The Windy City condominium market may be struggling, but one condo success story is happening at 200 North Dearborn Private Residences, a 47-story high-rise conversion in the heart of Chicago’s Loop.

Nicholas S. Gouletas, chairman and CEO of American Invsco, reports the company recently conducted a five-day mass closing at Chicago Title & Trust Co. for nearly 100 units at the 309-unit high-rise.

“We are averaging seven or eight sales a month and are approaching the 50-percent sold mark,” said Gouletas, who has successfully developed, marketed and managed more than 40,000 condominiums nationwide valued at more than $4 billion since 1969.  

“Buyers include a mix of Loop workers who want to walk to work, pied-a-terre purchasers seeking an in-town near the Loop Theatre District, and investors from as far away as California,” said Stefanie Neuman, sales manager at 200 North Dearborn. Prices range from $238,600 for a studio to $562,600 for the most expensive penthouse.  

“Although nearly 150 of 309 units at 200 N. Dearborn already under contract, we still have a very nice selection of residences from which to choose,” Neuman said.

A sales center is open on the 35th floor of 200 N. Dearborn, located at the corner of Dearborn and Lake, and 10 professionally furnished and decorated model units are on display.  

“A fabulous upgrade package ranging from $21,000 to $70,000 per residence is also available based on unit type,” noted Neuman.

Here’s a breakdown of the available residences along with current pricing:

• Studios with 535 to 570 square feet of living space are priced from $238,600 to $239,800.

• Convertibles with 590 square feet of living space are priced from $271,000 to $285,600.

• One-bedroom, 1-bath residences with 775 to 890 square feet of living space priced from $304,800 to $410,600.

• Two-bedroom, 1-bath residences with 1,060 square feet of living space are priced from $448,400 to $458,900.

• Two-bedroom, 2-bath residences with 1,165 to 1,205 square feet of living space priced from $462,900 to $551,900.

• Penthouses featuring 1 bedroom and 2 bedrooms, 1 or 2 baths and 590 to 1,205 square feet of living space are priced from $292,600 to $562,600. There is a possibility of combining penthouses to make a larger unit.   

Almost all of the units have private balconies that face the lake to the east and the downtown to the west.

“The incredible views from 200 North Dearborn showcase the finest architecture in the country,” Neuman said. “Residents will never get tired of these spectacular views of downtown Chicago.”

The building includes a 24-hour doorman, fitness center, heated indoor swimming pool, sundeck, party room, laundry facilities and a White Hen convenience store. The building also has same-day maintenance service, dry-cleaning and valet services.

Five floors of indoor parking are available with a total of 103 spaces. Approximately 25,000 square feet of retail space is provided in the building.

200 North Dearborn also is within a short stroll to the downtown Theatre District. With the spring theatre season in full swing, American Invsco currently is inviting potential buyers to stay for overnight for a long weekend in its “Theatre Suite” at the high-rise

“200 North Dearborn is the ideal in-town residence location for those who regularly enjoy the finer aspects of downtown Chicago—from the Loop’s dynamic Theatre District to fine restaurants and shopping opportunities,” said Gouletas

The high-rise is just steps or a short stroll from eight major theatres, including: the Goodman Theater, the Chicago Theatre, the Ford Oriental Theatre, the Storefront Theatre, the Chicago Cultural Center, Chicago Temple, Shubert Theatre, Cadillac Palace Theatre and LaSalle Bank Theatre.       

To showcase both the nearby theater district, American Invsco is inviting condo shoppers to stay for a long weekend for free this spring in its Theatre Suite.

“We want people to come downtown, stay in the suite and perhaps invite another couple to come to dinner before they head out to one of the nearby shows,” Gouletas said.     

“This is a wonderful place to invite family and friends to spend time together before and after the theatre,” Gouletas said. “It also is the perfect pied-a-terre—a place to spend a long spring weekend in town to enjoy two or three plays plus all the city has to offer.”     

As part of a special Theatre-Suite opportunity, Gouletas said American Invsco willing to provide a completely furnished and decorated luxury condominium appointed with fine marble baths and a highly upgraded granite kitchen with top-of-the-line stainless-steel appliances.

“We’ll even set out the finest silverware and glassware if you require it,” he said.      

“In April, theatre lovers can stroll over to the Goodman for “The Trip to Bountiful” or head to LaSalle Bank Theatre and enjoy “Jersey Boys,” take in “The Drowsy Chaperone” at the Cadillac Palace, or watch “Wicked” at the Ford Oriental. For more details, visit: www.BroadwayinChicago.com.

The building is located in the heart of Chicago’s Loop, steps from transportation, the Theatre District, Millennium Park and Michigan Avenue’s “Magnificent Mile” and State Street shopping. Lake Michigan is a few blocks to the east.  

In addition to the Theatre Suite offer, American Invsco also is offing attractive buyer incentives at 200 North Dearborn, including a great opportunity to purchase one of the few remaining parking spaces in the building at an attractive price.

American Invsco, one of the nation’s largest condominium marketing firms, successfully grand opened 200 North Dearborn Private Residences last year with the sale of 80 condominiums valued at $25-million during a special computerized event

The sales center at 200 North Dearborn is located on the 35th floor in Suite 3507. It is open seven days a week from 10 a.m. to 6 p.m. and off-hours by appointment. Walk-in traffic is encouraged and welcome.

For more information, call 312-558-1200 or sign up for an appointment or more information with an on-line visit to: www.200NDearborn.com/event.