New West Realty has reached the 70 percent sold mark at Paramount Lofts, a 207-unit conversion of the former W. A. Wieboldt and Company’s Midwest Store, at 130 S. Ashland.
More than 145 lofts have been sold at the building, which is scheduled for first occupancy in fall of 2005. The units have one or two bedrooms, one to two baths and 546 to 1,328 square feet, base priced from the $180s to the $350s.
Ted Mazola, president of New West, said that in addition to the historic building’s character, pricing has been the key to quick sales.
“Paramount Lofts offers great architecture, well-designed floor plans and a range of prices for any buyer,” said Mazola, who is co-developer with Ashland Developer Group, LLC on the project.
The building was designed by Graham, Anderson, Probst and White, the architects behind the Wrigley Building and many of Chicago’s historic structures. Renovation architects Bauhs Dring Seglin Main, Ltd. added two glass-walled open-air courtyards in the center of the building and several tiers of residences overlooking this green space.
The developers are building nearly 50,000 square feet of commercial space on the ground floor. Around 100 indoor parking spaces will be provided for the condominium owners in the building’s lower level. Another 150 parking spaces will be added in a new garage structure planned for the rear of the property.
The units have exposed concrete beams, 14-foot ceilings, exposed ductwork, gas fireplaces, hardwood floors, GE appliances, Moen fixtures and some balconies.
A sales center is open on site, at 130 S. Ashland.