Trump Struggles to Sell Condos in Chicago

The Chicago Tribune reports:

For developer Donald Trump, a press conference may not solve every problem, but it's worth a try.

In an effort to turn around a slowdown in sales of units in his luxury tower being built along the Chicago River, Trump on Thursday will meet with reporters to deliver a message: He's got a sale going on.

"We're pricing to sell," Trump said in an interview Wednesday about his 825-unit Trump International Hotel and Tower now under construction. "People think we're sold out but we're not."

Indeed, Trump needs the publicity. Of the 825 units in the 92-story tower, 224 condominiums are still for sale. Trump, 60, is hoping that his appearance, along with three of his five children—Donald Jr., 28, Ivanka, 25, and Eric, 22, who are all working at the tower—will help at a time when he claims Chicago's sluggish housing market is hurting sales.

"There's no question, the market has taken a serious hit and is slowing," Trump said. "But it's a great time to buy in our building because we aren't raising prices."

Trump also said that competition from "the better markets in other locations like New York, Las Vegas and Los Angeles," is affecting sales in Chicago.

Good luck to Donald.We here from the real estate gurus:it's always a good time to buy.Imagine that.