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565 Quincy - High-rise lofts & condos in Chicago's West Loop
Year opens with price cuts at 565 Quincy
Belgravia Group kicked off the 2010 by making it easier than ever to buy a home at 565 Quincy, a new tower combining elements of an authentic concrete loft building and a new construction condo high-rise.
The developer has cut the prices of remaining homes by as much as 30 percent, bringing junior one-bedroom condos originally priced in the $200s down to the mid-$150s, and two-bedroom lofts originally priced as high as the $480s down to the $370s and $380s. The project has been approved for FHA-backed loans, meaning buyers can make down payments as low as 3.5 percent.
“It’s about price these days,” says Belgravia Vice President Jacob Kaufman. “We’ve been holding onto our prices longer than any other developer in the city of Chicago, hoping that the world would come back. But the world changed without our permission, and the market has reached a new level.”
565 Quincy’s location at 565 W Quincy St places residents near the heart of downtown Chicago. From the building’s front door, they’re just steps away from the doors of Union Station, from which they can travel via Metra and Amtrak to destinations citywide or nationwide, and right across Jackson Boulevard from the beloved Lou Mitchell’s Restaurant & Bakery. Within a two-block radius lie the Kennedy Expressway, the Ogilvy Transportation Center, the Clinton Street Blue Line station, and the western reaches of the Loop.
Not that anyone needs to leave 565 Quincy to have fun, of course. Belgravia converted the building’s basement into a multi-purpose amenity level called the Q Room. There, residents can roll frames on private bowling lanes, practice their short game on a putting green, square off in rounds of foosball or pool on one of the room’s many game tables, exercise in a fully furnished fitness room, or take in a flick in a theater room. On nice days, they can fire up a grill on the building’s spacious eighth-floor terrace.
The building’s adapted loft spaces, located on the fifth, sixth, and seventh floors, have one or two bedrooms and 809 to 1,180 square feet, and are now priced from the $220s to $380s. The new construction condos on floors 8 through 18 have one to two bedrooms and 547 to 1,227 square feet, and range from the $150s to $360s.
565 Quincy’s homes have private balconies, hardwood floors in the main living areas and carpeting in the bedrooms, 42-inch kitchen cabinets, granite countertops, Kohler and GE stainless-steel appliances, marble and ceramic bath finishes, and Kohler bath fixtures. Lofts feature 11-foot ceiling heights, while the new construction condos have ceilings approximately 9 feet high.
Along with the price reductions, Belgravia has also packaged one parking space in 565 Quincy’s heated garage with every unit except the building’s junior one-bedrooms. Bicycle storage and individual storage lockers are available, and the building is serviced by a 24-hour door staff and three passenger elevators.