The building was topped off months ago, and I’m ashamed to report that we still don’t have an updated photo of Marquee at 1454 S Michigan Ave in the South Loop. Developer Sedgwick Properties is currently offering a couple of incentives, including an offer to “live free all summer long.” Sales agent Norge Clemente from Koenig & Stray GMAC Real Estate says that buyers will be able to move in immediately and delay closing on units for two or three months.
Recently, I’ve been hearing a lot of developers and agents mention the difficulty of getting buyers to sign contracts for condos in developments that are either under construction or that have yet to break ground. This incentive seems to reinforce the notion that buyers in this market need material evidence that developers will deliver on their end of the deal.
The other incentive being offered at Marquee is $15,000 off of two- and three-bedroom corner units in tiers 01 and 04 on the floor plate. The least expensive of those corner units is a two-bedroom priced in the $350s, and the highest is a three-bedroom on the northeast corner priced in the low $500s.
Clemente says that 27 of the 208 units in the building are still available. Many are ready for immediate deliveries, as people are living in the lower floors, while some interior construction is still being done on the upper floors. Garage parking is an additional $35,000.