Quote:
Originally Posted by Zapatan
wouldn't park adjacent be really desirable, kind of like Central Park in NYC? How did they do so poorly in sales?
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Several dampening factors:
- it's on South Michigan, not right next to the Mag MIle or Art Institute
- Chicago doesn't have the local money chasing top-end condos
- the overseas money—both clean and dirty—seeking safe havens in US real estate doesn't see Chicago as the same kind of investment as Miami or Manhattan
- At least two high-end condo projects (Bennett Park and Vista) are better located (in investor owners' minds) and further along