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16 Mar 2020

West Loop Building Ran Out of $1.6 Million Condos, So It Made Some More

West Loop Building Ran Out of $1.6 Million Condos, So It Made Some More
A rendering of the building planned for a site at 1147 W. Jackson. Belgravia Group

For the second time this year, the demand for higher-priced condos in the West Loop nudged a developer to reconfigure a planned building.

“You listen to the market, and the West Loop market had demand for more” of the higher-priced condos, said Jon McCulloch, co-CEO of Belgravia Group, which is planning a condo building called CA6 at 1147 W. Jackson in a joint effort with JRG Capital Partners.

In February, Belgravia launched sales for CA6, a seven-story red brick structure with 72 units. As designed, the building, which is not yet under construction, was to have primarily condos under 2,400 square feet, with five that would be 3,150-square-footers.

The larger units were priced from $1.63 million, while the smaller ones started at just under $826,000.

In the first weekend of sales, all five of the upper-priced condos went under contract, McCulloch said, and at least a dozen other potential buyers wanted one.

Read more at Crain's Chicago Business


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