In a year-end effort to market 36 condominiums at 200 North Dearborn Private Residences, a 47-story apartment tower being converted to condominium ownership in Chicago’s Loop, American Invsco’s Chairman and CEO Nicholas S. Gouletas says he is entertaining all buyer offers between now and December 14th in what he informally calls “Nick’s Private Auction.”
“In order to meet our Fannie Mae pre-sale requirements, we must sell 36 units by the end of the year,” Gouletas says. “We will consider all bids that meet or come close to our minimum price threshold.”
So, in an effort to market the 36 condos, American Invsco is inviting serious buyers to name their price and bring their check book. “Make us an offer we cannot refuse, Gouletas says. “We must accept 36 sales, so give us your best—or worst—offer.”
While Gouletas is not listing the minimum price threshold he will accept for each unit, he says: “Some offers will be close to what I will accept. If we are not that far apart, we are willing to negotiate. But I promise to give buyers a great price.”
Since the new sales program was launched on Sunday, December 5th, American Invsco has sold seven condominiums—all cash deals. The nine-day promotion is scheduled to end on December 14th.
“If we have accepted 12 deals and need 24 more on December 14th, we will pick the next best offer we receive and start negotiating,” says Gouletas. The promotion likely will run until the end of the year.
Gouletas has developed, marketed and managed more than 45,000 units valued at $12 billion in more than 100 buildings in 40 markets nationwide since 1969.
Original pricing for the 1-bedroom units begin at $355,100, and 2-bedroom layouts start at $472,900. FHA-financing is available.
The condos will include the classic upgrades which include new paint, new carpeting and new appliances in white or black.
There are other upgrades available through the Elite and Majestic packages, including new hardwood flooring and renovated kitchens with stainless-steel appliances, new cabinets, granite counter tops and upgraded bathrooms.
“More than half of the 309 units at 200 North Dearborn are already closed, and sales have surpassed the 50-percent mark,” says Gouletas. “We have a great selection of residences for quick occupancy.”
200 North Dearborn is the ideal in-town location for those who regularly enjoy the finer aspects of downtown Chicago—from the Loop’s dynamic Theater District to fine restaurants and shopping opportunities.
Approximately 25,000 square feet of retail space is provided inside the 200 North Dearborn building, including a 7-Eleven convenience store and a dry-cleaning service.
Other amenities include heated indoor swimming pool, a top-of-the-line fitness center, the 3,200-square-foot landscaped Vincent Van Gogh terrace with barbeques, a party room, laundry facilities, 24-hour doorman, and a same-day maintenance service. Five floors of indoor parking are also available.
The high-rise condominium has bird’s-eye views of the Loop and skyline and its abundance of architecturally unique and significant buildings.
“With its prime location and perfect views, all you have to do is look out the window and you can see premiere Chicago architecture such as the AON Center, Daley Plaza, the Leo Burnett Building and the twin-towers of Marina City,” Gouletas says.
Other high-rise vistas to be seen from 200 N. Dearborn include: The AON Center, 200 E. Randolph, Willis Tower, 233 S. Wacker, and John Hancock Center, 875 N. Michigan. Along with architectural views, 200 N. Dearborn also is just steps or a short stroll from eight major Loop theaters.
The sales center at 200 North Dearborn is located on the 35th floor in Suite 3507, with eight beautifully furnished and decorated model units on display.
For private showings of the models visit the sales center at 200 North Dearborn in Suite 3507, open seven days a week from 10 a.m. to 10 p.m. Only written offers will be considered. Brokers are welcome and must accompany all clients. For more information, please call 312-558-1200 or visit www.200NDearborn.com.