I live in the area and I have been to almost all of the sales centers in the South Loop. Most developments will negotiate a discount, except for Museum Park. Anyway, the condo you mention on 1935 South Wabash is located in a good area, next to the beautiful Second Presbyterian Churchâ€Ž and the Detour 2 Discovery Day School. You can walk over to Room 21 for a fabulous dinner. The neighborhood is full of friendly homeowners who love to walk their dogs to the many dog parks in the area. Anyway, Erica doesn't know what she is talking about and seems to be still agonizing years after her purchase... I don't think she knows what is impressive if it was looking right at her. Maybe she should venture east and go back to Ohio. Anyway, the best advice is to ask local neighbors and find out their thoughts. Good luck in your search Laura.
It's possible to negotiate on anything, especially in this market.
It looks to me like the Terrazio is pretty well priced, with 2 bed, 2 bath units being sold for below the average one bedroom price in the South Loop. Keep in mind this location isn't as ideal as let's say, 1133 S. State, but for the price it may be worth it to you. Is there a specific price range you are looking in? Or, is it the location or a "good deal" you are after?
Let me know if you have any other questions.
Sierra - firstname.lastname@example.org
Wow, there certainly are a wide range of responses to your question! I thought I'd chime in since I bought a condo in the South Loop a few years ago and spent a long time AGONIZING over the decision. Since I'm very familiar with the area I thought I'd share what I know. First of all, a close friend of mine moved to Chicago in the last few months and I did a lot of research for her to help her buy her condo. I remember looking at the Terrazio and not being impressed at all. Though the Terrazio is not in a good location (more on that later) I was tempted by its lower prices, so I browsed. The Terrazio does seem to have good amenities, but I had to look elsewhere because most of the units are SO SMALL. The master bedrooms really are a lot smaller than other condos in the area. I was frustrated because the Terrazio did not list floor plan areas (perhaps because the units are small?)
Ok, now for the area that the Terrazio is being built in: I would not consider this a nice area at the moment. There's public housing nearby and the location really is on the edge of what's been gentrified in the South Loop (given the massive amount of recent condo development I would not expect gentrification to expand any time soon). Also, there isn't a train station within convenient walking distance and I would not feel comfortable walking around there at night. Also, I have not heard anything about a local train station being planned for the area. Even if one was being planned, it would probably be a LONG, LONG time before one was built considering today's financial situation (just look up transitchicago to check for yourself). What I find attractive about living in a condo in Chicago is the ability to walk outside, stroll down the street and enjoy all the city has to offer (including nighttime). This is not something I would feel too safe or comfortable doing at the Terrazio location at night...just my honest thoughts.
If you like this area I would consider searching east of Michigan Ave or venture a little farther north. I hope this helps some and good luck with your search!
Here is the Terrazio website with all the floorplans, http://terrazio.com/floorplans.html... The master bedroom in unit 724 is 14x11 and unit 706 is 15x12. Anyway, the sales center looks fantastic and we cant wait for the building to be built.
Room 21 is closed and Museum Park negotiates.
The only decent response on this was by Sierra Bloom who at least asked some important questions about what YOU are looking for ad seemed to know some numbers.
My opinion...if you are going to buy at that development- negotiate them WAAAAAAAAY down and then purchase a bullet proof vest before moving in.
Obviously it is possible to negotiate a discount, most developments like the Terrazio are offering great deals. I just bought a large one bedroom with parking for around $300k. Anyway, I believe you need to ask yourself, "where will you be during 2016?" I have a great article that talks about some of Chicago's biggest real estate developers lining up to build a massive complex to house Olympic athletes if Chicago hosts the 2016 Summer Games. The athletes' village is planned for the site of Michael Reese Hospital near 31st Street and Cottage Grove Avenue. The South Loop is where you want to live. We have been to the sales center of the Terrazio and they are offering some great deals. Anyway, I can't wait to see what happens after the IOC picks a host city. The decision is expected in October. Here is the article link: