According to a press release Belgravia Group has selected @Properties to help them sell the remaining 5 units in the Union Row development.
The four-story Chicago townhomes offer 3 to 4 bedrooms, 3 to 4.5 baths, 2,460 to 2,901 square feet, and attached, heated two-car garages. Prices recently were reduced by as much as $200,000 and are now at $374,900 for a 3-bedroom, 2.5-bath home; $429,900 for a 3-bedroom, 3-bath home; and $499,900 for a 4-bedroom, 4-bath home.
I first wrote about this underpass and railroad track development almost 2 years ago when I was first befuddled by it. Here's my favorite picture from that original post:
It's very close to where I live and I drive by it almost daily, shaking my head in amazement each time that anyone would buy one of these units. Now I learn that they have managed to sell 30 units here! I
hate to think of the resale value.
I can't believe that Belgravia even created this development in the first place. However, the press release says that the development was created by 16th and Union LLC and is managed by Belgravia so perhaps this is something that Belgravia took over or some investors came to Belgravia with this brilliant idea.
@Properties took on this project so they must believe they can sell them. I guess at the right price anything will sell. The marketing spin has already started, with the press release mentioning the convenient location but conveniently leaving out how conveniently located it is to the overpass and the railroad tracks.