The Name to Know From Chicago Luxury Condo Sales in April: 9 W Walton

The new construction luxury market is alive and well, as April’s condo sales made clear. Sales were strong last month, with a healthy number of ultra-luxury prices. Eleven properties closed for more than $2.5 million.

For the luxury buyer, a high price point of several million is not an issue for the luxury buyer when it has everything to offer. A prestigious building, ample square footage and incredible views are just a few big-ticket features that buyers are willing to pay for. The great thing about Chicago is that these features don’t have to be a trade-off to live in the heart of the city. In fact, Chicago has a number of buildings in which a buyer can get 3,000 square feet, affording them the space that they could get in the suburbs. I always recommend my clients consider at least this much space when purchasing a luxury condo, as this will be easier to resell when the time comes.

Looking at the top condos to sell in April, you’ll notice there’s not much diversity—a single address was responsible for three of the top five most expensive sales.

No. 9 Walton: The Hottest Address in Chicago Luxury Real Estate
While there have been a number of new construction luxury buildings in Chicago over the last decade or so, it has been some time since one had the anticipation of 9 W Walton. Located at Walton and State streets, these Chicago condos were designed to offer a luxurious, comfortable lifestyle, and was carefully designed to tap into an authenticity and elegance that balanced modern living with the nostalgia of Chicago’s architecture.

The building design itself is incredibly thoughtful, with each unit bespoke and made to order, paying careful attention to detail and the sourcing of materials. The design is meant to engage with the city outside of it, paying tribute to the surrounding architecture while delivering a fresh standard for luxury living. No. 9 Walton was created to be a hospitality-driven building, akin to a high-end hotel—but without the hotel guests. The long list of features and amenities include everything a resort hotel has to offer, but are available exclusively to residents.

Each condo in No. 9 Walton is a home, not just a space, and is filled with impeccable details that create an unparalleled living experience. The completely finished terraces include overhead heat, letting residents extend Chicago’s famous short summers by a few months. The two- to five-bedroom floor plans are custom tailored with dramatic 10 to 12 foot ceilings.

And the building services have plenty to offer, as well, including a fully-staffed lobby and valet; a house car and driver; dry-cleaning service; full-service maintenance team; and indoor lap pool, hot tub, steam room and sauna; fully equipped fitness center; private wine storage in a beautifully detailed cellar; a large, private dining room; covered dog run; and two guest suites.

Top Chicago Condo Sales in April

There were a few other noteworthy sales last month as well. Let’s dive into a recap of the top five most expensive Chicago luxury condos to close in April:

676 N Kingsbury St676 N Kingsbury St, Unit PH608
Original list price:
$4,125,625
Sold price: $3,897,381
This spectacular new construction penthouse is a one-of-a-kind urban oasis, stretching across 4,648 square feet with a massive private roof deck. No details were overlooked, and features include floor-to-ceiling windows and private elevator access. This new boutique building is slated to have it all, with sleek modern homes, large outdoor spaces, a 24-hour doorman, garage parking and more.

9 w walton9 W Walton St, Units 1101
Original list price:
$3.425 million
Sold price: $3,791,730
The most expensive sale at No. 9 Walton is a 3 bedroom, 3.1 bath, spanning 3,172 square feet on the building’s 10th floor. The building boasts 66 condos in all, with expertly crafted interiors, five-star services and amenities and more.

9 W Walton St, Unit 1001
Original list price: $3.295 million
Sold price: $3,781,181
Another 3 bedroom, 3.1 bath unit, this one also on the 10th floor and 3,172 square feet.

9 W Walton St, Unit 1203
Original list price:
$3.365 million
Sold price: $3,708,728
This unit is clearly a winning floorplan—this is the third 3,172 square foot, 3-bedroom unit to sell during the month.

600 N Fairbanks Ct600 N Fairbanks Ct, Unit 3901
Original list price:
$4.5 million
Sold price: $3.7 million
This unique, contemporary home boasts a remarkable design, filled with unsurpassed finishes and 300 degrees of extraordinary views captured through floor-to-ceiling windows. With 4,500 square feet on the building’s 39th floor, there are a number of distinct features for luxury living. A custom library is equipped with a number of specialized features for hobbies and entertainment: a specialized exhaust system that lets you light up a cigar indoors; complete soundproofing for cranking up music; and an entertainment system with 6 cable boxes, 15 television screens and the ability to make the room completely dark. The Poggenpohl kitchen features island seating for five, and a grand dining area is adjacent to one of three stunning covered terraces. And the third ensuite bedroom includes a high-end gym and spa. And the book-matched black walnut millwork is featured prominently throughout, balancing other design elements like glass curtains and terrazzo flooring.

For more details on the Chicago luxury condos that sold last month or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

New Construction Condos at 9 W Walton Accounted for Nearly Half of the $2M-Plus Closings in March

Looking at each month’s condo sales, we can generally see some common denominators or indicators of what’s to come in Chicago real estate: a trend that buyers are gravitating toward, a hot neighborhood or even negotiating tactics between buyers and sellers.

And March’s closings definitely point to something worth watching in Chicago real estate: 9 W Walton. This new construction building is clearly making a name for itself in the luxury market already, snagging 6 of 13 sales that closed for more than $2 million during the month. The building’s popularity are a good indication that it could point to market trends in pricing for resale properties and other new construction projects.

Below is a recap of the top five most expensive units sold, which includes three units in 9 W Walton. You’ll see that the price per square foot varies—this number is a good way to compare “apples to apples” in real estate, and the price goes up with more amenities, better views and covetable features. In the case of 9 W Walton, these units closed in March were all on lower floors, which cannot typically demand the higher price per square foot without the light and views you can find on a higher floor.

For my clients moving into the city, I’m finding that they are willing to spend more money per square foot for the right features—natural light, great views, generous ceiling heights and of course, a brand-new building. And most clients—even those making the move to condo living—want at least 3,000 square feet. This is the magic number as it relates to resale value, but also seems to be the minimum amount of space that a buyer wants if they are moving into the city from the suburbs.

In the March mix of sold condos, you’ll see that everything from location to views to square footage wooed luxury buyers. Here’s a closer look at the top five luxury condos that closed in March:

25502550 N Lakeview Ave, Unit 3301
List price: $3 million
Sold price: $2.7 million
Lincoln Park 2550 is the “grand dame” of luxury living in East Lincoln Park, and this one-of-a-kind, custom residence lives up to the name. This 33rd floor condo is a rarely available corner unit located on a transition floor, bosting 12+ foot ceilings and breathtaking views of the lake, city and park. The original floor plan was completely overhauled to bring in additional light, south and east views and to boost functionality of the space. The revamped space includes incredible design details like artistic lighting, custom millwork, wide-plank hardwood floors, stunning accent curtains and more. The space includes a master suite with sitting area and huge his-and-hers walk-in closets; kitchen with Wolf, Miele and Sub Zero appliances; and an oversized terrace. The building itself mirrors the services and amenities of a 5-star hotel, featuring an indoor pool, yoga and massage rooms, a dog run, billiard/reading/media rooms, a theater, gardens and more.

The next three condos were all sold in 9 W Walton, billed as the newest and finest building in the Gold Coast. The 66 units in this building feature private, heated terraces, high ceilings, expertly crafted interior design and custom tailored floor plans. The building also boasts five-star services and amenities for its residents, including a magnificent motor court with valet, and indoor spa and pool, a two-story exercise studio, a wine tasting room and private dining. Here’s a look at the units that sold:

9-w-walton9 W Walton St, Unit 502
Original list price: $2.6 million
Sold price: $2.6 million
With 3 bedrooms, 3 baths on the 5th floor, this 2,703 square foot unit went for $962 per square foot.

9 W Walton St, Unit 602
Original list price: $2.75 million
Sold price: $2,956,579
With 3 bedrooms, 3 baths on the 6th floor, this 2,703 square foot unit went for $1,093 per square foot.

9 W Walton St, Unit 604
Original list price: $3.8 million
Sold price: $3,880,152
This 3,715 6th-floor unit went to a cash buyer for more than $800,000 more than the list price, totaling $1,044 per square foot.

401NWabash401 N Wabash Ave, Unit 87A
Original list price: $9.95 million
Sold price: $9.4 million
This custom penthouse was completed in 2015 and built to standards rarely seen in Chicago. Spanning 6,850 square feet on the 87th floor, this unit sold for $1,372 per square foot. The unit’s design is inherently livable, thanks to perfectly proportioned rooms, 16-foot ceilings, massive floor-to-ceiling windows with panoramic views, plus every amenity imaginable. Finishes and details inside include exquisite millwork, built-ins, custom stone, inlaid and rift sawn oak floors, handcrafted hardware, designer paint and fabric wall coverings, motorized shades, remote-controlled custom lighting and a7-zone A/V system. This condo was built for entertaining with grand rooms and a top-of-the-line kitchen with butler’s pantry and wine cellar. Each bedroom has custom built-ins and luxurious ensuite baths, with a master dressing room that is larger than most bedrooms. The sale of this unit also included five garage spaces and private storage. And of course, the buyer of this condo can take advantage of all of the amenities and services that 401 N Wabash has to offer, including a world-class spa and lap pool and Michelin-rated restaurant.

For more information on 9 W Walton, the condos that sold in March or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

February Closings for Luxury Chicago Condos Were All About Square Footage

Square footage is something I bring up with my clients a lot. Whether you’re moving into the city from the burbs, or are a recent empty nester, buyers are often drawn to the convenience of amenities, services and location of a Chicago downtown luxury condo—but they don’t want to sacrifice space and square footage to get it.

If this sounds like you, don’t despair—Chicago has a lot of great options for luxurious high-end condos with generous interior space. Send me your square footage requirements and I can provide you with photos and listings that fit the range you’re looking for.

February Chicago Condo Sales Offer Generous Space

I’ve typically said that buyers want at least 3,000 square feet in a Chicago condo, but recent sales are proving I may have underestimated. February sales show that clients really want a huge amount of space when purchasing a Chicago condo. In the top five sales from last month, the lowest square footage in the list clocked in at 3,200 square feet, and the largest space was a gargantuan 7,100 square feet. It’s safe to say that luxury buyers want bigger, newer and more luxurious.

That’s just what buyers got among the top condo sales last month, with 38 condos sold and a sales volume of $69 million. Let’s take a closer look at the top five closings, in descending order.

9 W Walton St9 W Walton St, Unit 3400
Original sales price: $9,912,500
Sold price: $9,912,500
There weren’t too many details available about this top sale for the month, but we do know it was a whopping 7,100 square feet of raw space. That means the buyer can make this 34th-floor home exactly what they want.

Chicago condos in Trump Tower401 N Wabash Ave, Unit 88A
Original list price: $9.5 million
Sold price: $7.7 million
A half-floor penthouse high on the 88th floor, this luxury condo in River North boasts the most luxurious panoramic views. Inside, you’ll find a truly great space for entertaining, with 16-foot ceilings, 3 fireplaces and a glamorous state-of-the-art kitchen with Miele, Bosch, Wolf, SubZero appliances. The Kohler master baths include large walk-in closets and a separate Jacuzzi room. Residents here can enjoy the five-star hotel amenities including a health club, spa, restaurant and room service.

800NMichigan800 N Michigan Ave, Unit 2501
Original list price: $3.1 million
Sold price: $2.9 million
Located in the iconic Park Tower Residences, this 3,200 square foot home is located on the building’s east side, offering sensational views from every room of Lake Michigan and the famous architecture that Chicago is known for. With 3 bedrooms and 2.5 baths, the condo was custom designed with architectural details and a floor plan that assures every room is elegant, comfortable and enjoyable. Features include hardwood floors, custom millwork, granite and marble throughout, living and dining spaces ideal for entertaining, designer kitchen appliances from Viking, Dacor, Euro Cave, SubZero and Bosch, custom cabinets, a built-in family room TV and a terrace. A premium parking space was also included with this sale.

445-e-north-water-st445 E North Water St, Unit 2401
Original list price: $2.7 million
Sold price: $2.2 million
This beautiful, full-amenity building is in the heart of Streeterville, boasting a state-of-the-art fitness center, indoor swimming pool, large party room and catering kitchen. This unit in particular spans 3,983 square feet on the 24th floor, with 3 bedrooms and a den and 3.5 baths. With a south corner exposure and dual balconies, this Chicago condo has exquisite views of the lake, river and city below. Inside, you’ll find a chef’s kitchen with granite countertops, a living area with double-sided fireplace, a beautiful ensuite master with custom walk-in closet and spa-like bath.

647 w melrose647 W Melrose St, Unit 1
Original list price: $2.299 million
Sold price: $2.199 million
A brand new construction building built on a 50-foot wide lot in East Lake View, these condos live better than a single-family home. This unit’s 4,600 square feet offers a width and breadth of real living and entertaining spaces that are hard to find. A keyed elevator entry opens directly into a large, elegant gallery. Throughout, you’ll find extraordinary finishes, 10-foot ceilings, a gorgeous chef’s kitchen, a separate mudroom, laundry room, and a fantastic lower level with radiant heat and a large family room. There is also outdoor space: A huge, private 26 x 15 foot yard and a 430-square foot covered terrace with a fireplace. And the location can’t be beat, as this home is within walking distance to schools, the park, Lake Michigan, shops and cafes.

For more on the homes that sold last month or to see what’s on the Chicago luxury condo market now, contact me at (312) 598-5080 or email me at ssalnick@dreamtown.com.

11 Luxury Chicago Condos Sold Between $2 and $3 Million in December

Considering the cold spell we’ve been having in Chicago, seeing the luxury condos that closed in December was a welcome surprise. During the month, a total of 61, $1 million-plus condos sold, reaching a total sales volume of $95 million. Twelve of those properties fell into the “ultra-luxury” category, priced between $2 million and $3 million.

Square Footage, Discounts Key to Top Condos Sold
As we’d expect, the top five condos (by price) had one common denomina
tor: close to 3,000 square feet or more, and going all the way up to 4,800 square feet. I have consistently recommended to my clients purchasing luxury property to aim for that amount of square footage at a minimum, as that is what helps high-end Chicago condos retain their resell value.

Many buyers are coming from the suburbs and trading their single-family home for something with less upkeep. But even as they are consolidating their belongings and trading in yard work for the convenience of assessments, many of them don’t want to find themselves cramped for space if they are moving from a 4,000 or 5,000 square foot home.

Another important note about the top condos that sold is the difference we see between asking price and list price. The buyers of the most expensive condos sold were able to obtain the properties for anywhere from $200,000 to $395,000 off their respective list prices. This is likely due to a few things: it was the end of the year, and many sellers are eager to make a deal and close the sale; and these buyers were able to offer cash, which helps negotiations in their favor. But in the end, the final purchase price appears to have worked in the buyer’s favor.
With that, let’s take a closer look at what the top properties had to offer those year-end buyers:

1201-s-prairie1201 S Prairie Ave, Unit 2301
Original list price: $3.395 million
Sold price: $3 million
Discount: $395,000
This half-floor condo on the 23rd floor boasts 5 bedrooms and 5.1 baths, making it a great alternative to the single-family home. The property has captivating views of Grant Park, Lake Michigan and the Chicago skyline—a must for a luxury condo in the city. Inside, you’ll find a top-of-the-line kitchen with Ernestomeda custom cabinets, Wolf and Subzero appliances; a generous master suite with two walk-in closets and a marble bath with heated floors, steam shower and freestanding tub. Other features include wide-plank herringbone floors, motorized shades and surround sound throughout. And for what you don’t find in the unit itself, you’ll find in the building: The Grant has a 24-hour door staff, indoor pool, gym, sundeck, lounge, catering kitchen, children’s playroom and theater room.

180-e-pearson180 E Pearson Unit 6402
Original list price: $2.875 million
Sold price: $2.8 million
Discount: $75,000
Spanning 2,975 square feet high on the 64th floor, this 3 bedroom, 3 bath Chicago condo in the Water Tower Residences has been renovated into an exquisite home. The Water Tower Residences sit atop the Ritz-Carlton hotel, ensuring its residents privacy, discreet service and top security alongside access to the hotel’s renowned five-star amenities like room service, spa, gym and pool.

340ERandolph340 E Randolph St, Unit 4503
Original list price: $2.95 million
Sold price: $2.73 million
Discount: $220,000
Spectacular views are the cornerstone of this downtown building, with unobstructed southern views from every room, including vistas of Millennium Park, Buckingham Fountain and Grant Park. This 45th floor 4 bedroom unit spans 2,750 square feet and includes $200,000 in upgrades from the developer: bamboo flooring, extra built-in cabinets, designer lighting, electric shade, top-of-the-line appliances, and a remodeled master bath. The purchase even included two side-by-side parking spaces. 340 E Randolph is a full-amenity building that includes a spa-quality, 4,000 square foot exercise facility, sauna, steam room, lap pool, sky garden atrium, full-service business center and a 24-hour doorman.

1500 N Lake Shore Dr1500 N Lake Shore Dr, Unit 20B
Original list price: $2.95 million
Sold price: $2.6 million
Discount: $350,000
This iconic Gold Coast co-op has been meticulously renovated. Its 3,150 square feet include a spacious adjoining living and dining room with expansive lake views, high ceilings and beautifully finished hardwood floors throughout. Other features include a cozy lacquered library that overlooks the lake; a master bedroom with huge walk-in closet; new windows, electric, plumbing and zoned air conditioning with humidity control. The building is full-service, with 24-hour door staff, valet parking, guest parking, an on-sit engineer and is pet-friendly.

The Fordham Chicago25 E Superior St, Unit 4401
Original list price: $2.75 million
Sold price: $2.55 million
Discount: $200,000
Ah, the Fordham. This is a one-of-a-kind, half-floor penthouse in a one-of-a-kind building. Located just steps from Michigan Avenue, this 44th floor Chicago condo offers a generous 4,800 square feet of luxurious space. The property is bright and sunny throughout, with oversized windows in each room that bring in spectacular views of the lake and city in all directions. The floor plan is ideal for entertaining, with a large, open chef’s kitchen, a master bedroom with large bathroom and dressing room, plenty of closets, high-end appliances and more. The Fordham is a full amenitiy building with 24-hour door staff, theater, party room, indoor pool, sun deck, fitness center, sauna, massage room, wine cellar, humidor room and a dog run.

Even though December is a busy, busy time—wrapping up the end of the calendar year, holidays, travel—it’s also proven as a great time to take on making a home purchase, as shown by last month’s sales. These opportunistic buyers were able to work the timing in their favor for big discounts off the asking prices of the city’s top Chicago condos for sale.

If you’re considering a purchase this year, I’d recommend getting started before spring is in full swing. With less competition from other buyers, there’s a good chance that we can negotiate a good deal on a home before the real estate market season is in full swing.

For more information on what’s on the market now or to get started on your home search, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Ultra-Luxury Chicago Condos Sell Well in November

When we checked in on Chicago condo sales at the close of September, the final quarter of 2017 was looking a bit unpredictable. The month saw relatively soft sales of high-end properties, but sales seemed to resume in October— and not move into the typical winter/holiday slump that November and December usually bring.

But, November proved to be a strong month as well for luxury Chicago condos. Total sales for the month topped $79 million, and nine of the properties sold were over the $2 million mark.

We also saw two continued trends among the month’s top condo sales. As usual, every condo sold in this category boasted generous square footage—the largest one being a 6,100 square foot gem that sold for cash. And, cash remains king for purchasing luxury real estate in Chicago, as buyers who can do so can usually get a considerable amount of money off the listing price.

With that, here’s a more detailed look at the top five most expensive Chicago condos to sell in November, in descending order:

189ELakeShoreDr189 E Lake Shore Dr, Unit 10
Original list price: $5.2 million
Sold price: $4.3 million
The month’s most expensive sale was also the most expansive—a whopping 6,100 square feet. A rare opportunity on East Lake Shore Drive, this 5 bedroom/4.1 bath condo is a full-floor unit with an amazien layout that includes an open living room, den and office with stunning views of Oak Street Beach and Chicago’s stunning lakefront. A large, private south-facing terrace brings in plenty of sun and breath-taking views come from all bedrooms. Other features include a deluxe, eat-in kitchen with attached breakfast area, separate family room, and 3-car indoor garage parking. This premier, full-service building includes a 24-hour doorman, exercise room and more.

77-e-walton77 E Walton St, Unit 27F
Original list price: $3.4 million
Sold price: $3.2725 million
This 3 bedroom/3.1 bath property is a stunning Gold Coast condo in the Residences at 900. It’s 3,486 square feet have been meticulously remodeled with thoughtful room design and the finest finishes. The unbelievable master suite includes a 13-by-12-foot organized closet, a master bath with heated floors, custom lighting and vanities, handcrafted tub and an oversized shower. The state-of-the-art home automation system controls sound, lighting, climate and windows. Building amenities include a 10th floor roof garden, private, on-site concierge, 24-hour door person, valet parking and bike storage. Residents here have access to the Four Seasons hotel amenities, like room service, spa treatments, exercise facility and more.

1340 N State Pkwy, Unit 1S1340 N State Parkway, Unit 3S
Original list price: $3.25 million
Sold price: $3.25 million
A recent renovation made this half-floor Playboy Chicago condo a turnkey home, with 4,300 square feet and 4 bedrooms/4.1 baths. The unit boasts a large private terrace, plus sun-filled rooms from 23 huge windows in all directions. The building itself has just seven residences in the Gold Coast, on a quiet, tree-lined street that is within walking distance to Lake Michigan, Lincoln Park and the Magnificent Mile. Other rooms include a living room, separate dining room, informal family room, eat-it kitchen, separate home office and an attached two-car garage.

50echestnut50 E Chestnut St, Unit 501
Original list price: $3.295 million
Sold price: $3.175 million
Located in a premiere deluxe building one block off of Michigan Avenue, this one-of-a-kind home spans 3,904 square feet on the building’s 5th floor. Inside, you’ll find a stunning interior with designer finishes throughout; outside is a huge wrap-around terrace with space for a dog run, putting area and alfresco dining, plus additional outdoor space. There’s also a deluxe eat-it kitchen with Wolf, Sub-Zero and other high-end appliances. Plus, this property’s Gold Coast location is ideal for walking to shops, dining, the beach and much more.

180 E Pearson180 E Pearson St, Unit 3805
Original list price: $3.425 million
Sold price: $3 million
This 3 bedroom/4 bath unit in one of Chicago’s top luxury buildings boasts 3,400 square feet on the 28th floor. The unit has been completely renovated, designed and decorated by a world-class designer to include luxury materials and finishes and meticulous attention to detail. Features include wide-plank black walnut flooring, sweeping views of the lake and city and a well thought-out floorplan that includes custom cabinetry, millwork and window treatments. The kitchen and baths have the finest fixtures and finishes, while the master suite hosts a separate sitting room/office/bedroom chamber with his-and-her baths and abundant storage. Residents here can also enjoy the superb service and discounted amenities of the Ritz-Carlton Club and Spa.

While this is just a snippet of last month’s sales, t’s a great idea for prospective buyers to take a look at what Chicago condos have recently sold, and see how sale prices line up with the location, space, features and amenities on their own wish list. Particularly for luxury condos, it’s a good idea to understand some of the most coveted features of upscale homes and what those features mean for a sale price. Doing this research will help you understand what you might find when you’re ready to hit the market as a buyer yourself.

For more information on the Chicago luxury condos that sold last month or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Chicago Luxury Condo Sales Resume with 11 Sales Over $2 Million in October

You might recall that as we headed into the fall months, Chicago condo sales were a bit of a question mark after a soft September. But looking at October sales, that month may have been an anomaly, as October bounced back with not only a healthy number of total sales, but several units in the “ultra-luxury” sector that sold for more than $2 million.
Another trend that returned was that most of the luxury Chicago condos sold—including the top five most expensive ones—boast more than 3,000 square feet of living space. The top five were also newer or brand new properties, showing that buyers are still looking for turn-key properties that offer ample space when it comes to shopping Chicago condos.
All in all, October saw $80 million in total sales for Chicago luxury condos, with 51 sales in total ranging from $1 million up to $3.7 million. Here’s a closer look at the top five most expensive, in descending order:

11-e-walton-jpg11 E Walton St, Unit 3002
Original list price: $3.875 million
Sold price: $3.7 million
This exquisitely renovated Chicago condo in the Waldorf Astoria spans 3,436 square feet high on the 30th floor, allowing for stunning views of Lake Michigan. The 3 bedroom, 3.1 bath home offers plenty of space for entertaining, with a living and dining room that open to an east-facing balcony with gorgeous views and custom-designed fireplace that’s perfect for accommodating large groups. There’s also a new designer chef’s kitchen that includes Wolf, Subzero and Bosch appliances, a 10-foot waterfall island and ample storage. The master suite features sunset views from the private balcony or soaking tub, along with an expanded master closet with custom cabinetry. Residents of the Waldorf Astoria can enjoy the fie-star hotel amenities that are included in their monthly assessments, plus a 24-hour door staff and a valet parking space.

400 W Huron St400 W Huron St, Unit 1201
Original list price: $3.6 million
Sold price: $3.525 million
This newer boutique building was designed to redefine modern luxury, with unparalleled design and finishes. The current owner worked with a top designer to enhance the gorgeous design that features jaw-dropping views from every single room. A stunning, custom Valcucine kitchen was created to be the heart and soul of the home, opening up to a huge family room and 46-foot wide terrace. The master suite has been customized with a sitting room, two walk-in closets, and a spa bath that open up to a second, private east-facing terrace. Building amenities include a fitness facility, temperature-controlled wine storage, secured bicycle storage, a covered, outdoor dog run and 24-hour door staff.

50echestnut50 E Chestnut St, Unit 2501
Original list price: $3.5 million
Sold price: $3.35 million
A three bedroom, 3.1 bath unit spanning nearly 4,000 square feet, this Chicago condo sits on the 25th floor with a split bedroom floorplan. The unit offers private elevator access/foyer into a double door entry, 10-foot ceilings and expansive floor-to-ceiling windows. Details like high-end finishes, motorized window shades, top-of-the-line appliances and Brookhaven cabinets and two private balconies with lake exposures up the luxury factor.

30WOak30 W Oak St, Unit 9B
Original list price: $3.1 million
Sold price: $2.95 million
This 9th floor, 3,349 square foot three bedroom Chicago condo is located in one of the top boutique buildings in the Gold Coast. It’s been meticulously upgraded with panoramic floor-to-ceiling windows, 10-foot ceilings and electronic shades throughout. Outdoors, a 24-by-12-foot terrace includes irrigated custom plantings, lighting and gas line. The Poggenpohl kitchen has new Carrera marble countertops, two Subzero refrigerators, four freezer drawers, two Miele dishwashers, two Miele ovens and a butler’s pantry with wine refrigerator. You’ll also find a bevy of other luxury details: a smarthome system that controls all home technology through a smartphone or tablet; limestone and white oak floors; a Victoria and Albert freestanding tub; Carrera marble floors in the master bath; and his-and-hers closets with built-in safes. The building also boasts a brand-new, state-of-the-art gym.

676 N Kingsbury St676 N Kingsbury St, Unit 504
Original list price: $2.379 million
Sold price: $2.475 million
These are River North’s best new luxury condominiums, bringing together a historic renovation with elegant new construction into 41 unique residences. This four bedroom unit spans 3,103 square feet on the second floor. The boutique building is designed to boast large outdoor spaces, 24-hour door man, exercise room, garage parking options and many units with private elevator access.

It was great to see the a strong month for Chicago condos as we head into the winter season. If you’re considering making a home purchase this is a great time of year to make it happen, as the competition among buyers often dies down, and many sellers are apt to make a deal so that their property does not sit on the market for another three months. Seeing what types of properties sold in the previous months can give you a good idea of what to expect when you’re prepared to hit the market yourself.

For more information on the Chicago luxury condos that sold last month or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Sales of Chicago High-End Luxury Condos Take a Dive in September

If you’ve been following along in recent months of Chicago condo sales, you’ll know that the real estate market had a busy summer among high-end properties. Sales far and above $1 million and $2 million have been common as of late, and I might have expected more of the same as we closed out September.

However, September was a bit unusual for the luxury sector. The most expensive sale topped out at just $1.5 million, which is hardly in the “ultra-luxury” category we’ve seen take over the top sales month after month. Not to mention, September is typically when the fall real estate market comes to life, as people return from summer breaks and want to make a move before the holiday season settles in.

So what does this anomaly mean? It could be a sign that the Chicago luxury real estate market is taking a turn in buyers’ favor. So far in 2017 has really favored sellers, thanks to limited inventory driving high prices. Many prospective buyers have either opted to wait out the market for better buying conditions, or are purchasing homes with cash to ensure they are able to get the home of their choice.

September Sales See Softer Prices, Square Footage

It’s possible that the various things at play throughout 2017 came to a head in September, resulting in sales that were significantly softer than what we saw in preceding months. The most expensive condo to sell in September went for just $1.5 million. Total sales volume for the month was $86.8 million, compared to August’s $95 million.

Another atypical trend last month was the square footage among the top sales. Most luxury buyers who are in the market for a condo still want at least 3,000 square feet, to retain the space of a single-family home but enjoy all of the conveniences of condo living.

And so, it’s safe to say that September was unusual. Let’s take a look at what the sales market brought with a closer look at the top five Chicago condos sold:

2748 N Lakewood Ave2748 N Lakewood Ave, Unit 2
Original list price: $1.435 million
Sold price: $1.4 million
A stunning row home in Lincoln Park, this row home spans 3,500 square feet (the only one out of the top five to cross the 3,000 mark in square footage). The open-concept living space is packed with luxury, style and sophistication, thanks to custom-quality details and finishes and fully outfitted technology like surround sound and recessed lighting. The home offers the privacy and security of a single-family home, with a gated courtyard entry and attached, heated two-car garage. The exterior boasts four spaces to enjoy the outdoors: a professionally landscaped, tranquil courtyard, two decks off the main and penthouse levels, and a custom-designed rooftop that feels like a five-star resort with breathtaking city views. Lincoln Park is a neighborhood coveted for its great location and this home is no exception with a central spot just a short walk to the brown line.

540 W Webster Ave540 W Webster Ave, Unit 911
Original list price: $1.325 million
Sold price: $1.425 million
A welcome (and rare!) new construction addition to Lincoln Park, Webster Square is a boutique style, 12-story building with 89 units ranging from 1 to 4 bedrooms. This 3 bedroom, 3.1 bath condo is 2,130 square feet, with a modern, open-floor plan, high ceilings, fantastic views, private balconies and upscale finishes. This beautifully appointed building is packed with amenities like a 24-hour doorman, fully-equipped fitness center, club and party room, business center, rooftop deck with dynamic lake and city views and a landscaped half-acre private park.

1929 N Sedgwick St1929 N Sedgwick St, Unit A
Original list price: $1.499 million
Sold price: $1.475 million
Part of a stunning 1870s all-brick walk up, this duplex-up penthouse in Lincoln Park is one of a kind, recently redesigned by James Thomas Firm and with no detail left out. The first floor boasts towering, 14-foot ceilings with crown molding, transitional custom lighting and custom silk draperies. A wide-open floorplan includes an oversized family room with built-in cabinets surrounding a wood-burning fireplace. And the kitchen is the crown jewel—all-white custom cabinetry, 11-foot island, detailing lighting and an eat-in kitchen. On the second floor, find a gracious master suite with a private southwest deck, a built-out closet and luxury bath with dual vanities, separate shower and jet tub. Outdoors is a 1,500 square foot private deck with outdoor kitchen, tv, irrigation, lighting, motorized shades, planters and amazing skyline views.

600 N Lake Shore Dr600 N Lake Shore Dr, Unit 3704
Original list price: $1.478 million
Sold price: $1.475 million
Lake Shore Drive is another highly sought-after address for Chicago condos, and this one is in a prime location in the building’s north tower. With 2,159 square feet right on the lakefront, there is plenty of room to relax and entertain in this standout home. A wall of windows running along the living, dining and kitchen areas and balcony make way for breathtaking views of Lake Michigan, Ohio Street Beach and Navy Pier. Details like custom light fixtures, dark hardwood flooring, custom wall paint and exquisite décor make this a covetable home.

950 N Michigan Ave950 N Michigan Ave, Unit 4402
Original list price: $1.5 million
Sold price: $1.5 million
A prestigious magnificent mile location at a premier address, this 2,175 square foot condo is an elegant urban oasis. A key feature of this Chicago condo is the tall picture windows that bring in beautiful vistas of Lake Michigan, Oak Street Beach, Lake Shore Drive and the shoreline from every room. This unit in particular has the highest ceilings in the building, at 10.5 feet, plus an expansive living room, separate dining room and a redesigned, expanded kitchen. The master suite has two private baths the three walk-in closets. Amenities in this impeccable, well-managed building include an indoor pool, sun deck and grills, fitness center, attentive 24-horu door staff and available garage parking.

No matter where you are in the process, if you’re considering purchasing a luxury Chicago condo, I highly recommend getting familiar with the most recent sales. Seeing what types of properties and features sold at what price helps give you an idea of what you might be looking at when you’re ready to find a property that matches your needs and your budget.

For more information on the Chicago condos that sold last month, or to see what’s on the market now, contact me at (312) 498-5080.

July Luxury Condo Sales in Chicago Were Hotter than the Weather

When July sales statistics come in strong, it’s a clear sign that the Chicago luxury condo market is on a tear. Last month, total sales volume for luxury condos was $92 million. Thirteen of the 59 sales for the month fell into the “ultra luxury” category—selling for more than $2 million. Sale prices went all the way up to more than $4 million.

Many of the homes that sold in July were on the market for just a few days. Several of the most expensive homes sold did so in less than five days.

As I have been stressing to all of my luxury clients, there is a magic number for square footage in luxury condos. Buyers typically want no less than 3,000 square feet, and that was apparent in last month’s sales as well. Several sales even topped the 4,000 mark.

Whether trading up, coming to the city from the suburbs or relocating to Chicago all together, buyers want large square footage and are willing to spend well into the millions to get a condo that offers it. Even though the assessments for these types of buildings are quite a bit higher, the cost hasn’t deterred clients form purchasing in them.

Here’s a closer look at the top luxury condos that sold last month, with the top five sales in descending order.

432-W-Grant-Pl432 W Grant Pl, Unit 2E
Original list price: $4.095 million
Sold price: $4.095 million
This property was sold before print, so details are scarce. But it’s safe to say that with 4 bedrooms and 4.1 baths in Lincoln Park, this was a highly sought-after home.

400-w-huron400 W Huron St, Unit 1501
Original list price: $4 million
Sold price: $4 million
This new construction building has been declared Chicago’s next iconic building, and it’s easy to see why. From the developer of 30 West Oak, the building boasts contemporary design inside and out, with 10-foot ceilings, high-end cabinetry and appliances, stone floors, luxe baths and expansive terraces. There are only 25 homes in the building, and residents enjoy separate, enclosed 2- and 3-car garages, plus amenities like a 24-hour doorman, fitness, wine storage and dog run. This unit in particular boasts 3 bedrooms and 4.1 baths on the 15th floor, spanning a generous 4,650 square feet.

77-e-walton77 E Walton Pl, Unit 27A
Original list price: $3.7 million
Sold price: $3.55 million
The Residences at 900 are a mainstay of high-end real estate in Chicago, thanks to its true sense of luxury, upscale service and Magnificent Mile convenience. This Chicago condo is a 3 bedroom, 3.1 bath across 4,320 square feet on the building’s 27th floor and just underwent an expansive renovation. Features include floor-to-ceiling windows, extraordinary lake and Magnificent Mile views, a chef’s kitchen, custom stone baths, Lutron home automation, customized closets and more. The building boasts a sundeck and fitness options as well.

1448-N-Lake-Shore-Dr1448 N Lake Shore Dr, Unit 19 A B
Original list price: $3 million
Sold price: $2.85 million
This totally renovated penthouse co-op has what every Chicago luxury buyer wants: views. Sixty feet of them, to be exact, looking out onto the lake, beach and Navy Pier. With 4,800 square feet on the 18th floor, this home boasts a private elevator that opens into an elegant spacious gallery; a corner library with views; a dining room with bay windows that overlook the lake; a combined chef’s kitchen; plus, hardwood floors, high ceilings, tons of storage, central zoned a/c and in-unit laundry.

1040 n lake shore1040 N Lake Shore Dr, Unit 6D
Original list price: $2.75 million
Sold price: $2.6 million
The Carlyle is a building known for its hospitality, and this 3,020 square foot unit is located on the rarely available “D” tier. Having just underwent a full-gut rehab led by award-winning designer Rebekah Zaveloff, this condo features a grand living room, separate dining room, a magnificently redesigned kitchen, and a grand master bedroom with lake views, his-and-her closets, Calcatta marble  bath, separate soaking tub and huge walk-in shower. The building itself is packed with amenities, including 24-hour staff, gym, banquet room, indoor pool, sundeck and parking.

With sales so strong in the dead center of summer, it will be interesting to see what August brings in Chicago real estate. It’s safe to say that ample square footage, new construction or renovated homes and prestigious buildings are factors that don’t succumb to any season or trend—it’s simply what the luxury buyer must have when shopping for a new home.

For more information on last month’s luxury condo sales or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Strong Luxury Chicago Condo Sales in June, with 13 Units Selling for Over $2 Million

We’re well into a strong summer for Chicago luxury real estate sales, and the high-end condos that sold in June show it. The month saw $107 million in total sales volume for high-end ($1 million plus) condo sales, and 12 of those properties closed at a price of $2 million or more.

The most expensive Chicago condo sale in June was at the Waldorf Astoria. The property offers a whopping 4,000 square feet of interior space, and for the luxury buyer, it is all about the square footage. I’ve stressed this month after month as we report on the top properties sold in the Chicago luxury market—that buyers today want a minimum of 3,000 square feet in their new home.
New luxury developments have clearly taken note of this as well, as many new construction condo buildings offer “large living” in an urban space. New construction is again becoming hot with the Chicago buyer, as new properties (like 400 W Huron—more on that below) offer residents the sprawling space they’d find in a home in the suburbs, but with the location, amenities and convenience of city life.

But space and newness aren’t the only things the luxury buyer is willing to pay a premium for. Many are also after a great view, whether it’s of the cityscape, Lake Michigan, the skyline or better yet—all of the above.

Here’s a look at the top five most expensive properties that sold during that time:

Waldorf Astoria Chicago11 E Walton St, Unit 3802
Original list price: $4.725 million
Sold price: $4.375 million
The 38th floor of the infamous Waldorf Astoria, this Chicago condo offers forever views and is an entertainer’s paradise. The 4,000 square feet offers huge interior rooms, including a separate living and dining room and a large den (plus two terraces!). The indulgent master suite boasts three walk-in closets, an expansive sleeping room with fireplace, private terrace and a master bath with all-natural stone, huge walk-in shower, luxury Jacuzzi tub, heated floors and two oversized vanities. Other details include 10-foot ceilings, marvelous custom finishes throughout and complete control for an audio/visual system. Residents of the Waldorf Astoria also live among the epitome of luxury amenities from the building’s hotel, including a state-of-the-art spa, exercise room, pool, in-room dining and a Michael Mina restaurant.

400-w-huron400 W Huron St, Unit 1502
Original list price: $3.95 million
Sold price: $3.95 million
The new construction building at 400 W Huron comes from the same developer as the beloved 30 West Oak. This 4,175 square feet unit is on the 15th floor and showcases groundbreaking contemporary design inside and out. Luxe features inside include 10-foot ceilings, Miele appliances, stone floors, expansive terraces and separate, enclosed 2- and 3-car garages. Amenities include a 24-hour doorman, fitness center, wine storage and dog run.

401NWabash401 N Wabash Ave, Unit 85A
Original list price: $4.3 million
Sold price: $3.12 million
The 85th floor of 401 N Wabash predictably offers spectacular views, and this unit is no exception. Just over 3,000 square feet, this condo features the building’s signature curved glass and panoramic floor-to-ceiling windows. That means unobstructed views in every direction. Other luxury features of this Chicago condo include 11-foot ceilings in every room, three fireplaces, hardwood floors, a state-of-the-art kitchen with Miele, Sub-Zero and Wolf appliances, and a master bedroom with his-and-her closets and a spa-like bath.

Water Tower Residences180 E Pearson St, Unit 6205
Original list price: $3.29 million
Sold price: $3.1 million
Properties in the Water Tower Residences are rarely available, let alone an exquisite renovation like this one. Spanning 2,975 square feet on the 62nd floor, this Chicago condo has stunning views of the lake, Navy Pier and the city skyline. The designer chef’s kitchen features custom white cabinetry, the latest Wolf, Bosch and Sub-Zero appliances and a butler’s pantry and wet bar. You’ll also find state-of-the-art mechanicals that make this property truly upscale: Lutron lighting system, motorized shades, integrated lighting and an AV system. Residents here also enjoy amenities and 5-star services from the neighboring Ritz-Carlton Hotel.

400-w-huron400 W Huron St Unit 1201
Original list price: $3.1 million
Sold price: $3.1 million
Another property in newly developed 400 W Huron, this one a 3 bedroom, 3.1 bath with 4,091 square feet on the building’s 12th floor.

This monthly sales round-up paints a good picture for the prospective buyer as to what you can expect to find when you’re ready to get your own real estate search underway. Square footage, breathtaking views and newness all highly sought after, and therefore can come at a premium, especially when the market is hot. As an agent, I always work with my clients to ensure they understand the landscape of the current market, but also where they might be able to negotiate. The high-end real estate market is a nuanced one, but I am happy to talk more with you on what you can expect if you’re looking to make a purchase.

For more information on the Chicago condos that sold last month, or to see what’s on the market now, contact me at (312) 598-5080 or email me at ssalnick@dreamtown.com.

May Luxury Chicago Condo Sales Were All About Chicago’s Gold Coast

Chicago’s Gold Coast neighborhood is no stranger to luxury real estate, or the wish lists of high-end buyers. Nestled just blocks from the Magnificent Mile, residents of the Gold Coast are just blocks from everything they need:

Shopping: The boutiques along Oak Street are of world-class caliber: Harry Winston, Hermes, Jimmy Choo and many other shops line the block.

Dining: Great food can be on the menu every night when you live in the Gold Coast, with restaurants like Gibson’s, Nico Osteria, Tavern on Rush, Café des Architectes and others.

Beaches: The Gold Coast is within walking distance of the lakefront, including Oak Front Beach. This is a neighborhood hot spot, with swimming, volleyball tournaments, walking trails and more.

The Loop: Just south of Magnificent Mile, the Gold Coast puts downtown commuters just a quick zip from the office. The Loop is easily accessible by bus, El train or even walking.

So it’s no surprise that the Gold Coast was front and center of May’s Chicago condo sales. Not only is this one of the most sought-after neighborhoods in the city, but it is one area where you can find a high-rise condo with at least 3,000 square feet of living space. In May, the top sales ranged in size from 3,172 square feet all the way up to 4,931 square feet. Suburban clients love that many of these buildings don’t sacrifice space for a move into the city—they can find the same square footage that they had in the ‘burbs but with all of the urban conveniences of condominium living.

It is also apparent that, when a new construction building comes on the market, upscale buyers will flock to it. Brand-new Chicago condos are selling very well, and many buyers are willing to pay a premium price to live in them, as is evident in the top May sales.

With that, let’s take a closer look at the most expensive Chicago condos to sell in May:

4EastElm4 E Elm St, Unit 8S
Original list price:
$3 million
Sold price: $2.88 million
This is one of the newest buildings in the Gold Coast, one that’s been warmly embraced by luxury buyers—at listing time, the building was more than 90% sold. Four East Elm boasts sleek and modern half-floor residences, this one more than 3,400 square feet. Units boast elevator entries, luxury finishes, exposures with city and lake views and much more. The amenities make this building the ultimate oasis of luxury and privacy, with an outdoor pool, whirlpool, sun deck, fitness center, screening room, clubhouse lounger and 24-hour doorman. Not to mention, the location in the heart of the Gold Coast is a buyer’s dream, near restaurants, world-class shopping, the beach and plenty more.

800NMichigan800 N Michigan Ave, Unit 4602
Original list price:
$3.175 million
Sold price: $2.925 million
A rarely-available residence in Park Tower, this 3,172 square foot Chicago condo boasts and open floor plan for today’s lifestyle. The sensational open chef’s kitchen has a glass breakfast area that faces the lake and city, opening up to an open living room, dining room and family rooms. From there, you’ll find breathtaking, dramatic Lake Michigan and skyline views. Details throughout include high ceilings, wood floors, motorized blinds and private elevator access. Living at Park Tower is exceptional, upscale living at its finest—residents here enjoy the amenities and services of the neighboring Park Hyatt Hotel, which includes an indoor pool, fitness center, NoMI Restaurant and more.

1209-n-astor-st1209 N Astor St, Unit PH
Original list price:
$3.499 million
Sold price: $3.1 million
A spacious, full-floor penthouse on Astor Street, this co-op unit has been renovated down to every meticulous detail. Spanning the entire width of the building with 4,100 square feet, the property includes a living room, dining room and library, along with a state-of-the-art kitchen with high-end appliances, eat-in area and sitting area. Large windows offer 360-degree views. The exceptionally run building includes a lovely garden and much more.

400-w-huron 400 W Huron St, Unit 501
Original list price:
$3.75 million
Sold price: $3.75 million
From the developer of 30 West Oak, this is slated to be Chicago’s next iconic building. With groundbreaking contemporary design inside and out, the building has just 25 units, ranging from 2,100 to 4,931 square feet. This unit features a one-of-a-kind, custom full-floor floorplan with 4,931 square feet. This home nearly matches the interior square footage with outdoor entertaining space, including a private pool and spa. Other details include 10-foot ceilings, Valcucine cabinets, Miele appliances, stone floors, luxe baths, expansive terraces and separate enclosed garages.

800NMichigan800 N Michigan Ave, Unit 2801
Original list price:
$4.495 million
Sold price: $4.26 million
This unit in the iconic Park Tower is a half-floor residence that brings together masterful design and modern luxury. Spanning 4,220 square feet, this unique and customized home includes a gourmet kitchen, large outdoor terrace, the utmost privacy offering and panoramic views that include Lake Michigan and a clear line down the Magnificent Mile. Residents of this building have the 5-star amenities of the Hyatt Hotel right at their fingertips: such as rooms service and catering direct to the door, concierge service, and indoor pool and health club and a deluxe sun deck.

For more information on the Chicago condos that sold last month, or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.