Magellan Development Wanda Corporation, Lakeshore East Development Misleading sales, failed to deliver on construction Chicago Illinois

Like almost every (if not every) building that Magellan has had there fingers in when developing the Lakeshore East project, I was told all sorts of things about our building before it was built when I stupidly bought pre-construction.  This report, like others on the web, is a very specific warning to anyone thinking of buying pre-construction in the Wanda Vista building that Magellan and McHugh are selling and building.  Don't do it.  Or, if you reeeeeaaalllly want to give them your money, talk to people at the Lancaster, Regatta and Chandler buildings to see how Magellan's sales people will tell you all kinds of things and then not deliver. 

Take a look at our building, Chandler.  We've been there for years now, and the first floor is still and empty shell that's papered up, because Magellan KEPT IT FOR THEMSELVES.  The wonderful workout area, amenities etc did not happen.  It was worse, from what I hear, at the Regatta and Lancaster, where they were told they'd have great workout facilities and then were jammed into little crappy corners of the buildings.  Both buildings took years and lots of their own money to fix what Magellan never delivered.  I talked to people at the Regatta and Magellan didn't put in critical building elements, leaving out about 1 million dollars worth of construction, and instead of paying or fixing it, they "gave" them the first floor space that was supposed to be their gym, but Magellan had kept it for themselves.  And for parking, don't get me started!  Parking is not secure in this "high end" building.

  There are public easements for all spaces that are easily entered.  You want a heated garage for your high end property?  It can't be done.  Oh, and don't also forget about the "surprise" extra tax you pay for the bonds (for the next 25 years or so) for the park, whether you use it or not.  BTW, that park is public...you're paying for bonds to pay for a park run by the Chicago park district.  Nice scam, huh?  Do NOT buy preconstruction, buy only what you KNOW they will deliver.  If you just can't help giving Magellan your money, GET AN ATTORNEY who will go through every line for you of the contract.  Do NOT accept something in the contract you don't like...you don't like it, don't sign it.