Baby Boomers Coming Back to the City for Chicago Real Estate

Downtown Chicago Condos

Downtown Chicago condos are becoming more popular among Baby Boomers, with buildings like Trump Tower that offer the space of the suburbs but the conveniences of city life.

Chicago has no shortage of “it” neighborhoods—from Bucktown to River North, the Gold Coast to Lincoln Park, these are communities rife with great real estate and things to do, particular for the young professional crowd.

But there’s another group gravitating toward these young, hip neighborhoods: Baby Boomers. And not just in Chicago—major cities across the country have seen an influx in the middle-aged crowd to their urban/downtown areas as well.

The Wall St. Journal recently covered the trend, citing a number of urban areas many men and women are headed as they reach middle age. This is certainly the case for Chicago real estate as well.

Whether folks are nearing retirement, becoming empty nesters or simply looking to make a life a little easier, there are a lot of reasons for Boomers to head into the city. Without kids, many are less concerned with having a big house and yard, being near great schools or surrounding themselves with other families. Instead want a more diverse environment with all of the conveniences and amenities they want right outside their front door.

Many of my clients have found themselves in similar situations, and I’ve helped them find Chicago homes and condos that are ideal for embarking on their new style (find more on my background here, and work with past clients here).

Downtown Chicago Condos A Great Option for Boomers

For Boomers, they’ve often accumulated the money to leave the staid life of the burbs and start on life’s journey in the city—a fitting place to do so.

Living in the heart of the city is convenient in itself. Dining, entertainment, shopping and more are generally just a few steps away, as is transportation to get anyway further than walking distance.  There are also a number of Chicago condos that are quite opportune for Boomers and empty nesters at this point in their life, with additional conveniences and amenities that fit right in with their lifestyle.

A few buildings that cater to this group include:

Lincoln Park 2550: The amenities in this building offer everything you need from morning until night, like a full-service fitness facility, a dog exercise area, outdoor lounging space, club lounge and private movie theater. The elegance and panache of this building also makes it ideal for middle-aged buyers looking for a convenient building that doesn’t feel too “young.”

Trump Tower: The modern luxury of Trump Tower is apparent in the name alone, and these downtown Chicago condos are a way of life, not merely an address. Without stepping outside the building, you’ll find a Michelin-rated restaurant, an internationally acclaimed spa and an outdoor terrace with unbelievable vistas of the beautiful surrounding city. It’s location puts its residents close to their offices downtown, plus Trump Tower is adjacent to the Magnificent Mile, and has a serene riverwalk just steps from the front door.

Ritz-Carlton Residences: The great thing about Chicago luxury condos is that they rarely skimp on space, so you don’t have to give up the square footage you might be leaving behind in the ‘burbs. Homes in the Ritz-Carlton Residences range from 1,400 to 6,000 square feet, and the building includes features like a full-floor private club, a screening room, a state-of-the-art facility and much more.

With buildings like these that can emulate the space and luxury of a suburban home, but add the service and accessibility of city life, it’s no wonder that more and more Baby Boomers are making their way into city of Chicago zip codes. To learn more about downtown buildings suited for the Boomer lifestyle or to see what’s on the market, give me a call at (312) 498-5080 or email me at ssalnick@dreamtown.com.

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