CHICAGO | 1000M (1000 S Michigan) | 805 FT | 73 FLOORS - Page 45

colemonkee · #**881** Posted **Mar 13, 2018, 5:10 AM**

The crown is a bit of a comb-over, but other than that, I don't hate the tower. Jahn usually does amazing work, so I'm holding out hope for this one. That being said, it appears the developer is already value engineering some of the sexiness out of this, opting for angled flat planes of glass around the curves as opposed to curved glass.

Kenmore · #**882** Posted **Mar 13, 2018, 1:58 PM**

this one sure went from sick to turd, huh

Kumdogmillionaire · #**883** Posted **Mar 13, 2018, 5:00 PM**

The two balconies near the top just make no sense to me at all. I don't understand why they would break up uniformity and cohesiveness in the design to put a couple dinky decks up there. Boooo. Thank god this is going to be added to the "never-built" collection. No one wants to spend this much money to live in that location. I'll gladly let this lot sit empty for another 5 years for something better

gebs · #**884** Posted **Mar 13, 2018, 5:04 PM**

Quote:

Originally Posted by Kumdogmillionaire

No one wants to spend this much money to live in that location.

I guess it'd depend on how much money, exactly. It's a pretty spectacular location. Virtually guaranteed lake views, Grant Park at your feet, close proximity to every single L train, tons of buses up Michigan Avenue ... hell, if I were rich I'd want to live in it.

Free Lolla shows too.

KWillChicago · #**885** Posted **Mar 13, 2018, 6:28 PM**

Whats usually the occupancy percentage they need in pre-sales in order for a tower like this to start, if sales are moving slowly? It's usually like 50 percent right? But if sales are slow I would imagine it would have to be higher.

Notyrview · #**886** Posted **Mar 13, 2018, 6:34 PM**

So if Vista is only at 42% i doubt this is above 20. Condo buyers at this price are typically empty nesters who either want faux historical bullshit or something innovative. We don't have either of that here.

the urban politician · #**887** Posted **Mar 13, 2018, 7:08 PM**

This is a fine location, I think the only issue is that it's far from the center of dining, nightlife, i.e.

Luckily things are changing rapidly for the south Loop, although Dearborn Park remains a wall of boredom to the west.

Mr Downtown · #**888** Posted **Mar 13, 2018, 7:12 PM**

Quote:

Originally Posted by Notyrview

So if Vista is only at 42% i doubt this is above 20.

Realtors are now being offered cash bonuses in addition to their regular commissions if they can bring buyers to this building: $2000 for 1BRs, $5000 for 2BRs, $7000 for the larger units. That doesn't sound to me like they're past the 30 percent mark.

BVictor1 · #**889** Posted **Mar 13, 2018, 7:36 PM**

Quote:

Originally Posted by Mr Downtown

Realtors are now being offered cash bonuses in addition to their regular commissions if they can bring buyers to this building: $2000 for 1BRs, $5000 for 2BRs, $7000 for the larger units. That doesn't sound to me like they're past the 30 percent mark.

It sounds like it's time to become a realtor...

Kumdogmillionaire · #**890** Posted **Mar 13, 2018, 7:36 PM**

Quote:

Originally Posted by Mr Downtown

Realtors are now being offered cash bonuses in addition to their regular commissions if they can bring buyers to this building: $2000 for 1BRs, $5000 for 2BRs, $7000 for the larger units. That doesn't sound to me like they're past the 30 percent mark.

Wonderful

The developers should be punished for screwing Jahn over

donnie · #**891** Posted **Apr 9, 2018, 10:11 PM**

Great news.........

https://chicago.curbed.com/2018/4/9/...ruction-update

r18tdi · #**892** Posted **Apr 9, 2018, 10:14 PM**

Quote:

Originally Posted by donnie

Great news.........

https://chicago.curbed.com/2018/4/9/...ruction-update

So that's like what, 11% sold? This might take a while.

marothisu · #**893** Posted **Apr 9, 2018, 10:27 PM**

Quote:

Originally Posted by r18tdi

So that's like what, 11% sold? This might take a while.

Well, when did it start sales? There's usually fewer real estate sales in months like November, December, January, etc than the summer/early fall.

Kngkyle · #**894** Posted **Apr 9, 2018, 11:07 PM**

38 is not many units sold, but as marothisu said this is during the slow period... however... the start date has already slipped into 2019 from what was originally supposed to be 2018. The next 6 months will make or break this project.

BVictor1 · #**895** Posted **Apr 9, 2018, 11:35 PM**

Sales started in October of 2017.

I'm just going to be patient. This isn't this developers first trip to the rodeo.

marothisu · #**896** Posted **Apr 9, 2018, 11:39 PM**

So they averaged a little over 6 sales per month so far - so if that continues then magically doubles for the summer then we're up to almost 100 units sold by end of summer aka almost 30%. Will be interesting though to see what actually happens..

Kumdogmillionaire · #**897** Posted **Apr 10, 2018, 12:31 AM**

I've been calling this project the walking dead for a while and this only confirms it for me.

Also, am I the only one who got a weird feeling reading that curbed article? So clearly a shill job by the author... Wonder how much he got paid by the developer to write a misleading puff piece. He tried to make it sound like they had done a better job selling units than Vista... might have to blacklist curbed at this point(personally speaking) if I see more blatant shilling.

the urban politician · #**898** Posted **Apr 10, 2018, 1:19 AM**

^ How is 6 units per month slow sales velocity?

If one were building a suburban subdivision of, say, 100 luxury homes, a prebuilt sales velocity of 6 homes per month would mean you’d meet your goal of complete sellout in around 16months. That’s not bad.

pip · #**899** Posted **Apr 10, 2018, 2:16 AM**

from the article:

The yet-to-be-built tower landed a combined 38 contracts in the final quarter of 2017 and the first quarter of 2018, according to a sales team lead by @properties. While it may not seem like a huge number given the building’s total unit count of 323, the activity did account for approximately 34% of the downtown’s new condo sales over that period.

Realy??? For downtown only 112 condo sales for half a year?

Bonsai Tree · #**900** Posted **Apr 10, 2018, 2:28 AM**

Quote:

Originally Posted by pip

from the article:

The yet-to-be-built tower landed a combined 38 contracts in the final quarter of 2017 and the first quarter of 2018, according to a sales team lead by @properties. While it may not seem like a huge number given the building’s total unit count of 323, the activity did account for approximately 34% of the downtown’s new condo sales over that period.

Realy??? For downtown only 112 condo sales for half a year?

That number seems about right. It says new condo sales which could be the reason for the low number. Also, it depends on what their definition of downtown is. I bet it's only the loop, south loop, and river north. They probably excluded the West Loop which has seen a ton of new condo sales. The city hasn't seen much condo growth since the recession, so this doesn't seem very far off.