Summer so far has been good to the Chicago condo market, and June was another great example of that. In June, 48 luxury condos (those over $1 million) sold for a sales volume of $48 million. And what set the upper end of those sales in motion was without a doubt the amazing amount of square footage found in each of these homes.
The space ranges from just shy of 4,000 square feet all the way up to 5,700 square feet for the most expensive property. That unit was a co-op, and according to the listing sheet, the assessments of $6,016 doesn’t even include taxes for the apartment. So a high-end Chicago condo like this certainly comes with a luxury price tag.
Become Familiar with Chicago Real Estate Sales
If you’re considering purchasing a luxury Chicago condo or home soon, I encourage you to get familiar with recent sales in a particular area you’re looking for. Especially if you’re looking for a specific amount of space, it’s important to understand what the cost of a square foot might be in a certain neighborhood, in a particular building or in a type of property similar to what you’ll be looking for.
Here are the top 5 most expensive Chicago condos to sell in June, starting with the most expensive sale of the month:
209 E Lake Shore Dr, Unit 11-E
Original list price: $7.9 million
Sold price: $7.4 million
Billed as “one of the most beautiful and elegant apartments in all of Chicago,” this 3 bedroom, 3.2 bath has had all 5,700 of its square feet renovated to take the 1920 unit into 2015. Along with a prestigious Lake Shore Drive address, this co-op unit boasts fabulous lake views and a custom floor plan. It’s important to note that this property—the most expensive to sell last month!—was purchased with all cash.
2550 N Lakeview Ave, Unit C8-13
Original list price: $3.999 million
Sold price: $3.999 million
Lincoln Park 2550 is celebrating five years of being one of Chicago’s most sought-after luxury properties. In fact, this is still my favorite building in Chicago and I recommend all of my clients searching for a Chicago condo check this building out, as it really sets a benchmark for luxury. The building is noted for its exquisite lobby, private park, top-of-the-line amenities (including an indoor pool and fitness center) and much more. This 3-bedroom, 3 ½ bath unit total 3,965 square feet of interior space, plus a 758 square foot terrace that showcases southeast lake, park and city views. A fully appointed cook’s kitchen includes a large granite breakfast bar, Italian cabinetry and Subzero, Wolf and Miele appliances. The gracious living room and dining space features oak floors and floor-to-ceiling windows while a large master suite includes a walk-in closet and marble spa bath.
2550 N Lakeview Ave, Unit C8-12
Original list price: $4.854 million
Sold price: $3.795 million
This unit is identical to C8-13 above, so at least two lucky buyers last month were able to become residents of this exquisite building. Also with 3 bedrooms, 3.5 baths and 3,965 square feet and the full suite of services and amenities, it’s easy to see why this unit and building are among the most sought-after in Chicago.
1100 N Lake Shore Dr, Unit 40B
Original list price: $4.299 million
Sold price: $3.2 million
Spanning a whopping 8,000 square feet, this triplex is a one-of-a-kind, “true” penthouse on one of Chicago’s most prestigious streets. The unit is perched high atop the 40th floor, allowing for magnificent lake and city views from the full private floor and its rooftop deck. Four bedrooms and 5 ½ baths make this unit ideal for family use and entertaining, along with 4 wet bars, a huge living/dining room off of the kitchen and media room. Additional details throughout include polished porcelain floors, Rosewood walls, custom tile and millwork, a top-floor solarium with eating and seating area.
130 N Garland Ct, Unit 5603
Original list price: $3.299 million
Sold price: $3.06 million
A custom-designed, custom-decorated penthouse unit, this Chicago condo boasts wraparound views to the east, south and west. Three bedrooms and three full baths fill out a generous 4,400 square feet with a large open kitchen and family room. Other features include marble and hardwood floors, electric blinds, high-end finishes and much more.
If you’ve considered a Chicago condo purchase, but are concerned abut sacrificing space, last month’s sales illustrate that there’s no need to have one without the other. Luxury condos in the city comes with all of the square footage you need, with the added bonus of services and amenities for easy, modern living.
For more information on last month’s real estate sales in Chicago or to see what’s on the market now, contact me at (312) 498-5080 or email me at email@example.com.