Loan approved for Catalyst
The developers of Catalyst, a high-rise condominium development planned for 123 N Des Plaines Street, received approval for a more than $8 million loan for construction of the property. The total cost of the development is expected to rise beyond $100 million.
The development is led by Urban R2 Development Company, and the building is designed by renowned architect Lucien Lagrange. Buyers can choose from a number of different floor plans in the 217-unit Catalyst. The most affordable condominium is a studio unit priced at $200,000, while the largest unit offers three bedrooms and is listed at more than $1 million.
Residents will enjoy a number of luxury amenities, which include a fitness center, business center, party room, and sauna. Residents can also get a massage in the massage therapy room or unwind in the Jacuzzi. Parking will also be available in the underground heated garage. About 15,000 square feet of retail space will be located on the ground floor.
More than 30 percent of the units at Catalyst have already been sold, despite a slowdown in sales around the city. This development is one of several that are new to the Chicago Real Estate market in downtown.
Technorati Tags: Chicago Real Estate For Sale, Catalyst Condominiums, Chicago Condos
