No neighborhood has rode the real estate wave quite like The South Loop. With a ton of new and faltering buildings, the area has a huge inventory of unsold condos. In these tough times, sellers have been forced into some pretty aggressive pricing strategies. Take this 3-bed condo at One Museum Park in Central Station. While only on the market for 193 days, the seller has resorted to eleven--count 'em--eleven price drops since January, when the price was up around $1.4M. They're coming at the frenetic pace of about one every two weeks, in increments of $25K to $50K. The price has leveled at $1.025M, for the moment. Our sales pitch: The well-appointed 2,400-square foot home features all the high-end finishes you expect in this price range, along with access to building amenities like a fitness center, pool, and 2 deeded parking spaces. Views? Check. Then again, why not wait it out another couple weeks to see if the price drops further?
·Listing: 1211 S. Prairie, Unit 5605 [Keller Williams]