the largest price drops at Ontario Place by percentage:

  • Unit #3803: a one-bedroom / one-bath with 995 square feet; was $550,000, now $299,000 (a 45.5-percent reduction). This home, marketed by American Invsco, is back on the market after its previous buyers canceled their purchase. The former model unit features a Viking range, granite countertops, marble bath finishes, and in-unit washer / dryer. The home comes with an indoor parking space.
  • Unit #3609: a one-bedroom / one-bath with 995 square feet; was $400,000, now $219,000 (a 45.3-percent reduction). This home, marketed by Century 21 Universal, sold in 2005 for $423,800. It has stainless-steel appliances, hardwood floors, and one parking space.
  • Unit #3104: a studio with 765 square feet; was $285,000, now $175,000 (a 38.6-percent reduction). This home, marketed by Chicago Realty Associates, has three closets including one walk-in, a 23-foot-wide balcony, and parking available for rent or purchase.

The Loewenberg-Fitch-designed tower was completed in 1983. American Invsco began converting apartments to condominiums in 2005.

Visit CondoShark.com and ShoreShark.com for more details on deals in select Chicago neighborhoods and North Shore suburbs.

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