“Do you think someone who has a contract for a $450,000 unit that they signed two years ago is going to close? They aren’t going to close, so why alienate the marketplace? We have to do the responsible thing.”
– Citta Development principal Jack Berger, explaining why he canceled 50 contracts at Mondial, the completed but empty high-rise at 900 W Huron St in River West. According to Crain’s, Berger and RDM Development President Robert Mosky, developer of the Trio tower at 670 W Wayman St, are in talks with their lenders to convert their projects from condos to apartments.