USInvestments: Apartments in Chicago's South Loop, in a development built on the site of the Lexington Hotel - Mafia godfather Al Capone's headquarters in the Prohibition era - are going on the market in Dublin and Limerick in the next few weeks.
Limerick-based Chieftain Group will be selling 333 one and two-bedroom apartments costing from €200,000 in Lexington Park, a 35-storey development at the junction of Michigan avene, Cermack street and Indiana Avenue, close to the central downtown business district. The selling agent is Hamilton Osborne King.
It is in walking distance of Millennium Park and lakeshore walks beside Lake Michigan and two blocks from the overground L Train.
Apartments will have timber floors, stainless steel kitchen appliances and marble counter tops.
The development will have a 24-hour concierge facility, a gym and residents' room.
Chieftain and HOk say that the units should attract investors both because of likely good retnal returns and easy payment terms.
The contract deposit on an apartment is 10 per cent, with the balance payble on completion, according to HOK director Ronan O'Driscoll.
And the Chicago market has seen average annual price appreciation of 9 per cent in recent years.
Lexington Park will be launched by HOK in the Westbury Hotel, Dublin 2, on May 6th and 7th and in the Clarion Hotel, Limerick, on May 12th and 13th
