Mostly one-bedrooms with dens left at VB1224

VB1224, a loft conversion at 1224 W Van Buren St in the West Loop, Chicago

When I visited VB1224 in late January, @properties agent Beth Repta hinted that some price reductions were in the works, to kick-start sales in the slow winter months. According to @properties agent Peter Boland, the developer did just that, adjusting the prices for the remaining homes by 10 to 15 percent per unit.

Boland says that sales have been pretty strong in recent months. “It’s actually been pretty steady because we’re the cheapest new-construction in the West Loop,” he says.

The price reduction brings the entry-level one-bedrooms down into the $250s, which Boland says are among the most popular units. “The $260s range stuff is what people are looking for, particularly the people that can qualify for the $8,000 tax credit,” he explains.

About 70 percent of the 189 units in the converted paper mill have been sold, according to Boland, which means that about 57 homes are still available. Boland says that many homes have been completely finished out and can be ready for delivery in less than 30 days.

Related posts:
Viewing the lofts and amenities at VB1224 (Jan. 27)

Sales center for VB1224, a loft conversion at 1224 W Van Buren St in the West Loop, Chicago Furnished model at VB1224, a loft conversion at 1224 W Van Buren St in the West Loop, Chicago

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