From Kate Hawley at YoChicago:Plans appear to be in the works for a new condo building on the 4400 block of North Clark Street, just north of Montrose Avenue. Rubloff is marketing a four-story new-construction building planned for 4421 N Clark St, currently occupied by a two-story brick structure. The 18 condos will have two or three bedrooms, bamboo floors, vessel bowl sinks, stone floors in the bathrooms and 10-foot ceiling heights. We don't have a complete rundown on pricing yet, but this online listing has a three-bedroom in the $430s.
The new project will be directly across the street from 4420 N Clark St, also marketed by Rubloff, which is offering immediate occupancy. Together, the buildings might give a new patina to a stretch that looks a little bleak to the naked eye, thanks in part to a storage facility and the somewhat forbidding exterior of the Japanese American Service Committee of Chicago.
The new project will be directly across the street from 4420 N Clark St, also marketed by Rubloff, which is offering immediate occupancy. Together, the buildings might give a new patina to a stretch that looks a little bleak to the naked eye, thanks in part to a storage facility and the somewhat forbidding exterior of the Japanese American Service Committee of Chicago.
"The new project will be directly across the street from 4420 N Clark St, also marketed by Rubloff, which is offering immediate occupancy."
ReplyDeleteFunny YoChicago reports that this luxury condo project is to be MARKETED by the same firm as the luxury condo project across the street that has not sold out yet, but fails to mention it is also the same DEVELOPER.
Berger Development, Ltd.
1361 W Fullerton
David Berger, President
Berger Development Ltd
$1,500.00 11/6/2006
to Citizens for Gene Schulter
What's the significance of this? I'm probably being dense here, but what's the conspiracy theory?
ReplyDeleteGreat another condo building that won't be able to sell all the units and in 4 months will have "For Sale" signs up for the few that sold. A few months ago I read a comment stated Chicago should change it's name to ChiCONDO-----I am beginning to believe it. :(
ReplyDeleteHey Anonymous - what would you rather have put up? A methadone clinic? Homeless shelter? Liqour store?
ReplyDeleteI swear, some people are never happy. These look like some pretty sweet condos that will be occupied by people that DON'T break into my car or urinate in the alleys. I'll take it!
Colin--
ReplyDeleteNo I would not like to see a meth clinic, homeless shelter, etc. I am just asking for them to reconsider and turn it into apartments as compared to condos. The Condo building next to mine NEVER sold all the units. After a year, several of the owners began selling for below market (because of the bad market mostly but also because of the neighborhood). This will cause problems when people go to sell their condos if comparibales sell for less. Why not rent apartments and still make money.
That's the beauty of the free market, they'll stop building condos when it stops making sense. No one is going to sink millions into a project that has no chance of making money. We've seen a slow down in condo building lately which is proving my point.
ReplyDeleteI'd much rather have a vacant condo next to me than a lot of other things.
We should be happy that people are building and investing in Uptown.