Sedgwick Properties Development Corporation has announced the sellout of all 17 residences at Hermitage 1611, a new luxury condominium development in the city’s Bucktown neighborhood. The three-bedroom, two-bath residences, which range in size from 1,800 to 2,300 square feet were priced from $650,000 to $900,000 and represented one of the few high-end new construction condominiums in Bucktown.
“We saw an opportunity to be at the development forefront and meet a need in an underserved market and we took it,” said Marty Paris, president of Sedgwick Properties. “It became clear to us through our comprehensive analysis of the market that there was a desire for high-end, luxury residences in the Bucktown neighborhood.”
At the start of construction in October 2013, Sedgwick had already reached 60 percent sold. Move-ins began in the spring and the final closing took place in August.
“A luxury, new-construction condominium project like Hermitage 1611 is still very unique to Bucktown,” said Paris. “There’s just not a large supply of new construction in this area that offers this caliber of finishes unique to Hermitage 1611.”
According to Paris, in addition to the development’s desirable location, buyers were immediately drawn to the premium interior finishes, such as 10-foot ceilings, white oak hardwood flooring; quartz or granite countertops; Grohe and Hasgrohe plumbing fixtures; custom Italian cabinetry; professional-grade Viking and Bosch appliances; full-size front-load in-unit washer and dryers; and high efficiency HVAC systems.
Another selling point of 1611 Hermitage was that buyers were able to customize their units with various upgrades and were given the opportunity to meet with an interior designer. Additionally, Sedgwick partnered with a third-party technology vendor, offering buyers the opportunity to select and install customized technology packages that included digital control of the home’s audio visual systems, motorized shades, automated lighting control, surround sound speakers, and more.
“Many of our buyers had been living in luxury rental towers with high-end appliances and finishes, so they weren’t looking to settle when they were ready to buy, and at 1611 Hermitage they didn’t have to,” said Paris.
“Beyond the long list of high-end features, each individual unit offered a large amount of outdoor space, a trademark of Sedgwick Properties’ developments, which was just one more thing that attracted many of our buyers,” said Paris. In addition to front balconies, the building’s second floor units have large rear terraces and penthouse units include private 1,000 square-foot rooftop decks.
Hermitage 1611 offers private elevator access to each unit, heated indoor deeded parking, Pressbox dry cleaning service and storage. The building also has 3,700 square feet of ground-level commercial space, slated to be occupied by a fitness studio later this year.
About Sedgwick Properties
Founded in 1996, Sedgwick Properties Development Corporation, one of Chicago’s premier development companies, is a full-service real estate company specializing in both residential and commercial development, with a particular focus on the multifamily market. Sedgwick Properties’ in-house team of architects, developers and construction engineers brings a unique perspective to each project, from inception to completion. To learn more, visit www.sedgwickproperties.com.
1611 Hermitage, Sedgwick Properties’ 17-unit, luxury condominium development, is one of the few high-end new construction condominiums in Bucktown.
Residences at 1611 Hermitage offer private elevator access to each fully customized unit.