Chicago Real Estate pcherry on 25 Jun 2010 03:16 pm

Silver Tower Selling Fast

June 25, 2010 - Silver Tower still seems to be a big hit with buyers since prices on these Chicago condos have been reduced. The two events that tend to bring out buyers are foreclosure sales and auctions, and Silver Tower was hit by one of those. The 40 story River North high-rise, located on 303 West Ohio Street, has 225 condos. According to data from Appraisal Research Counselors, before the tower’s financial issues there were about 80 sales. Now another 50 have gone under contract.

Below is a list of some of the remaining unsold units.

1BR/1Bath with 728 square feet from $255,000 to $260,000. Assessments are $280-$321.

1BR/1Bath with 783 square feet from $240,000 to $255,000. Assessments are $276-$321.

1BR/1Bath with 785 square feet from $230,000. Assessments are $285-$382.

1BR/1Bath with 813 square feet from $245,000 to $265,000. Assessments are $275-$324.

1BR/1Bath with 829 square feet from $254,000 to $284,000. Assessments are $288-$331.

1BR/1Bath/Den with 947 square feet from $270,000 to $333,000. Assessments are $336-$389.

1BR/2Bath/Den with 930 square feet from $279,000 to $304,000. Assessments are $285-$382.

2BR/2Bath with 1,080 square feet from $352,000 to $373,000. Assessments are $366-$418.

2BR/2Bath with 1,138 square feet from $389,000 to $413,000. Assessments are $402-$458.

2BR/2Bath/Den with 1,190 square feet from $402,000 to $465,000. Assessments are $409-$453.

3BR/2.1Baths with 1,793 to 1,810 square feet from $622,000 to $685,000. Assessments are $685-$716.

Parking is $30,000 with an assessment of $32.57.

We can probably expect to see more price drops at Chicago real estate developments as the summer progresses.

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