You may or may not be aware that the city and our alderman up here in the 46th ward are giving Sedgwick $70 million for a development. I've not seen any posts/news about their South Loop projects for over a year. Do you or your readers have impressions to share? How do the Marquee and Terrazio rate? Good construction? Good neighbors? Were these TIF developments?I'd like some outsider opinion before they come with their dog and pony show next week.
(Hat Tip: Brad!)
14 comments:
Personally, I think Sedgwick does some of the worst quality work in the neighborhood and the agents they hire are even worse. My wife and I nearly made the mistake of buying in the Marquee and the Terrazio when they were under construction and I can't tell you how happy we didn't now that we've seen both buildings inside and out in the flesh. The designs/finishes are cheap (unless you pay out the arse to upgrade), floorplans small (a 10'x9' master BR?!?) and walls thin (I've heard on multiple accounts that you can hear EVERYTHING). We've spoken with a handful of realtors and none in the South Loop area have had great things to say about either building, especially the Marquee, which due to the faltering economy has an exorbitantly high percentage of young renters who visibly care less about the building than live-in owners would. While I realize I'm getting into post-developer comments here, the difference in overall quality of living environment is just feels cheap and disappointing when compared to that of a Museum Park building. Go tour a building from each developer and share your thoughts.
Almost all the dumpy buildings in the south loop have a high amount of renters, both young people and those who would otherwise never be able to afford living downtown if not for HUGE price drops. Clearly, these people don't care AT ALL about property values. This ecomonic downtown coupled with the grave commercial state of this neighborhood equals doom-and-gloom. Many of the buildings in this neighborhood are starting to look and feel like projects.
I'm not sure I care that much about Trader Joe's; however, calling the "residents" of Hilliard and Long Grove "paracites" is an insult to hard-working parasites everywhere.
The sad, but true, cold hard fact: this neighborhood will NEVER be able to realize its full potential as long as Hilliard, Long Grove, and the remaining Ickes are the cornerstone of the Cermak corridor.
I live in the Marquee and purchased from Sedgwick last year (post-development). While I was extremely unhappy with the negotiation/buying process, the price was cheap. My unit is wonderful and not "dumpy" as one commenter describes. I have beautiful maple cabinents, hardwood floors, granite, stainless, all the nice upgrades and a decent size patio too. The management isn't stellar, but improving with the hiring of Amy. I don't have a problem with noise or renters. My floor is very quiet and the only thing I hear are people coming and going in the hallways. I can't speak to how everything was sold/setup during construction, but I like living in the building.
Sedwick - found it interesting when someone told me that it might have been Sedwick that sold the city, for $10MM of TIF money, the lot at 16th and Wabash behind True-Rock Ministries to build a proposed a park.
If that lot is worth $10MM, I have some swamp land in Florida to sell you. Something smells fishy in my opinion.
I purchased a unit in the Marquee and also considered Museum Park. I upgraded my unit with the help of a contractor and am very pleased with the results. It's a solid building and I have a comfortable home with stunning views at a more affordable rate than some other options in the area.
The only issues I've had with noise are with a few people who have occasionally raised their voices in the hallway. In general, the people who live in the Marquee are respectful and friendly.
Unfortunately the economy has taken its toll on everything and everyone. I would rather see a finished project in the neighborhood like the Marquee than other failed projects like the empty lot where Glashaus was planned on Wabash, Eco 18, and the blighted corner that Museum Park owns at Michigan & Roosevelt.
I don't live in the Marquee but did look into the building before they broke ground. I didn't buy because I needed to move in soon and couldn't wait for development. Now that it is done, I don't care for the building color at all. It stands out against the skyline and looks really bad if you are in Coliseum Park.
Where is the development going to be that the $70million is going towards?
I think its going to be a fish farm or some hippie thing like that.
The 70mm is for a project at the site of the former Maryville at Montrose/Clarendan.
I figure they can't be that good if they need $70 million to make a profit with property on the lake.
Sedgwick Properties perpetuates still) - for years after project completion. The unit layouts are easily the worst out there. They have countless liens and lawsuits pending on virtually every project they have done. Talk to any subcontractors who have worked for Sedgwick and they will confirm the above. I have friends who are friendly with some Sedgwick staff (current and former) and the horror stories that I have heard are numerous and frightening. These are bad people and I feel sorry for any person unfortunate enough to have dealings with the scumbags known as Sedgwick Properties.
Sedgwick Properties is hands down the worst business I have ever dealt with. I currently live in one of their properties (the Marquee), and there have been two instances of pipes bursting and resulting severe flood damage to about a dozen units. Other problems with units have included: electrical issues, plumbing problems, ventilation systems and bug infestation.
They basically have a poorly constructed building that they walked away from. I've talked to numerous neighbors in the building- all that I know that did a rent with an option to own chose not to purchase after living there. There are a few people who don't seem to have problems, but most are pretty frustrated with their experience with this developer. I know I am.
Really wish I had read this before I started renting @ Terrazio...
I don't have much to add except to reinforce that the company is completely incompetent, cheap, and insulting.
My apartment was never given a full clean before I moved in, their response to this was to send in one guy with a rag and no other supplies to wipe down my sinks... twice, and then tell me it should be clean now and my standards for cleaning are too high.
Chunks of concrete were still on the floor when I moved in.
I guess you always get what you pay for
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