The high-rise condos at 757 N Orleans in Chicago’s River North neighborhood first came to our attention back in March of 2006.
We wrote about the 198-unit project frequently while it was under construction, since we could monitor progress from our office window.
The project has offered lease-to-own programs, “huge price cuts” and a variety of incentive offerings over the years. It is currently offering a number of incentives “to the next 20 buyers.”
According to the Cook County Recorder‘s office, 66 units have closed at 757 Orleans, putting the project exactly at the one-third mark.
Any idea when the construction loan comes due? I would have to imagine with the low number of sales that this may become an issue in the near future.
Any idea why it’s lagging in sales so much? It seems to be a solid development.
Stronger competitors in better locations would be my guess.