Estate Of the Day: Minneapolis’ Ivy Tower

November 8, 2007 | Posted by bLavish as Estate of the Day at 8:00 am | Comments off

the-ivy.jpgMore & more these days, folks are leaning towards condo purchases instead of houses, and in this day in age, it’s actually a pretty smart decision.

Minneapolis’ Ivy Tower was scheduled back in 2000 to be demolished, but investors bought the property for a little less than $400,000, with the hopes of turning the tower floors into office suites.  Well, back in 2005 the original investors decided to go an alternate route & grabbed some financing for the now $100 million development of luxury condos.

Right now, the Ivy has only five condos remaining unsold, out of 96!  Talk about smart investing!