LAST ELYSIAN RESIDENCES SOLD
Want to get a jump-start on upcoming deals? Meet the major Chicago players at one of our upcoming events!
|Residences at the Elysian, one of the newest hotel and residential buildings in River North, first went on sale in 2003. But the last 11 residences have closed over this year. @properties took over marketing the final full and half-floor units in January and focused its efforts on North Shore buyers looking for a second luxury residence downtown. The efforts paid off, with the units selling at more than $3M apiece (several to all-cash buyers.)|
|@properties co-founder Thad Wong (here with co-founder Mike Golden) tells us that the unit sales show that there are buyers still looking for the right kind of luxury and ultra-luxury product. What makes the Elysian the right kind? It's more exclusive and less dense than some other buildings. The challenge was getting buyers to understand the product, which had once been marketed as condo-hotel, he says.|