Opportunities in Chicago New Construction: Trump Tower

Trump Tower real estate

With so much talk about the latest Chicago new construction projects and luxury residences in the works, I wanted to highlight another prestigious building that continues to make headlines two years after it welcomed its first residents: Trump Tower.

Finished in 2008 and located downtown just north of the Chicago River, the Trump Tower has aimed to exemplify luxury living in Chicago, and it hasn’t come up short. Earlier this month, executives announced they would be giving special attention to five unsold Trump Tower condos, furnishing them as models to illustrate the one-of-a-kind lifestyle that is experienced at 401 N. Wabash Avenue.

The building’s push to move its unsold units means a huge opportunity is available to those in the market for a Chicago new construction condo. Trump Tower is home to 486 private residences (in addition to hotel rooms and hotel condominiums), designed to provide residents with everything they would need without having to leave the building. The staff at a building like Trump Tower is trained to handle the most unique and demanding needs of its residents, all while maintaining the utmost privacy for those who live there.

Other amenities include:

  • 24-hour room service
  • Trump Spa and Health Club
  • In-home dining and catering services
  • Access to meeting and banquet rooms
  • Full-service concierge
  • 24-hour white glove doorman

Negotiating a Chicago New Construction Purchase
The Trump Tower will be coveted for decades to come, for the name alone and the lifestyle that comes with it. Those who bought Chicago condos in Trump Tower when it was being developed didn’t have the same opportunities that buyers have now—and buyers in 2010 (going on 2011) are still able to get into one of the finest new construction condos that Chicago has to offer.

Awhile ago, I compiled a checklist for buying Chicago new construction with 18 steps for buyers in the market for a new development. A few helpful highlights:

Work with the right Realtor: I can’t stress enough how important it is for buyers to be represented by their own Realtor, especially in a Chicago new construction purchase. Even though Trump Tower is upping the ante to bring in buyers, it’s still crucial to have an agent who represents you and you only—to ensure you’re getting the most for your budget, that you understand the nuances of different floorplans and find a residence that will serve your needs first.

Floor price differential: Chicago condos in a building that appear to be identical in every way will change price based simply on the floor they’re located on. It’s important to have someone who can explain these differences and give you insight as to how floor location could affect a future resale value.

Checking the details: When looking at model units, be sure to note the details that truly add up in aesthetics and future resale value: How tall are the ceilings? What appliances are or will be installed? How is the quality of cabinetry, windows, doors and finishes? I can help you understand what elements and upgrades are available in already-built units.

Trump Tower will be a sought-after building for Chicago condos for generations to come, and now is a great time to take advantage of the buyer’s market in downtown Chicago. To learn about available units in Trump Tower and what it has to offer, give me a call at (312) 498-5080 or by email at ssalnick@dreamtown.com.

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