Friday, February 17, 2017

New 39-Unit Condo Building Proposed for 18th & State;
Is this a Good Sign for Condos in the Sloop?

DNAinfo has the scoop on a new 39-unit condo building proposed for the SW corner of 18th and State:
Episteme Luxury Homes plans a new four-story, 39-unit condo building at 18th and State Street. The proposal for 1802 S. State St. is a less ambitious iteration of a seven-story project Episteme proposed last year.
The article goes onto to discuss the difference between Condo developments and rental.

Curbed picked up on this story and thinks some of the other proposed condo buildings will be a better barometer on the market for the South Loop condos:
As far as post-recession condos are concerned, the 1802 S. State project follows on the heels of the 140-unit building at 1345 S. Wabash and is an encouraging sign for the health of the market. However, the biggest test for the area—a 74-story, 832-foot-tall luxury condominium tower at 1000 S. Michigan Avenue—is yet to come. 
Perched on the edge of Grant Park, the JAHN-designed project known as 1000M will open a sales center for its 340 residences this summer and aims to break ground in 2018. The pace of sales should be a much better indicator for gauging the South Loop’s overall demand for new condos.

Seems pretty healthy on the condo front to us...

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