I called Michael Battista of Jameson Real Estate this morning to get an update on River North’s other loft project, the 154 Lofts on West Hubbard. It turns out that the development’s last unit just sold, so it looks like Park Kingsbury is the only place where you’ll find a new loft in the neighborhood for the time being.
Battista did have a small update about another project, Stillpoint Development‘s Marquette Row condominiums at 675 – 693 N Peoria St in River West. Stillpoint raised price points by about $20,000 last year, but after months of limited success – one home has gone under contract in the past five months, by my count – the developer decided last month to return to its initial price range of the $320s to the $570s.
Nine two-bedroom homes from Marquette Row’s second phase are still available from the $320s to the $480s and can be ready for delivery within 60 days, Battista says. Another eight two- and three-bedroom condos located in the project’s fifth and final building are under construction and should be ready for occupancy around the beginning of next summer.
Will the adjustments be enough? Despite an increased interest at Marquette Row since the price reductions and a willingness on the developers’ part to negotiate further, Battista says that none of the more than 20 showings he’s had at the project in the past month have generated acceptable offers.
– Rate and review Marquette Row at NewHomeNotebook.com.