Quote:
Originally Posted by SamInTheLoop
^
1) That was an asking price. It's not unreasonable to think that the actual purchase price is much lower, particularly considering the poor sales performance at
that project, all things considered.
2) That is one unit. One unit at a location right on N Michigan Ave. Far different from, what - a dozen or more of these units located in LSE......
|
The Ritz is also a garbage building that doesn't even come close to cracking the plateau of the skyline, is ugly as sin, and doesn't include a hotel component (none of the fancy amenities like Trump or Aqua). Also, that unit just went on the market like a few days ago, it sold nearly instantaneously. The economy is continuing to rev up and the rich are getting ready to start spending lavishly after several years of flashing your cash being out of style.
Honestly though, the Ritz isn't even in the same class as the real ultra luxury towers like Water Tower Place, Olypmia Center, One Mag Mile, Legacy, Trump, etc. It doesn't even have lake views except for a few glimpses here and there. Hard to compare living at 350' to living at 700'+.