Monday, September 12, 2011

SoNo East rises in Near North... and for rent

Bob took some photos early this month of the completed SoNo condo building and SoNo East rental tower rising. You can peek Trump International Hotel and Tower is in the background. Located in Near North it's fair to say demand for new construction rentals here should be good.  They can probably compete in pricing with existing and older rentals on the market.

Condos in the first tower delivered primarily in late 2009 and throughout 2010.  Several sales have trickled down the pipe this year. There are "final developer units left" with, for example, a one bedroom, one bath unit under contract at $209,000, which will be the lowest closing price yet. Sales ranged from $220,900 for one bedrooms to $700,000 for a three bedrooms unit.

The highest priced sold unit I see in the building was for $700,000: a 6th floor three bedrooms, two baths unit.
Currently there are only 4 units listed on the MLS for sale by the developer.  There may be more original units available if you inquire.  The year started off with 11 units available.

SoNo rental tower under construction at Dayton and Blackhawk

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