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| Monday, June 17, 2002 | |
| For: | One
One One Morgan Winthrop Properties |
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Condo Buyers Ahead of Tech Curve at One One One Morgan |
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The developer of One One One Morgan, a new loft building under construction in the West Loop, recently announced that it is including a high-tech wiring package that will provide building residents with state-of-the-art Internet, phone and satellite TV capabilities. Winthrop Properties has contracted with Tunnel Vision Inc., the largest residential technology provider in Chicago, to outfit homes at One One One Morgan with structured wiring for audio/video, multimedia, communications and home-automation systems. The building, which is located at Adams and Morgan streets, offers 166 loft condominiums with one to two bedrooms plus den, one to two baths and 680 to 1,535 square feet. Base prices range from $180,900 to $426,000 with indoor parking available for $25,000 per space. There is also a three-bedroom, 2,376-square-foot duplex penthouse available for $726,000. "We've put together one of the most comprehensive packages in the new-home market, giving residents of One One One Morgan 'plug-and-play' capabilities for all of the 21st home technology we've come to rely on in our daily lives," said Winthrop Properties co-principal Bob Horner. "We've also made certain that the building's high-tech infrastructure will support technology enhancements well into the future." Every condominium will include three outlet locations offering two RG6 video hookups, a Category 5 (Cat 5) telecom hookup and a Category 5 enhanced (Cat 5e) computer hookup. The setup gives homeowners the flexibility to operate audio, video, satellite TV, phone, fax, and computer from the same location - all at peak performance. Cat 5 and Cat 5e wiring has four twisted-wire pairs enabling multiple phone/fax lines and the capacity for high-speed data transmission that is five times faster than DSL.
According
to Horner, Internet access and satellite TV service will be included in
the homeowners' monthly assessment. Those upgrades can include hubs and routers for computer networking, custom lighting systems, custom home-stereo and home-theater systems, and home automation. "This feature is going to enhance the resale attractiveness and value of these homes," said Horner. "We don't know what forms home technology will take in five years, but we do know that these condominiums will be able to accommodate them, while other homes that are being built today will require expensive retrofitting." David Welles, president of Tunnel Vision Inc., said, "The technology at One One One Morgan places Winthrop Properties among the top 5 to 10 percent of developers, in terms of what's being offered to homebuyers today. By offering a total solution, they're really putting their buyers ahead of the curve." To complement that total solution, Tunnel Vision serves as a one-stop shop for home-technology equipment and service. While the company does not retail to the general public, it does make available to its builders' clients state-of-the-art equipment such as plasma TVs and home-entertainment systems. It also meets with homebuyers during construction to go over outlet locations and explain various upgrade packages. And it provides follow-up services and support after the sale. "About 50 percent of homebuyers decide to upgrade," said Welles. "The packages can range in price from a few hundred dollars for surround-sound wiring to about $25,000 for all of the bells and whistles." Winthrop Properties co-principal, Ibrahim Shihadeh, said the decision to include the high-tech infrastructure at One One One Morgan is consistent with the developers' mission to offer superior standard features in the base price of their homes. "Throughout the development process, we've identified areas where we can add value. That's our thinking behind free granite countertops, free imported Italian cabinetry, free fireplaces and oversized balconies. And it's certainly why we decided to take this bold step in home technology," said Shihadeh. One
One One Morgan offers a new-construction-loft concept with exposed ductwork,
10-foot ceilings and open floor plans. Common amenities include a 24-hour
doorman, individual storage, high-speed elevators, and a high-rise fire-protection
system. The sales center for One One One Morgan is located at the Southeast corner of Morgan and Jackson, two blocks west of Halsted. It has a decorated kitchen/living room vignette. To reach the sales center, take Interstate 90/94 to Adams Street, go west to Morgan, turn left and continue south for one block. Sales hours are 11 a.m. to 6 p.m. daily. For more information, call (312) 421-0111 or visit www.111morgan.com. Winthrop
Properties is a joint enterprise of developers Bob Horner and Ibrahim
Shihadeh. Horner and Shihadeh share more than 40 years of real estate
experience, during which time they have built and sold more than 5,000
homes. #
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