One Evanston Condos Get Price Cuts, Upgrades

THE NAME GAME: New developer gives rechristened building price cuts and upgrades

An Evanston condo building

EVANSTON $234,900 to $989,900

Ted Nash, a Jameson Sotheby’s agent, says that the original developer of this downtown Evanston condo building spent $400 per square foot on construction and set asking prices at $500 per square foot. The development company Related Midwest took on the building to keep it out of foreclosure, putting it back on the market in February with units priced at about $340 per square foot. “That tells you the value we’re offering,” says Nash, who, with Linda Levin and Patrick McDonough, is representing 70 units in the 96-unit building.

Along with getting new lower prices for its condos, the building, at 1570 Elmwood Avenue, got a new name—One Evanston—and upgrades to the main entrance, the lobby, and the workout room. The remaining condos range from a 752-square-foot one-bedroom unit on the sixth floor that is priced at $234,900 (down from $339,000) to a 2,874-square-foot unit with three bedrooms and three and a half bathrooms, priced at $989,900 (down from $1.489 million). Parking spaces are included.

 

Photograph: Todd Urban

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