Bob Mosky – the RDM (Robert D. Mosky) of RDM Development – called me on Monday to offer an update on Trio and Vision. My apologies for being slow to report the conversation.

Mosky reports that the mid-rises at Trio are slowly nearing a sellout. Of the 109 units in the project, 82 are closed, 3 are subject to binding contracts, and 7 contracts are pending approval.

Thirty units are under contract in the 100-unit high-rise. The granite for the lobby was recently delivered, models have opened, and a grand opening should occur within the next several weeks.

Despite rumors of a rental conversion at Vision, RDM is “sticking with the sales program. Vision is about one-third sold. Only one commercial space remains unspoken for. Jameson will begin actively marketing the project within the next two weeks.”

There are still a lot of buyers out there, according to Mosky, but “until people see the economy picking up they’re reluctant to pull the trigger. Price doesn’t seem to be the issue in our projects, and we’re competing on location and quality rather than on price. I would like to see the government offer a larger tax credit. Eight thousand isn’t enough in a higher-priced market like Chicago.”