It appears that Peak Development has dropped prices at Converge by $40,000 to $60,000 in hopes of selling the building’s remaining two-bedroom units.
Technical difficulties kept me from talking to Danny Glick of @properties for more than a few seconds, but that was enough time to learn that the six unsold units at 744 W Fullerton Ave are now selling from the $410s to the $450s. That’s less than the $470s-to-$490s range still listed on the @properties site, or the $480,000 pre-opening incentive we reported during the project’s infancy.
Branching out into the surrounding neighborhood, the two-bedroom condos northwest of Converge at 919 W Altgeld St start in the $520s, while the two-bedrooms two blocks west at 926 W Fullerton Ave start in the $610s, so Converge is bringing up the rear, price-wise. Will this latest adjustment be enough?