Chicago Luxury Condo Sales Totaled $35.965 Million in April

The Elysian Residences

The Elysian Residences at 11 E Walton accounted for the top 3 most expensive luxury condo sales in Chicago during April 2012.

The numbers are in for April’s luxury Chicago condo sales, and the report is in line with some of what I’ve personally been seeing on the market. Namely, four out of five of the most expensive properties were new construction, and I have certainly seen newer properties moving quickly on the market. Not to mention, the top three most expensive luxury condos were in the same building: 11 East Walton.

Another trend among the luxury condo sales in April are the final sale prices–most were about $100,000 to $150,000 off the list prices. Buyers are in a great position to close deals right now, as sellers are still eager to move their properties.

Top 5 Chicago Condos Sold

Total luxury condo sales–those sold for $1 million or more–for April totaled nearly $36 million, with the downtown area once again taking center stage among the properties sold. Let’s take a closer look at the features of the top five sales.

The top three Chicago condos sold were at The Elysian at 11 E Walton–though the hotel portion of the building is now known as the Waldorf Astoria. It’s no question what buyers see in this building, which was designed by Lucien Lagrange and quickly became one of the most prestigious places to live in Chicago. With 51 condos, residents here can enjoy 24-hour room service, a 14,000 square foot deluxe spa and all of the concierge services a luxury lifestyle could imagine, including all of the services provided by the adjoining hotel. Here’s a look at the units sold:

Unit PH56
Original list price: $6,350,000
Sold price: $5,950,000
This “vanilla box” full-floor Chicago condo is raw and ready for the owner’s customization, but in itself features 4 bedrooms, 6,000 square feet, 360-degree views, and soaring 20-foot windows in the living room.

Unit PH57
Original list price: $3,950,000
Sold price: $3,850,000
A full-floor penthouse with amazing 360-degree views of the city and lake and four outdoor spaces, this 4,500 square foot condo is another raw space ready for the buyer’s custom design.

Unit 3802
Original list price: $3,690,000
Sold price: $3,600,000
This three-bedroom, 4,000 square foot home boasts 180-degree lake and city views, two terraces, two fireplaces and 10-foot ceilings. Luxury custom improvements include fine finishes and cabinetry and a dramatic entry gallery.

The 4th and 5th most expensive sales were also found in or near downtown Chicago:

10 E Delaware Pl, Unit PHC2
Original list price: $2,449,900
Sold price: $2,305,000
A penthouse unit in the heart of the Gold Coast. With city and sky vistas, 24-hour doorman, rooftop heated pool, the elegant TEN Club, state-of-the-art fitness center, fine finishes and amenities make 10 E Delaware another coveted building among buyers looking for downtown condos.

415 E North Water St, Unit 604
Original list price: $2,299,900
Sold price: $2,200,000
More than 3,800 square feet of indoor living space and 3,000 square feet of outdoor space, this home lives more like a single-family home than a urban condominium. This three-bedroom unit is nestled along the lake and river, with beautiful views (a must among Chicago’s luxury condo buyers).

There are a number of great properties on the market now for luxury buyers to take a look at. To see what’s available or to take a closer look at last month’s sales, contact me at 312-264-5853 or email me at ssalnick@dreamtown.com

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