Looking for a waterfront condo?

May 7, 2009
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Morse Lake CondosAn auction has been set to sell nine remaining waterfront condos in a bank-owned development on Morse Lake in Cicero. The project, One Waterfront Plaza, is in receivership after the now-defunct DayMarc Homes defaulted. Each of the units, which range from 1,750 square feet to 2,600 square feet, overlook Morse Lake and include a covered parking garage, boat slip and access to a heated swimming pool. Two of the condos are complete, and the others are white boxes. Preview days are set for May 23 and May 30, and the auction is set for June 27. Auctioneer Bob Getts of Colliers Turley Martin Tucker is handling the sale. What's your bid?
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  • one dollar, bob.
  • i see what you did there
  • Depends on: whether you'd have to put all the kitchen and bathroom and flooring and mechanicals (heating, cooling, hot water) in that white box, what the comps are for completed units, whether the unit can be rented out long term, whether the boat slip can be subleased, whether the unit can be sold on contract, and how much the CAM and association costs are.
  • So you're saying there's a chance!

    The article said that the auction is for nine remaining. What did the condos that were sold go for?
  • any info on the harbour town condos on morse at little chicago and carrigan? only one building vacant for years now.... http://www.harbourtowncondo.com/index.php

    any chance this blog will ever pick up and cover some ground?
  • well, sold units went for about 350k for the smaller and about 469 for the midsize and 550-650 for the larger. None of the upstairs units sold, they were asking 700+
  • Jim Shook at Coldwell Banker Commercial has the Harbour Town condos and the adjoining apartments for sale.
  • thanks for the info. So if the apartments and the condos are for sale am I correct in assuming that no further units will be built? It's just as well, they're hideous...

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  1. John, unfortunately CTRWD wants to put the tank(s) right next to a nature preserve and at the southern entrance to Carmel off of Keystone. Not exactly the kind of message you want to send to residents and visitors (come see our tanks as you enter our city and we build stuff in nature preserves...

  2. 85 feet for an ambitious project? I could shoot ej*culate farther than that.

  3. I tried, can't take it anymore. Untill Katz is replaced I can't listen anymore.

  4. Perhaps, but they've had a very active program to reduce rainwater/sump pump inflows for a number of years. But you are correct that controlling these peak flows will require spending more money - surge tanks, lines or removing storm water inflow at the source.

  5. All sewage goes to the Carmel treatment plant on the White River at 96th St. Rainfall should not affect sewage flows, but somehow it does - and the increased rate is more than the plant can handle a few times each year. One big source is typically homeowners who have their sump pumps connect into the sanitary sewer line rather than to the storm sewer line or yard. So we (Carmel and Clay Twp) need someway to hold the excess flow for a few days until the plant can process this material. Carmel wants the surge tank located at the treatment plant but than means an expensive underground line has to be installed through residential areas while CTRWD wants the surge tank located further 'upstream' from the treatment plant which costs less. Either solution works from an environmental control perspective. The less expensive solution means some people would likely have an unsightly tank near them. Carmel wants the more expensive solution - surprise!

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