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GlobeSt.com UPDATE: Hotel Condos Sell Quickly

CHICAGO-The first 63 units at The Morton, formerly the Printer's Row Hyatt, sell out in less than three weeks. The Falor Cos. has 115 units remaining.

By Mark Ruda | Updated on July 16, 2004

CHICAGO-It took little more than two weeks for the first phase—63 units—of the conversion of the former Printer’s Row Hyatt into hotel condominiums to sell out. The Falor Cos. bought the 161-room hotel at 500 S. Dearborn St. earlier this year and plans to convert the 108-year-old building to 178 hotel condominiums, a trend started in River North.

However, while construction has yet to start on the Trump International Hotel & Tower and The Elysian, closings on sales at The Morton are being scheduled for later this year. And at an average of $225,000, the price point is about half that of the two projects in River North.

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