Silver Tower to sell inventory in bulk

Silver Tower, 303 W Ohio St, ChicagoWhy search for 82 buyers when you need just one? Bank of America has opted to sell the unsold inventory at Silver Tower, 303 W Ohio St, in bulk, and could stand to get as much as $16 million, or $195,000 a unit, as a result, Crain’s says.

Since going into receivership last year, Silver Tower has seen 72 closings, bringing the sales total to 147 units in the 229-unit high-rise. (Redfin‘s records show closings at the building since January 1, at prices ranging from $300,500 to $590,000.) Another 15 units are under contract.

Jameson Sotheby’s, the exclusive brokerage for Silver Tower, has 22 one-bedroom units listed from the $220s to $290s, 16 two-bedrooms listed from the $340s to $420s, and two three-bedrooms listed in the $590s and $620s. Jameson will continue to market units to individual sellers while CB Richard Ellis attempts to sell them in bulk, the article says.

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