I checked out the Ellington Lofts today since they are putting on this auction on may 9th. The prices are insanely cheap [[I know, it's just a starting bid, but still) - most are going for 50 to 60 % off the original price. The lofts are fantastically beautiful with magnificent views of the city. You can get a two bedroom corner loft, with spectacular views and a great patio for 115,000 starting bid. The economy is bad and with the 25 remaining lofts that are up for bid, only about 10 people have pre-registered to attend the may 9th auction. If the number stays that low, you'd have a great chance of getting the lofts as cheap as the starting bid.