Crain’s reported in July that the converted high-rise Pearson on the Park, 222 E Pearson St, was facing foreclosure. Today I followed up with with Pamela Hogan, a sales associate with Jameson Real Estate, to see where things stand now with the Streeterville tower.
Hawthorne Development’s remaining units are, in fact, in receivership, Hogan says. A restructured pricing model was expected to arrive “some time in October,” but as she’s waiting for final word herself, Pamela suspects it may take until November. Once it’s back in the game, Jameson will have to compete with a few resales in the building, ranging from one-bedrooms starting in the $200s to three-bedrooms listed as high as $1.3 million.