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.

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 Homes Sales Held Up in October with 8 Homes Sold for More Than $2 Million

Chicago luxury home sales seemed to perk up in October, especially when compared to the soft September that preceded it. October saw $58 million in total sales of luxury single-family homes, ranging from $1 million up to $7.5 million. Eight of the 33 luxury homes sold were over a $2 million price point.

Here’s a closer look at the top five single-family homes that sold in October:

52 E Bellevue Place52 E Bellevue Place
Original list price: $7.999 million
Sold price: $7.5 million
It’s easy to see why this was the most expensive single-family home to sell last month. An oversized lot of 26 feet by 129 feet enables 10,000 square feet of interior space in this amazing, one-of-a-kind, custom-built home in the Gold Coast. The façade of this 1885 home was carefully restored with a full renovation of the interior. The home boasts all ensuite bedrooms, a true master suite with spa-like baths, smarthome automation system, elevator, custom wine cellar, sauna, gym room, three laundry rooms, separate heating system for all levels, radiant heat throughout provided by solar panels, a media room with 120-inch screen and projector. There is also a 3-car heated garage, which is virtually unheard of in Chicago, let alone in the Gold Coast. Outdoors, you’ll find five decks, a firepit and two grilling stations for making the most of Chicago summers.

321 W Menomonee St321 W Menomonee St
Original list price: $3.45 million
Sold price: $2.8 million
The extra-wide lot allows for more than 6,600 square feet of living space inside this exquisite two-story residence in East Lincoln Park. With five bedrooms, 5.2 baths, the home opens up into a grand atrium with curved staircase, a gracious living space and a thoughtfully designed floor plan. Other grand spaces include a formal living and dining room with direct patio access, a wood-paneled library, an eat-in kitchen, a gracious master suite and a family room. The kitchen includes a breakfast bar and table space with top-of-the-line appliances, copious storage and a large island. The second-floor master suite overlooks the backyard from a private balcony and features a wood-burning fireplace, two walk-in closets, luxe master bath with onyx counters, oversized dual shower, separate whirlpool tub and dual vanity. Skylights and large windows in every room flood the home with natural light.

1801 N Hermitage Ave1801 N Hermitage Ave
Original list price: $2.735 million
Sold price: $2.375 million
Located in Bucktown on an extra-wide corner lot, this home is absolutely flooded with sunlight, thanks to its 65 windows throughout. With four bedrooms, three baths and laundry all on the second floor, the home has an ideal floorplan for a family. Luxe details include oak flooring, a completely redesigned kitchen, a master suite, extensive built-ins and millwork throughout, and a large penthouse office with full bath, bar and two private decks.

1932 N Mohawk St1932 N Mohawk St
Original list price: $2.8 million
Sold price: $2.42 million
On one of the best streets in the heart on Lincoln Park, this grand, unique residence showcases its excellent craftsmanship the moment you see its stately limestone exterior. Those luxe features continue as you move inside, with an exquisite staircase, architecturally dramatic ceilings, a formal entry, high-end light fixtures, a master suite suited for a king and queen and three fireplaces. This home is built for entertaining, with a custom wine cellar, authentic bar, numerous outdoor spaces and a state-of-the-art smarthome system.

830 W Buena Ave830 W Buena Ave
Original list price: $2.395 million
Sold price: $2,293,333
This home is truly something to be seen—a one-of-a-kind modern estate that sits on three lots and was featured in Dwell Magazine. This home exemplifies the best of inspired modern design in the city, having been gut-renovated to the highest standards. The design features an incomparable width and breadth of indoor/outdoor living spaces rarely found in Chicago, centered around a sensational two-story glass-roofed atrium with sculpted concrete that creates a zen-like oasis in the hart of the home. Enormous rooms flow from one to another, from the huge living and formal dining rooms, to the chef’s Italian kitchen, to the private office. An LED-lit stairwell leads up to three ensuite bedrooms including a serene master wing with dreamy bath, backlit walls, freestanding Lupi soaking tub and steam shower. Outdoors, there is an expansive yard at grade level.

I highly recommend my clients in the market for a single-family Chicago luxury home review the latest sales to familiarize themselves with the market. Knowing the various features and upgrades found in these luxury homes can give you an idea of the price tag that comes with them—and can help you distinguish between your own must-haves and nice-to-haves when you think about what you hope to find in your own home.

For additional details and photos of the homes that sold in October, or to see Chicago luxury homes for sale now, contact me at (312) 498-5080 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.

11 Upper Bracket Chicago Condos Sell in April

When I refer to the “upper bracket” of Chicago luxury condos, I am referring to properties that sold upwards of $2 million up to $4.2 million, as was the case last month with 11 upper bracket condos sold in this range. April’s sales certainly indicate that sales in the $1 million-plus market should be strong in the next few months. In total, the month saw 60 sales close for a sales volume of $93 million in April.

Looking at what sold last month, four out of the top five Chicago condos sold were brand new construction. They were also in excess of 3,000 square feet. I am anticipating in the upcoming months that new construction with generous square footage will make a frequent appearance on our most-expensive-sales list.

In the meantime, here’s a look at the top five upper-bracket Chicago condo sales from April, starting with the most expensive:

25502550 N Lakeview Ave, Unit 1101S
Original list price: $4.6 million
Sold price: $4.2 million
This 3 bedroom, 3.1 bath unit sits on a corner and has been exquisitely appointed and highly upgraded. You’ll find stunning views of the lake, park and city skyline through dramatic 11-foot ceilings in nearly every room. State-of-the-art technology brings sound, light, HVAC and window treatments at the touch of a button. There are terraces for sunrise and sunset, including a 45-foot loggia off of the family room. Living in Lincoln Park 2550 is like staying at a fine resort, with dedicated concierge and a number of enviable amenities (more on that below).

4EastElm4 East Elm St, Unit 21S
Original list price: $4 million
Sold price: $4 million
The luxury condos at 4 East Elm have proved popular since the building debuted in the Gold Coast last year. The building is now 90% sold of its 35 sleek, modern half-floor residences, each with elevator entry into the unit. The Chicago condos in 4 East Elm include high-end finishes and at least 3 exposures with expansive views of the city and lake. Plus, residents here enjoy building amenities like an outdoor pool, whirlpool, sun deck, fitness center, screening room and clubhouse lounge.

1615-Burling1615 N Burling St, Unit 401
Original list price: 3,123,000
Sold price: $3,123,000
This Lincoln Park boutique condo building is brand new, with just 15 intimate units in the heart of the beloved neighborhood. With two combined units, this duplex penthouse occupies the top two floors of the building, with a 113-foot extra-wide floorplan. The penthouse includes 6 bedrooms, 4.2 baths, floor-to-ceiling windows and city views. Thoughtful details and finishes include Archisesto cabinetry, Sub-Zero and Wolf appliances and Jason Woo fixtures. The outdoor space is also incredible, with two balconies and a 39 x 32-foot private terrace.

4EastElm4 E Elm St, Unit 15N
Original list price: $2.99 million
Sold price: $3 million
4 East Elm strikes again! This brand-new construction unit spans 3,135 square feet, with only two units per floor and a private elevator. The superb open floor plan includes 3 bedrooms and 3.1 baths, with exquisite finishes throughout. Other details include 10-foot ceilings, Wolf and Sub-Zero appliances, Florense cabinets, in-ceiling invisible speakers, electric shade wiring, LED lighting and a luxurious master suite. The building’s amenities include a 24-hour door staff, outdoor pool, whirlpool, sun deck, fitness center, screening room and clubhouse lounge.

1615-Burling1615 N Burling St, Unit 104
Original list price: $2,248,000
Sold price: $2,248,000
Also located in the new boutique building in Lincoln Park, this unit is an extra-wide combination unit, with 3 bedrooms and 3.5 baths. Features include floor-to-ceiling windows, Archisesto cabinetry, Sub-Zero and Wolf appliances, Jason Woo fixutres and a thoughtfully conceived open floor plan with superior finishes throughout. The building offers unimaginable outdoor spaces—this unit boasts an 81 x 50-foot terrace. The buyer of this Chicago condo paid cash.

Luxury Living in Lincoln Park 2550
2550NLakeviewIt’s been awhile since we’ve seen Lincoln Park 2550 on our top five list, but this building has been a mainstay of luxury living in Chicago nonetheless. Even as new construction condos return to the Chicago condo, this building continues to stand apart from other luxury properties, thanks to its extensive list of amenities that makes day-to-day living feel like a resort vacation. In addition to concierge service, Lincoln Park 2550 offers its residents spa-like fitness facilities, private cinema, dry cleaners, yoga studio, party room, game room, library, dog run and a beautifully landscaped 1.25-acre private park. The location also can’t be beat, as this building is within an easy talk to restaurants, bars, grocery stores and public transportation.

I currently have a listing at 2550 N Lakeview, with 2600+ square feet, two north-facing balconies, two heated garage spaces and access to all of the amenities and services of this outstanding building.

For more information on this unit, or to see other properties that sold in Chiago luxury real estate last month, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Five Chicago Luxury Homes Sold for More Than $2 Million in March

March was a very interesting month for Chicago luxury real estate, particularly with single-family home sales. The top five sales all fell into the “ultra-luxury” category, selling for more than $2 million each.

Time will tell if the surge of ultra-luxury sales is an isolated situation, or if it could be the beginning of a trend where mega-luxury homes ($3 million and up) experience an uptick like they did last year. Check in next month to see if these high-priced homes continued to close in April. Regardless of price trends, it is clear that luxury buyers are looking for space—square footage, in-law suites and ample yard space.

This is often found in homes built on large lots. Buyers are going beyond the heart of key neighborhoods to find these sized homes. Lincoln Park is one of the most sought-after neighborhoods, but as large lots become more and more scarce and the cost of land increases, buyers are looking elsewhere, such as Lakeview and Bucktown.

It’s also worth noting that many of these homes sold for significantly below the asking price. This is the result of strong negotiation strategies on behalf of the buyer, which is something I always work to achieve for my clients. When negotiating a purchase offer, I strongly consider cost per square foot, time of the marketing and any history of the home as it pertains to real estate. It’s important to see what has happened with a home in the last year, to ensure it didn’t experience a reduction in price or get re-marketed as a new listing.

As we look at the top five Chicago homes that sold last month, remember that importance of space and lot size. Consider the negotiation that must be involved for these properties, given that these buyers each obtained a bit of a discount, despite the homes each boasting this coveted feature, larger lot size that allow for larger rooms.

Here’s a detailed look at the top five homes sold, starting with the most expensive:

1931-n-hudson1931 N Hudson Ave
Original list price: $3,499,900
Sold price: $3.3 million
A total stunner in East Lincoln Park, this home was the highest price sale last month, and it’s easy to see why. With 6,600 square feet on a highly sought-after street, the home features a huge functional living space with 12-foot ceilings, Brazilian walnut floors, custom lighting, professional grade appliances and an elaborate smart home system. Extensive millwork with built-ins can be found throughout, done with an unparalleled level of sophistication and finish. A number of additional features include custom window treatments, master bath with spa-like feel, lower level family room with separate play space a custom-designed commercial wine room, professionally landscaped front and rear yards, two-tiered deck off great room and kitchen, and a sky-lit first floor breezeway that connects to an attached two-car garage.

3922-n-greenview3922 N Greenview Ave
Original list price: $2.839 million
Sold price: $2.695 million
Just two years old, this stunning custom home is in pristine condition, situated on a family-friendly, quiet block in the Southport Corridor. The home was built extra wide, on an extra deep (165 feet) lot, with 6,200 square feet that includes seven bedrooms (four on one level). The home’s lower level has a custom bar with walk-in wine room, playroom and additional pantry, making this space an entertainer’s dream. No detail has been overlooked, from the five-inch walnut floors to the high ceilings, the radiant heated floors to the elevator. This home also features an in-law suite on the third floor. A covered raised stone patio with a built-in grill overlooks an amazing 25-foot x 45-foot yard. And this home is two blocks to Blaine School, one of the most coveted schools for Chicago parents.

61-e-elm61 E Elm St
Original list price: $2.9 million
Sold price: $2.6 million
This row home is history on the outside (a 1885 renovated façade) and updated for modern living on the inside (gutted to the studs and rebuilt with superior finishes and timeless design). With 5,200 square feet, this home is great for family living and entertainment. Find a calming vibe with orientation to the the outdoors, including a terrace, balcony, huge deck with city views. Interior details are abundant, with such as a marble-surround fireplace and crystal chandelier in the living room, custom built-in kitchen, hardwood oak floors on three levels, heated floors in all bathrooms, Sonos audio system and an ABT security system. The lower-level fourth bedroom makes an ideal nanny or in-law suite. Not to mention, this Gold Coast home is in a great location, close to the Magnificent Mile, dining spots and Lake Michigan beaches.

4439-n-hamilton14439 N Hamilton Ave
Original list price: $2.675 million
Sold price: $2,505,563
This stunning Chicago home has everything: location, width, light, space and beauty inside and out, right in the heart of Lincoln Square. Built on a huge lot—37.5 x 177 square feet—with a huge yard and wide interior space, the home was built in 2008 and boasts an interior design by HGTV designer Meg Caswell. The huge backyard is like a personal private park, with Ipe wood and wrought iron front porch. Inside is a number of carefully appointed details for the most discriminating buyer, including high end finishes and an absolutely perfect floorplan. The gorgeous kitchen, great room, formal dining room and living room stretch up to 11-foot ceilings. A master suite includes a large master bedroom, walk-in closet and a hotel-quality marble master bath with soaking tub.

1360-n-state-pkwy1360 N State Pkwy
Original list price: $2.48 million
Sold price: $2.2 million
Inside this historic Gold Coast Greystone, you’ll find 4,000 square feet across and open floor plan and three stories. This Chicago home boasts 11-foot ceilings, a first-floor living room and parlor with two wood-burning fireplaces, plus a Bluestone patio accessible through dining room French doors. The second-level master suite includes a second bedroom that could be used as a sitting area with private terrace, overlooking a beautifully landscaped backyard. This home’s top floor features two bedrooms, an office and a hall bathroom, while the lower level includes radiant heated floors and two entrances to allow the space to function as a guest suite. This location in the Gold Coast is highly sought after as well, just blocks from great schools, parks, shopping, restaurants and the Magnificent Mile.

It’s a great idea for buyers to be aware of what’s recently sold in Chicago real estate to understand the market climate and what you can expect when you’re prepared to make an offer yourself. For more details on the properties that sold last month or to see what’s available now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

4 out of the 5 Most Expensive Luxury Condos Sold for Cash in March

Last year when the luxury real estate market in Chicago was experiencing a major surge, it was common to see many homes being sold to cash buyers, even into the ultra-luxury, multi-million dollar price range. When the luxury market becomes competitive for buyers, cash is king for standing out to a seller as the buyer who will provide the smoothest transaction.

You can really see this at work in March’s luxury condo sales. There were clearly some negotiations that went on between these buyers and sellers, and a cash offer likely helps those deals fall in favor of the buyer, especially given our current real estate environment. With the government trying to increase the rate of inflation, we’re anticipating interest rates going up periodically in 2017. That anticipation only fuels sellers’ desire to move their property, and they really perk up at a cash offer that they won’t lose to a mortgage contingency. Several sales this month show that the seller was willing to discount from the listing price considerably in order to make the deal happen.

Here is a closer look at what sold last month, starting with the most expensive (and highly discounted) Chicago condo sale:

800NMichigan800 N Michigan Ave, Unit 5001
Original list price: $5.9 million
Sold price: $4.35 million
The most expensive Chicago condo to sell in March sold for cash, and for a significant reduction in price. This property was negotiated down to more than a whopping $1.5 million off the original list price. Plus, a unit like this in Park Tower is a rare find on the market. Located on a half-floor in the iconic building, this condo lives more like a home in the sky, with a generous 4,200 square feet of living space. The open floor plan includes three bedrooms, a theater room, eat-in kitchen and laundry room. Two east-facing terraces boast breathtaking east, south, and north wraparound views of the lake and city from every window. Other details include rich finishes, hardwood walnut floors, custom millwork and abundant storage. Residents of Park Tower also have access to the adjacent Park Hyatt’s renowned five-star amenities, NoMi Restaurant and much more.

77-e-walton77 E Walton Pl Unit 24C
Original list price: $5.2 million
Sold price: $3,870,260
The cash buyer of this Chicago condo got one heck of a deal—the purchase price came in at more than $1.3 million less than the original asking price. This 4,788 square foot, three bedroom unit has stunning lake and city views, thanks to its great location that allows residents easy access to 900 Michigan Avenue and to the amenities at the Four Seasons Hotel. Inside, you’ll find floor-to-ceiling windows, 10-foot ceiling heights and a split bedroom floor plan. The gracious entry foyer leads to spacious rooms throughout, providing a wonderful arrangement for casual or formal entertaining. Other key details include a Snaidero kitchen with butler’s pantry, a state-of-the-art audio decibel electronic system and a huge, multi-room master suite.

77 E Walton St, Unit 26C
Original list price: $3.895 million
Sold price: $3.65 million
This chic, sleek and sophisticated residence spans nearly 4,800 square feet, and was recent redone and move-in ready for a new buyer. The home boasts fabulous southeast views of the lake, city skyline and southern end of the Magnificent Mile. Plus, you’ll find perfect wood floors, a state-of-the-art Snaidero kitchen and a handsome wood-paneled library. The four-room master suite has a separate sitting room with fireplace, a luxurious master bath and huge master closet. Every room has an amazing view. The building at 77 E Walton is a prestigious, intimate boutique community in an iconic building, with amenities that include a private concierge and service, roof deck, immediate access to shopping and dining in 900 Michigan Avenue and the Four Seasons Hotel. This unit was also bought with cash.

840-n-lake-shore-dr840 N Lake Shore Dr, Unit 601
Original list price: $3.5 million
Sold price: $3.3 million
This Lake Shore Drive gem is one of the city’s finest addresses, having been exquisitely maintained and exuding luxury and grace through and through. It’s A+ lakefront location means sweeping lake views, visible through floor-to-ceiling windows in this property’s 3,965 square feet. . The marble foyer opens to an expansive living room with fireplace and gorgeous built-ins. An incredible dining room in a rotunda boasts unbeatable views in every direction. The eat-in kitchen includes professional-grade appliances and access to south-facing terraces that overlook a park. And the huge master suite features a sitting area, built-in book cases and dual walk-in closets. The buyer paid cash for this incredible Chicago condo.

33-e-bellevue33 E Bellevue Pl Unit 7-E

Original list price: $2.995 million
Sold price: $2.85 million
This penthouse-level duplex has it all: 3,094 square feet. Lake views. Two huge terraces. The space is idea for entertaining, with a large master suite, three bedrooms and 2.2 baths. One parking spot was included in this sale, which was purchased through conventional financing.

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.

Luxury Single-Family Homes Sales in Chicago Weaker in February

For buyers who were ready to make a purchase last months, deals were certainly to be had. Looking at the February sales for luxury single-family homes in Chicago, it’s clear that sellers who have had their properties on the market for some time opted to sell at a reduced price and not hang on further.

With the prediction that interest rates are going to increase this year and an uncertain political environment, it’s possible that we could see the real estate market turn back to a buyer’s market. More undecided buyers might stay on the fence rather than making a move, which would create less competition in the market. But, it’s still early, and luxury sales in March should provide more of an indication one way or another.

In the meantime, the top single-family homes that sold in February pointed toward a few clear wants among luxury buyers: namely, new construction and extra-wide lot sizes. At least one of these two features are among the top five most expensive homes that sold last month.

Looking at what sold in the previous month is a great idea for buyers who want to understand what the market looks like before they head to the negotiating table themselves. I always recommend my clients see what types of properties and features are selling for top dollar, then seeing how those compare to their own budget. That way, there are no surprises or unexpected dollar signs when you’re ready to make your own offer.

With that, here’s a more detailed look at the top luxury homes in Chicago that sold last month, in descending order.

34 E Bellevue Place34 E Bellevue Place
Original list price: $3,999,999
Sold price: $3.75 million
This Gold Coast renovation was the top sale for the month, located on one of the very best streets in the neighborhood. The property boasts a one-of-a-kind style, elegance and timeless modern luxury with impressive custom millwork, magnificent LED lighting, an expansive outdoor terrace and decks and sun-filled rooms throughout. A luxurious master suite includes a marble bath with dual vanities with hidden mirror TVs and a separate soaking tub, huge steam shower and smart use of space. The chef-inspired gourmet eat-in kitchen has high-end appliances, wine cooler, huge marble island and opens via French doors to a large terrace with great outdoor dining. The coveted Gold Coast location is just one block from Oak Street Beach, Michigan Avenue shopping, restaurants and parks.

1225 W George St1225 W George St
Original list price: $3.995 million
Sold price: $3.6 million
A fabulous home with a 75-foot stretch of frontage, this property was transformed by famed architect Larry Booth in 1999 and was since won an AIA award. Its 7,400 square feet allow for an open floor plan and a design that boasts amazing sight lines from the front courtyard to the private deck. Incredible architectural details include concrete-beamed ceilings, large windows, oversized poured concrete slab floors with radiant heat and floor-to-ceiling custom fireplace. The kitchen (a stunner with stainless steel appliances, wine cooler, warming drawer and seamless granite countertops) opens to a large, inviting family room. The dramatic dining room with a floating wall conceals a butler’s pantry and half bath. The large master suite looks onto an incredible 40-foot indoor lap pool, with a master bath boasting a soaking tub, separate shower and private outdoor terrace. Additional living spaces offer even more space, like a huge studio that could be a separate commercial office and an incredible fifth bedroom that could serve as a playroom, nanny’s quarters or sleeping area.

2131 W Agatite Ave2131 W Agatite Ave
Original list price: $2,249,999
Sold price: $2 million
5,100 square feet
This newer construction home in Lincoln Square has been highly customized. Situated on an extra-wide, 37.5 foot lot on an quiet, tree-lined street, this home ensures no detail has been spared in thoughtful design and functionality. There are 12-foot ceilings throughout the main level, along with two wood-burning fireplaces, and a kitchen will all the bells and whistles: Twin Subzero built-in refirgerators, double Wolf oven and gas range, dual Bosch dishwashers, built-in Miele coffee/cappuccino maker and two wine beverage refrigerators. The large master suite has huge dual closets and a spa-like master bath with heated floors, a two-person steam shower and separate Jacuzzi tub. Outdoors, you’ll find an amazing finished roof deck with a veranda, outdoor TV, dual-tap built-in beverage chiller, grill, fans and gas firepit.

1455 W School St1455 W School St
Original list price: $2.099 million
Sold price: $1.995 million
This is a brand-new construction property in the Southport Corridor. Starting with a brick and limestone façade, this 4 bedroom, 5.2 bath home has been tastefully designed through and through, with elegant millwork and ceiling treatments, custom kitchen cabinet design and more. Also included are high-end bathrooms, commercial-grade appliances, large family and rec rooms and an amazing patio and rooftop deck.

4513 N Paulina St4513 N Paulina St
Original list price: $2.15 million
Sold price: $1.885 million
This 7 bedroom, 4.2 bath new construction home spans a whopping 5,700 square feet, thanks to an extra-wide, 35 x 163 foot lot. This brand-new modern masterpiece exhibits the most high-quality, master craftsmanship inside and out, with state-of-the-art finishes, top-of-the-line appliances, volume ceilings and much more. The square footage allows for expansive room sizes, and the whole house boasts amazing width, depth, flow and natural light. The outdoor space features a large rear deck and 1,000 square foot backyard. Located in a desirable Ravenswood/Lincoln Square location, this home also offers easy access to the El, Metra, shops, restaurants and entertainment.

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

Chicago Luxury Condo Sales Went Out Strong in December

As we wrapped up 2016, the top Chicago condos were singing much of the same song that they did for much of the year. Ultra-luxury properties reigned among the most expensive homes sold, not just in terms of price but in the exceptional elegance found in each and every one.

The priciest condos to sell in December were all found in some of the city’s most prestigious buildings. Whether vintage, co-op, new or old, these buildings are all in highly coveted locations, thanks to the walkability to exquisite shops, city activities and diverse dining options.

The other common denominator among the condos sold last month was square footage. Luxury buyers want at least 3,000 square feet, and that showed in the top sales. A penthouse co-op offered 5,580 square feet, which is a number typically associated with a single-family home in the ‘burbs.

Lastly, a majority of these top sales were sold at a major discount from the original listing price. A co-op on East Lake Shore Drive sold for a solid $1 million less than it was originally listed at. That’s a great deal for the buyer who isn’t afraid to shop for real estate during the cold winter months, when sellers are apt to negotiate and get those properties off the market.

All in all, December saw $68 million in total sales for December. Let’s take a more detailed look at what sold, with the top five properties in descending order:

Water Tower Place at 180 E. Pearson in Chicago

180 E Pearson St, Unit 5603
Original list price: $3.5 million
Sold price: $3,562,460 million
This ultra-luxury Chicago condo (purchased by a cash buyer) is one of five custom residences in the iconic Water Tower Residences, one of downtown’s most beloved buildings. These condos are being transformed into gorgeous, custom homes by Centaur Interiors, completely renovated using the finest materials and fixtures, state-of-the-art technology and precise attention to detail. The new residents can enjoy forever views in every direction, along with AAA+ amenities of the Ritz-Carlton, such as a concierge, 24-hour door staff, fitness center, pool, room services and more.

450ewaterside450 E Waterside Dr, Unit 2801
Original list price: $3.9 million
Sold price: $3.45 million
A penthouse unit with nearly 5,000 square feet of living space, this Chicago condo was a rare opportunity for the buyers to get into one of the premier buildings of Lakeshore East. This neighborhood offers spectacular lakefront and riverfront living, with breathtaking water and skyline views from every room. The unit boasts a dramatic foyer that opens to more that 46 feet of open, spacious living space fitted for modern living. Lux features include 11-foot ceilings, smart home technology, LED lighting and an exceptional level of detail given to the comfort and ease of living throughout the home. Located just a few blocks from Millennium Park and Navy Pier, the Chandler amenities include an indoor rooftop pool fitness and media rooms and an array of offerings still in the works.

4EastElm4 E Elm St, Unit 13S
Original list price: $3.4 million
Sold price: $3.4 million
The new construction condos at 4 East Elm were easily among luxury buyers’ favorite buildings in the second half of 2016—and sales are still going strong, with more than 90% sold. These sleek and modern half-floor residences each have elevator entry and most have three exposures that allow expansive lake and city views. This building is the ultimate urban oasis of luxury and privacy, with amenities that include an outdoor pool, sun deck fitness center, screening room, clubhouse lounge and 24-hour door staff. This 3,500+ square foot unit in particular was purchased with cash.

209ELakeShoreDr209 E Lake Shore Dr, Unit 1E
Original list price: $4.2 million
Sold price: $3.2 million
A beautiful co-op building in the Gold Coast, this three-bedroom property spans a generous 5,580 square feet and was completely redone by renowned architect John Ronan. The exquisite renovation kept the unit’s classic design and enhanced elegant, rich details like hardwood floors, extensive millwork, sleek moldings and more. The open floor plan is ideal for entertaining, and calming views overlook the lake and the treetops along East Lake Shore Drive. This co-op was also purchased by a cash buyer.

1550_N_State_Unit_FrontView_1_1550 N State Pkwy, Unit 402
Original list price: $3.85 million
Sold price: $3 million
Purchased by a cash buyer, this 4,160 square foot Chicago condo is in one of the most revered buildings in the Gold Coast. Occupying a half floor, this property boasts east and north views of the stunning lake and park from every room. Along with three bedrooms and three-and-a-half baths, this home features four balconies, 10-foot ceilings, major windows and bays and two fireplaces. The building amenities include 24-hour door staff, a guest apartment, exercise room, wine room and a live-in engineer.

For more information on Chicago condos that sold last month, or to take a look at what’s on the market now (and take advantage of those winter buyer benefits!), contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.