Luxury Condos in Chicago Continue to Sell Well in April

It’s all in the name—last month’s top sales for April condos in Chicago reads like a who’s who in high end real estate. Lake Shore Drive, Trump Tower, Michigan Avenue, Gold Coast—all indicators of the best of the best in Chicago luxury.

Each of the top 5 condos sold was either on a prestigious block or in a prestigious building, with 42 units sold totaling $69 million. And there was another reoccurring theme among the top homes sold—square footage. Even though these are condo units, not one of these units skimped on space, going all the way up to 6,000 square feet.

Here is a closer look at the top 5 Chicago condos that sold in April, in descending order from the most expensive:

1021 N Dearborn St
Original list price: $5.5 million
Sold price: $5.5 million
Last month’s top sale was an exquisite, one-of-a-kind end unit located in the Gold Coast at Oak and Dearborn—it sold even before the listing sheet officially made it to the printer. The elegance of this unit is apparent as soon as you step inside, with a dramatic stone-tiled 2-story foyer to welcome you. Beyond that, you’ll find 5,800+ square feet over 4 levels, with a huge living and dining room, a 441-foot wraparound balcony, cook’s kitchen with luxury stainless steel appliances and granite counters, a full-floor master suite with sitting room, walk in closet and stunning master bath, plus a media room that opens to a grand terrace.

Trump Tower Chicago real estate401 N Wabash Ave, Unit 46A
Original list price: $4.29 million
Sold price: $4.025 million
It’s certainly not uncommon for River North’s Trump Tower to have a place on the top condo sales each month. This 3 bedroom unit is just under 4,000 square feet and puts the building’s iconic views front and center, offering a stunning eastern view from the master bedroom. The unit is located on one of the best tiers in the building, with only 9 other units offering the same features. Plus, residents of Trump Tower enjoy some of the most high-end services and amenities in any Chicago condo building, from a private chef to world-class spa and much more.

Chicago real estate at Park Tower 800 Michigan Avenue800 N Michigan Ave, Unit 2801
Original list price: $4.2 million
Sold price: $3.5 million
This condo is located in the iconic Park Tower, one of the most architecturally famous buildings on the Magnificent Mile. Its location on the 28th floor allows for breathtaking views of the lake, city and daily sunsets from every window. With 4,200+ square feet, this Chicago condo takes up a half floor with a custom design that maximizes space for entertaining and casual living, including features like a dramatic entry, formal living and dining room, cook’s kitchen, huge family room, large master suite, rich finishes, hardwood walnut floors and custom millwork.

1347_ndearborn1347 N State Pkwy, Unit 1
Original list price: $3.999 million
Sold price: $3.3 million
Called a “magazine caliber” residence, this Gold Coast triplex lives more like a single-family home than a condo (with a whopping 6,000 square feet of living space!). The 6-bedroom unit is located in the Gold Coast and includes a lavish master suite with exercise room, incredible bath, media room, terrace, billiards room, dream kitchen and 800+ bottle wine cellar. The location is especially ideal, with the Gold Coast being a favorite among luxury buyers, and this property being within walking distance of Lake Michigan, Old Town, Rush Street and the Magnificent Mile.

179-e-lake-shore-drive-co-op-apartments-360179 E Lake Shore Dr, Unit 21E
Original list price: $2.45 million
Sold price: $1,999,999
Lake Shore Drive is among the best blocks in the city, and this gorgeous half-floor, 3,045 square foot co-op helps showcase why. Located in a landmarked building designed by famed Chicago architect Benjamin Marshall, this unit includes superb views, beautifully updated architecture, new baths and kitchen, a luxurious master suite, a handsome paneled library and gracious upgrades throughout. The building also adjoins the prestigious Drake Hotel. The buyer for this co-op paid cash, but it is important to note that the co-op stated upfront that a buyer would only be able to finance 50% of the cost. The building was also on the market for just over 500 days, which isn’t surprising considering the approval process required for co-op buyers is often a long one.

Whether it’s in a condo, a co-op or a single-family home, it has been apparent for months that ample space is at the top of luxury buyers’ wish lists when shopping for a home. This month was no exception. If you’re looking to buy in the next several months, I encourage you to keep an eye on the monthly sales and see what types of homes are selling for what price. Then you can keep that in mind when establishing your own wants/needs list for your real estate purchase.

To learn more about last month’s Chicago real estate sales or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

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