It’s pretty amazing to look at the first shell of a building just going up and find out that only a handful of its 221 units are still unsold. Such a building is Tower I in Museum Park–a development south of the Loop and close to the lake that will eventually, maybe by 2004, have more than 850 residences.
Then it’s even more astounding to look at a price sheet for Tower II of this project by the Enterprise Companies and see it loaded with the letter S, the Sold symbol, of course.
This Tower isn’t even a hole in the ground at this point. Still more: Only four of the town homes of the first phase–hovering just below a million bucks–are still available.
In the loft building, where construction will start next year, all of the three-bedroom, three-bathroom units sold out in two days; and, finally, about 10 days after I visited the models, I found that the last six or so one-bedroom, one-bathroom lofts had also been sold.
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Need we say it? Location, location, location.
Visible from Lake Shore Drive, this whole neighborhood looking west along Roosevelt Road to the south and west seems to change from week to week, if not from day to day.
Developers are understandably promoting its attractions–and why not? It has proximity to the heart of the city yet just enough distance to be away from its hustle, and that distance offers a sensational skyline perspective.
Then there are also the big fish that lure buyers south: the Museum Campus and activities alongside Lake Michigan.
Museum Park has this location appeal along with its variety in types of residences–everything, it seems, but sprawling single-family homes that sit on a couple of acres of leafy land.
It also had the attraction of a fairly broad range of prices — but that was before all those one-bedroom units for less than $200,000 were sold.
There are three furnished models within the large sales center at the development’s site: Two tower condo units and one loft.
I’m choosing to concentrate on the lofts because, at this writing at least, the availability is greater (even though they’re all two-bedroom units), the price range is somewhat more affordable and the nature of a trendy loft building will probably appeal more to young couples and successful singles.
This should offer balance and diversity in demographics, perhaps, relative to the more affluent and settled group who’ll be buying million-dollar town homes and extravagant pied-a-terres.
And, speaking of trendy: Be prepared for some little frivolities in the loft model–a feathered picture frame as well as a chandelier hanging from a rope of white feathers; lamps that look as though the shades are upside down, and high-backed occasional chairs (in diamond-patterned mint and rose, yet!) straight from a Disney fantasy.
This is obviously the flip or whimsical side of Riha Design Group, whose style is sophisticated/contemporary/eclectic; whimsical is more appropriate for lofts than for upper-bracket pads.
But look beyond the decor to the size, the flow and the elements that transform these units into lofts, even though the building will be of new construction.
Structural concrete columns, for example, might turn up within a wall or within a closet. Metal ducts hang from the ceilings–they’re part of the territory. But so are 10-foot ceilings, balconies and ventless gas fireplaces.
The model is a Plan 2 floor plan, a two-bedroom-plus-den, two bathroom unit with 1,280 square feet; all the number 2 plans are already sold, but plans 3 and 5 (1,300 and 1,272 square feet respectively) have similar configurations.
These north-facing units are base-priced from $328,500 to $358,500 (think location, location).
While we’re covering the size/price range, the largest remaining units (Plan 1 with 1,316 square feet) are corner lofts with north-northwest exposures, meaning lots of windows (both bedrooms and the 21- by 15-foot living/dining/kitchen area); they’re base-priced from $332,500 to $360,500.
What’s wrong with this picture? Not too much, from my viewpoint.
The development is a large one but not dense for its size. Though some buildings are called towers, the tallest is 20 stories; there’s some green space, and the area, it seems, can only get better.
True, the prices are up there; a half million for some of the two-bedroom condos is not cheap, but city types have been accustomed to seeing numbers like those, just as they’ve become accustomed to encountering those speedy sell-outs before groundbreaking. Think location, location.
Museum Park
Address: 1259 S. Indiana Ave., Chicago
Phone: 312-362-0200
Description: A development to be completed in 2004 that with 856 residences in three condo towers, 116 town homes and a loft building with149 units. Tower I with 221 one- and 2-bedroom units is under construction and nearly sold out. Tower II with 170 units, will begin construction this month. There are three furnished models.
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Amenities: Hardwood flooring in living areas, carpeted bedrooms. Appliances, disposal, washer/dryer hookups. Storage lockers and fitness centers. Lofts will have 10-foot ceilings, oversized windows, gas fireplaces with marble surrounds. Exposed concrete ceilings and columns. Condos will have 24-hour doorman.
Prices: Base-priced from $314,500 to $400,500 for lofts with two bedrooms, two baths. Parking space, $30,000. Base-priced $309,500 to $381,500 for condo units in Tower I. Tower II units $454,500 to $823,500. Town homes, $950,000 to $990,000. Prices as of July 30.
Neighborhood: At the north end of residential area known as Central Station. Near the Museum Campus and Lake Shore Drive.
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Contact Genevieve Buck at [email protected] or at baiduhai, 4th Floor, 435 N. Michigan Ave., Chicago, Ill. 60611.