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Old July 31st, 2009, 06:34 PM   #341
JoeZekas
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235 status updates

The following is per Scott Hoskins, CMK's marketing director:

- The 27th floor was turned over for occupancy this week

- 12 furnished model residences now open

- 9 new contracts in July

- Sales office is now located in the building

- Open 7 days a week – Monday thru Friday from 11 am to 6 pm, Saturday & Sunday from noon to 5 pm
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Old July 31st, 2009, 07:10 PM   #342
therock473
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layout, and size is of course something to consider and some may say 235 wvb lacks this as its STRONG POINT...but one thing you need to note is that price point is directly correlated to size and LOCATION. .this is a very attractive price point for most urban professionals looking to stay in the downtown area. And to be perfectly honest, aside from Michigan ave and parts of state street, this corner of the loop is the liveliest in the financial district. Because of its close proximity to the sears tower many local establishments are still open even when the rest of the loop shuts down. Places like cactus bar and grill and Franklin tap to name a couple will serve nicely as a neighborhood hangouts well after the financial district shuts down.

bottom line (half man) you STILL cant buy a two bed two bath with comparable or even greater sq feet in the loop at a starting price of 300K. I would challenge you to show me this. South loop? possibly..west loop? maybe. But loop no, and river north, gold coast DEFINITELY NOT.

this building is marketed to professionals that want to be in the financial district and don't necessarily want to pay $400K Starting for a 2bd/2ba in a condo highrise. You just wont find it anywhere in our "loop" neighborhood.

if you bring up VETRO please note this is NOT THE LOOP..this is SOUTH LOOP
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Old August 1st, 2009, 02:20 AM   #343
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Quote:
Originally Posted by therock473 View Post
You just wont find it anywhere in our "loop" neighborhood.
There is no doubt there is great value in the 2 BR in the building if all you want is a place to eat, sleep, use a laptop, and watch TV. But it is not underpriced in my opinion. My wife and I considered a 2 BR as we start to grow out of our condo in Printers Row. The 2 BR / 1 BA at what I remember being a little under $300K seemed like a good deal, but there was virtually NO storage space. Even with balcony, it was less than 800 SF (our studio is almost that big and cost half as much). It was something in the neighborhood of $370/SF, which did not seem like a great deal. The 2nd BR left more to be desired for. The kitchen was a wall (with optional island). There was no space to put a kitchen table and the living room was just big enough for standard TV, couch, and coffee table. We couldnt even find a place to set up a desk and computer (maybe next to the TV?).

This building is ideal for young professionals who have the few items they have left from college or "in-towns" and that is about it. Not much for the kitchen (very little counter space, minimal cabinets), small closets, and very little storage outside of the kitchen and bedroom. The building does not come with the bells and whistles you get with a lot of the new buildings. I suppose it is exactly what some people are looking for (low assessments, cheap mortgage, simple design without the bells and whistles). But it doesn't feel like a "home" and it would seem residents would "grow out" of them very fast (making me believe it will be mostly renters).
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Old August 1st, 2009, 06:35 AM   #344
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Not to mention 22 units per floor! There is a market for cheap housing and CMK is providing it. Not everyone can afford high end housing. The problem to me with this is that it was marketed to investors. Very low end to keep the price down. 5% down preconstruction pricing. Selling to flippers/landlords is OK, but ultimately this won't be a nice place to live unless units end up in the hands of owners. Not sure this will happen any time soon.

That being said, I'm impressed with the pictures of the models. I love the design of the building. The location is OK for the target market. I hope it works out.
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Old August 14th, 2009, 06:23 PM   #345
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Any new pictures? All the facade should be done. Any pictures from inside?
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Old August 15th, 2009, 06:59 PM   #346
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Hello all,
I am considering buying 2 bed/1 bath at 235. I intend to live in the unit and am a first time home buyer. I do not have an agent or lawyer, I know some but haven't reached out to them yet. My question is how does pricing work when buying at 235? Is it a fixed price schedule per unit/amenity? Is there any price negiation? Should I even approach them without an agent?

Thanks for any feedback.
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Old August 18th, 2009, 03:47 AM   #347
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v5000 -

1. If you are considering using an agent, you should involve them before heading over to the sales center.

Developers offer buyer's agents commission only if they are the procuring cause (the person who brought about your purchase). By visiting the sales center without them, the developer can refuse to pay them a commission which will make it a challenge for you to find an agent who will work for free.

2. Starting Without an Agent

You may be able to visit the sales office without your agent as long as you make it clear that you have agent representation when speaking with the sales team. Remember that they are there as employees of the developer so keep your disclosures to a minimum.
*If you are planning to work with an agent, I would avoid this situation. The reason you work with an agent is to protect your best interests - its hard to do if they aren't there.

3. The Pricing

Pricing varies by floorplan and increases with upgrades and floor level. Most of the units already have the upgrades completed because of construction time frame. There is almost always some room for negotiation. If you want to gauge possibilities you can look at Chicago Tribune Public Record to look at recent unit sales in the building, consider the remaining number of units with the same floorplan, and the amount of upgrades.

Disclosure: I am a licensed Real Estate Broker and have worked with CMK in the past but have no direct affiliation.
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Old August 18th, 2009, 08:21 PM   #348
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Does anyone else look at the balconies and see T V D M T R D I . . .?
About August 12th:

[IMG]http://i32.************/24nmiyg.jpg[/IMG]
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Old August 18th, 2009, 11:11 PM   #349
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hate the podium, but otherwise i like how it's turned out.
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Old August 19th, 2009, 07:05 AM   #350
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I used to despise this building. But the darker facade really makes it work.
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Old August 20th, 2009, 07:27 AM   #351
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As a hater of parking podiums, I think this podium is the sexiest thing ever.

Somehow, this building just makes it happen
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Old August 20th, 2009, 08:50 AM   #352
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Quote:
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I used to despise this building. But the darker facade really makes it work.
Agreed. The deep gray looks phenom.
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Old September 2nd, 2009, 06:41 AM   #353
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235 stands out in this photo


Karl Agre, M.D./ flickr
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Old September 3rd, 2009, 03:26 PM   #354
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^Stands out like a pawn protecting a King.... in a good way.
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Old September 4th, 2009, 03:02 AM   #355
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Old September 4th, 2009, 04:45 AM   #356
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Quote:
Originally Posted by jpIllInoIs View Post
^Stands out like a pawn protecting a King.... in a good way.
comment of the day
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Old September 4th, 2009, 06:48 AM   #357
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9/2

image hosted on flickr
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Old September 4th, 2009, 08:22 PM   #358
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awesome balcony shot!
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Old September 5th, 2009, 05:43 AM   #359
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^ Thanks, simulcra. Two more from 9/2:

image hosted on flickr


image hosted on flickr
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Old September 28th, 2009, 07:15 AM   #360
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coming after promissary note

Hi...i put $ down on a unit, but lost money on stocks and couldnt afford to close on the unit...I lost the 5% I put down, but wonder if they will come after the promissary note (15%)...does anyone have experience on how that works? hopefully CMK will have mercy and let us off the hook...
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