35 Comments Interesting situation here. By coincidence I'm supposedly closing on a unit here today. It's been 3 months since we first got a contract. It has never taken me this long to get to closing before. First there was an appraisal issue that I can't get into details on. More importantly this building is blacklisted by most lenders. Why? Oh, because a piece of the building fell off and hit a woman a while back and landed her in critical condition in the hospital. The city made them put up scaffolding until they could get their problems fixed. There will likely be special assessments in the future. In addition the City of Chicago has a 2 count building code enforcement action against the building, one of which seeks fines of up to $3000 per day. Now even by the city's admission they are unlikely to ever really purse fines of that magnitude but most lenders won't touch this building. There are exceptions though. Then you have to look at the history of sales in this building. Unit 1804, obviously a much lower floor, sold for $387K with no parking. In general the price/SF in this building has been between $255 and $310 before parking depending upon quality and view. So even 2204 is a bit on the high side. On a separate note...I will never understand what logic sellers use to pick a real estate agent. Why would the sellers of unit 2504 use the same agent who represents