|I walked by the former Treasure Island store in tony Old Town last week. The building was recently sold and a large multi-unit development is sure to come. All photos Eric Rojas, Broker, Kale Realty|
One year ago we pondered what would become of the closed and vacant Treasure Island building at 1639 N Wells Street in Old Town. A report from the Chicago Tribune tells us the building sold rather quickly for about $14.7M (recorded in November of 2019).
Surely a large multi-unit building will be developed. Only questions will be if it is a rental or condo building and how much retail space will be included (another SoulCycle 😀).
Median price of a sold condo within a couple blocks of the Treasure Island building is an accessible $270,000. However that price will only get you a one bedroom unit with relatively high monthly assessment. Condos with two and three bedrooms sell in the $400s to $800s nearby... with proportionally high monthly assessments!