What we know: SoNo

SoNo, 860 W Blackhawk St, ChicagoGoogle tells me that a lot of people come to Yo searching for info on SoNo. Smithfield‘s 27-story tower, located at 860 W Blackhawk St on the Near North Side, often comes up in conversations about price cuts at new-construction developments, due in part to @properties‘ aggressive promotions over the past year.

For whatever reason, we’ve never had a lot of luck in our efforts to cover SoNo, but there’s enough info floating around out there to give you a pretty good indication of where things stand, sales-wise.

Way, way back in the day, SoNo’s one- to three-bedrooms were priced from the $270s to $570s. According to Redfin‘s sales records (which aren’t comprehensive, mind you), 115 of SoNo’s 200 homes have closed since December 2008, including one-bedrooms with 788 to 1,196 square feet selling from the $240s to $400s, two-bedrooms with 1,416 to 1,436 square feet selling from the $390s to the $630s, and a couple of three-bedrooms with 1,656 square feet selling in the $480s and $490s. One 2,200 square-foot unit, presumably a combo unit, has also sold for $700,000.

At least four homes are under contract, according to Redfin.

Since @properties chooses not to list all available units at its large, new-construction projects, it’s not easy to gauge a full price range for SoNo’s 80 or so unsold homes from the MLS alone. The 13 condos currently listed range from a one-bedroom with 796 square feet, priced in the $250s, to a two-bedroom with 1,436 square feet, priced in the $440s. Estimated monthly assessments on these homes run from around $330 to close to $500 per plan.

A couple of closed one-bedrooms are also available to lease for about $2,000 a month.

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