Sedgwick Properties‘ Terrazio, 1935 S Wabash Ave, had almost fallen off my radar until a couple weeks ago, when I received word of a grand opening party Jameson Real Estate was throwing at the mid-rise. I wasn’t able to make that event, but I did meet up with Jameson agent Mike Hulett a few days later to take an early look inside the development.
In order to compete in an admittedly tough South Loop market, Sedgwick opted for several upgrades during the construction process, including an improved exterior with cornices and natural stone all the way across the retail level.
Kudos to the developer.
I have yet to see this project in person, but the upgrading to stone is a nice touch. This building is such an improvement to the ugly shed that formerly occupied this site.
Although I’m partial to highrises, nicely conceived projects like this (without the standard Chicago parking podium) will go a long way towards enhancing the neighborhood over the years as it continues to develop.
What is the current % sold ?
SMR:
Mike says the development is just over 50 percent under contract. I’ll have some more video up later today in which he talks about sales at the development.
Err, make that tomorrow morning. 🙂
Hey Joe,
I have not heard a peep about ECO 18 in about 1 year.
Any news on them ?
SMR:
I don’t think anyone sees Eco18 going up anytime soon. Jameson has pulled all of Eco18’s listings and all mention of the development from its Web site. (The development’s official site is still alive, although it hasn’t changed in quite some time.) Less than 20 of its 93 units were under contract as of October ’08, which is really the last time we’ve heard anything from the developer.