The St Clair at City Front Plaza is now 40% sold, which equates to 95 units out of 253 in the building. The development is consistently selling well, despite being in a market that the media claims is difficult. I believe that the reason for this is its superior location, and my clients have commented about the wonderful finishes. When you compare the development to other buildings, the cost per square foot is quite reasonable, especially when you see the upscale finishes in the model that are standard.
Indicative of the fact that the project is doing well, is the breaking ground for this development which is scheduled for the first quarter of 2008. Permit applications are currently with the city. The completed building is now scheduled for 2010.
A studio model, priced from $370,000, will be fully furnished and available to see in early February. The studio is perfect for executives that work in another part of the country who happen to come to Chicago for occasional business. The apartment is “turn-key” so well designed furniture and window coverings are provided. And what a location, on Illinois, east of Michigan Avenue in a cul-de-sac. Virtually right across the street from Nordstrom’s.
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