After a week of troubling news reports, you’d be forgiven for thinking that things were falling apart for Pure, the new 67-unit high-rise at 24 S Morgan St in the West Loop. The Chicago Journal reported on Wednesday that the president of Sunrise Equities had disappeared, and the Sun-Times followed up on Saturday with news that investors had filed a suit against the company.
We’re getting an official statement about Pure’s future later this week, but I did learn this afternoon that someone new is steering the ship and hopes to have it back on course shortly. Deliveries – which were supposed to begin this month – could be delayed by as long as 60 days, but they will happen, according to a source working with the project, and construction crews will continue to put the finishing touches on the building.
On Friday I wondered if Rubloff had taken over marketing for Pure after the developer’s disappearance, since we had always gotten our news from Sunrise’s in-house sales team prior to all this. Not so: Apparently Rubloff has always been the project’s broker of record – it’s just not obvious from Pure’s Web site or promotional materials – and will continue to be for the foreseeable future.
None of this is all that surprising, given how close Pure is to completion. People will end up living there, one way or another. But what does this mean for the little things Sunrise promised – you know, amenities like the Pure Portal or the Skai Lounge?