Chicago Agent Magazine - June 5, 2009

$100,000 price reductions stimulate R+D659 condo buyers

Even without the help of the federal government, one Chicago company has found the key to success in a tough real estate market-make the price of their hip new condominiums so "stimulating" that more than 30 homes have been sold in less than one week. Mesirow Financial Real Estate has initiated a 'Stimulate on This' marketing campaign that features typical price reductions of over $100,000 on many of the homes in their luxurious R+D659 West Loop high-rise. Dominic Adducci, a managing director at Mesirow, believes there is a large pent-up demand among potential first-time buyers.

Even without the help of the federal government, one Chicago company has found the key to success in a tough real estate market-make the price of their hip new condominiums so "stimulating" that more than 30 homes have been sold in less than one week. Mesirow Financial Real Estate has initiated a 'Stimulate on This' marketing campaign that features typical price reductions of over $100,000 on many of the homes in their luxurious R+D659 West Loop high-rise. Dominic Adducci, a managing director at Mesirow, believes there is a large pent-up demand among potential first-time buyers.

"This 'once-in-a-lifetime' opportunity has clearly been successful in attracting people who had previously been reluctant to buy a new home," said Adducci. "This coupled with incentives such as the $8,000 first-time homebuyer credit has motivated a lot of people." Adducci added, "It also helps that we are offering a high quality home that people love, but hadn't been able to afford before."

R+D659 is a contemporary 17-story glass and concrete high-rise located at the corner of Randolph and DesPlaines Streets. The modern building features 236 condominiums ranging from 655 square feet to over 1,600 square feet. One bedroom condos previously priced at $346,000, are now priced at $237,000. One bedroom plus den condos priced at $409,000 are now $293,000, and two bedrooms that used to be $459,000 are now "stimulatingly" priced at $341,000. In addition to fantastic price reductions, visitors will be delighted that the building offers over 20 varieties of floor plans, making it easy to satisfy each individual buyer's needs. The open layouts have been designed to flow flawlessly from one room to another, all complemented by carefully chosen modern finishes. Each residence is accented with European-style cabinetry in the kitchen and baths; granite kitchen countertops; stainless steel appliances; and wood flooring in the living spaces. The homes feature 9-foot ceilings and 12-foot ceilings on the penthouse floors. Beyond the interiors of the homes, R+D659 also offers many impressive building amenities. The newly completed residents-only lounge features a flat screen TV, pool table, full kitchen, dining area, business center. Adjacent to this is a fully equipped exercise room. With summer finally here, owners will enjoy extraordinary outdoor amenities such as a swimming pool, sun deck, Japanese-style garden, dog run, and an outdoor grilling area. Visitors can now see the decorated model, amenity room and tour the building by stopping at the new sales office within the building located at 659 W. Randolph. Sales hours are 12:00 to 5:00 p.m. daily or by appointment. For additional information, call: 312-474-0659. Prices are subject to change without notice.