This coming Wednesday, the 26 unsold condos and townhouses of the 107-unit Eastgate Village development are going to auction. If you're in the market for a bargain, you may wish to attend. And that's just it— the bargain is the point here. There are surely reasons why these units didn't sell on the open market, namely Eastgate's just-out-of-orbit location on the wrong side of the Stevenson. It's not a walkers' paradise, given that you've got to pass beneath the expressway and through McCormick Place to get to livelier environs. Granted, it is convenient to transit, museums, the lake, The Loop, and Chinatown. If you're not too fussy about neighborhood, the units themselves are of comfortable, competent construction. They're not going to blow any minds, but not everything can.
The units back onto a private courtyard. The landscaping is young, so give it time. Ten of the 26 units for sale are condos, with an $80K minimum bid for six two-bed options. The other four are three-beds and range from $130K to $145K. The townhouses, all two- and three-beds, start at $200K and run to $270K. Price per square foot is constant across types and sizes, at roughly $100/sf. The original developer's prices were upwards of twice the minimum bids. Mark Troen, C.O.O. of auctioneer Sheldon Good & Co, reminds Curbed model units are still open for viewing. Be a good, informed bidder. The auction begins at 7pm Dec. 14th, at the Hyatt Regency McCormick Place, with registration at 6pm.
·26 Eastgate Condos to Hit Auction Block in December [Curbed]
·Official Site: Eastgate Auction