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Let the Games Begin at Coliseum Park

Developer hopes to spur sales with price reductions

Coliseum Park condos, located in South Loop

SOUTH LOOP $299,000 to $399,000

Coliseum Park is a 39-unit building at 1440 South Wabash Avenue, directly across the street from the former site of the Chicago Coliseum, a convention, sports, and music facility built in part from remnants of the Civil War–era Libby Prison in Richmond, Virginia. Completed in 2009, the condo project had sold about half its units before Deva Development put a large block of them on the rental market.

Now some of those rentals are being sold, along with other condos that were never occupied. Prices on the ten available units run from $299,000 for a 1,084-square-foot layout with two bedrooms and two baths to $399,000 for a 1,435-square-foot corner unit with three bedrooms and two baths. Garage parking spaces are priced at $30,000. (Less expensive one-bedroom condos may also become available as other renters move out.)

All prices have been reduced by at least $50,000 from where they started in 2009, and the top price is down by $70,000, says Colleen Harper, the @Properties agent representing the building. Buyers have the option of either moving in to finished condos immediately or waiting 60 days while their chosen cabinetry and other finishes are installed.

Send tips about home sales to dennis@rodkin.com.

 

Photograph: Todd Urban

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