However, while construction has yet to start on the TrumpInternational Hotel & Tower and The Elysian, closings on salesat The Morton are being scheduled for later this year. And at anaverage of $225,000, the price point is about half that of the twoprojects in River North.
"We believed from the outset that there would be heavy demandfor a condominium hotel in Chicago at this price point," says BillFields, president of residential brokerage for Chicago-based SudlerReal Estate, which is handling sales and marketing.
Buyers choose package of 35 nights, 14 nights or no nights atthe units for themselves. When not in use, the units will be rentedby San Francisco-based boutique hotel operator Kimpton Hotels &Restaurants, which already is in the market with The Hotel Monaco,The Hotel Allegro and The Hotel Burnham.
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