Park Kingsbury aims for late '09 deliveries

Park Kingsbury Luxury Lofts, 678 N Kingsbury St, Chicago

I think we’ve all assumed that the construction timetable shifted for Park Kingsbury Luxury Lofts at some point in the past nine months, but I hadn’t heard anyone mention a new target date for first deliveries until today.

According to Jameson Real Estate agent John Ketner, the Cataldo / Marovitz Group hopes to have a few of its 27 lofts at 678 N Kingsbury St ready by the end of 2009. Developers had hoped to have the River North project ready by the end of this year or the beginning of 2009, but it doesn’t seem like there’s been much work at the building over the past year, aside from the construction of one model unit.

A new price sheet shows seven lofts under contract, with the remaining 20 priced from the $470s to $1.57 million. The unsold homes have two to three bedrooms, two to four bathrooms, and 1,190 to 3,109 square feet of living space.

Ketner says interior demolition should begin within the next couple of weeks, and full-scale construction (including work on the new garage and terrace to the south) will probably commence after the new Jameson sales team makes a couple more sales. Those sales could happen by the end of the year, based on the surprisingly brisk traffic they’re seeing at the sales center, he says.

With the sale of the last unit at the 154 Lofts of West Hubbard, Park Kingsbury appears to be the only new loft project on the market in River North.

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