Comments on "Condo Prices Near A Cliff"

Interesting article by Susan Diesenhouse in the Tribune yesterday.

Frankly, I'm not surprised that the first of the big Chicago developers to bail out of the market is American Invsco Corporation. They're known for converting boring old apartment buildings with no glamour (low ceilings, no in unit W/D, limited amenities, etc.) into entry level mediocre condos. I kinda think these buildings should have remained apartments anyhow.

In the next month I predict we will hear more reports of big Chicago condo developers bailing. It'll be more meaningful when the developers known for building quality new condo construction (I know these are few and far between!) begin to pull in the horns.