chicago-condos & Chicago Real Estate pcherry on 21 Dec 2010 10:57 am

Price Cuts At Evanston Developments

December 21, 2010 - Yesterday we told you about how sales are nearly non-existant at Grand Bend At Green Bay in Evanston. The Bluewater Group purchased 38 suburban Chicago condos in the six story low-rise this March and even though they cut prices by almost 40% they have made only six sales. They need to sell the other 32 units before a $6.75 million loan comes due in March of 2012.

Another couple of suburban Chicago real estate projects in Evanston are creating some competition for Grand Bend. Sienna and One Evanston, which had been called Winthrop Club Condos, are also promoting price cuts right now according to a Crain’s report.

Sienna, which is a 111 unit tower on 1720-40 Oal Avenue in Evanston, is advertising reduced prices of $160,000 for their unsold one bedroom condos. The three bedroom condos in this tower are priced from $385,000. There are just seven units left for sale from the developer.

At One Evanston, which is located on 1570 Elmwood Avenue in Evanston, the prices have been cut around 20%. The one to three bedroom condos are starting at $234,400 and go on up to $999,900. Free parking is included in the purchase price and guest parking is also offered at no cost.

So if you’re shopping for suburban Chicago condos you should probably visit the sales centers for all three of these developments.

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