For almost a year, we’ve watched sales figures for Avenue East, 160 E Illinois St, grind to a halt and inch backwards. Now, in a move that seems both desperate and necessary, Susan Duffey from Keller Williams Realty tells me that prices will be reduced by as much as $100,000 on certain units in the Streeterville high-rise until September 14.
That $100,000 doesn’t all come off the listing price, of course. Duffey says that as much as $70,000 will be taken off the prices of homes in tiers 07 and 08, and parking, which is normally $45,000 to $60,000, will be sold at half price.
In the 07 tier, 1,100 square-foot two-bedroom / two-bath units normally listed from the $550s to the $570s will now be priced from $510s to the $550s. In the 08 tier, 1,716 square-foot two-bedroom / 2.5-bath units that had been priced from the $900s to $1.80 million will be offered from the $820s to $1.75 million.
Duffey says that 20 two-bedrooms and two one-bedroom condos are still available in Avenue East, which is exactly what I reported in June.
– Rate and review Avenue East at NewHomeNotebook.com.