Despite the bleak housing market,
Willys Overland Lofts has sold seven units without resorting to slashed pricing and before they had the benefit of an on-site sales office. Four are occupied, with the remainder undergoing build-out.
Sales associate Jason Peet attributes this relative success to the fact that owners are able to take advantage of architecture services from DeMattia Group's in-house talent. Once a unit is purchased, custom design work and construction can be accomplished in just three months. "Higher-end buyers get that that's worth a lot of money to work with architects," he says.
The 75 lofts range in size from 850 to 2,950 square feet. Fifteen ground floor units can be configurated into live/work spaces -- a fact already evident at
Re:View Contemporary Gallery, which fronts on Willis -- whereas nine of the 15 front the building's gated guest parking lot.
Sixty units are in the original structure; 15 are two-story penthouse units in a rooftop addition. Most units have outdoor access via either a fenced-in lawn area on the ground floor, a balcony or a rooftop patio in the case of the penthouses. All units include indoor resident parking as well as reserved spots in the guest lot.
Prices range from $158,000 to $620,000; two of the sold units hover in the $500,000 range. Willys is in a Neighborhood Enterprise Zone, which reduces property taxes for the buyer and has a relationship with National City Bank's N-CHAMP program, which has the ability offer interest rates below prime. One last buyers' bonus: MSHDA has packaged a dozen $10,000 down payment assistance grants for buyers who are income-qualified.
Contact Peet at 313-832-2000 for more information or to schedule a tour. Now that there is a full-time sales office on-site, he hopes to be kept rather busy.
Source: Jason Peet, Midtown Development
Writer: Kelli B. Kavanaugh
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