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.

Prime Chicago Luxury Condos Still Selling In November

Even with the start of winter moving in, November was a healthy month for Chicago luxury condo sales, with $42 million in total sales volume. Of the 25 $1 million-plus homes sold, several of those were in the “ultra-luxury” category, selling for more than $2.5 million.

Although the Chicago condo sales in November don’t look as robust as they did in the middle of the year, it is interesting to note that ultra- luxury properties (I consider those to be sales from anywhere between $2.5 and $3.5 million) continue to sell in prime buildings in the right neighborhoods. In fact, last month’s top five properties sold included two units in 2550 Lakeview, a Lucien Lagrange-designed building in the heart of Lincoln Park. The building has exceptional views and one of the most elegant lobbies in the city.

Learn more: 2550 Lakeview Ave

See what’s on the market at 2550 Lakeview

As we’ve seen become the case in recent months, the primary motivating factor for Chicago luxury buyers is square footage, and November was no exception. The square footage of the top sales ranged from a low of 2,843 to a generous 5,600 square feet. I actually suggest to my clients shopping for a condo that they aim for a unit that is at least 3,000 square feet—this seems to be the number that most luxury buyers need to not feel as if they are sacrificing space if they’ve moved from a single-family home.

Let’s take a closer look at those top five sales to see what motivated luxury buyers last month:

25502550 N Lakeview Ave, Unit S3003
Original list price: $3.9 million
Sale price: $3.5 million
It’s been awhile since we’ve seen a unit at Lincoln Park 2550 on the top sales list, likely because many residents who bought new construction here are in it for the long haul—but last month saw two sales in this beloved building designed by Lucien Lagrange. This magnificent, 30th-floor unit spans 3,679 square feet, including four bedrooms, 4.5 baths and two large terraces. The layout offers extraordinary east, north and west views that look out onto Lake Michigan, Lincoln Park and the city skyline. This unit in particular is one of just three on the floor, with 10-foot-8-inch ceilings and luxurious interior finishes throughout the formal living and dining room, large kitchen, family room, a spacious master suite with corner views and a separate utility/laundry room with a second service entrance. Lincoln Park 2550 has been a coveted building among luxury buyers, thanks to its full suite of amenities and services that include on-site management, a concierge and door person, spa-like fitness area with pool, sauna and steam room and a quarter-acre private park with dog run and playground. It’s Lincoln Park location makes it as easy walk to the many destinations within the park, lake Michigan, shops and public transportation.

4EastElm4 E Elm St, Unit 12S
Original list price: $3.4 million
Sale price: $3.48 million
This 3,516 square foot Chicago condo was yet another cash sale in the new construction building 4 East Elm. The building offers modern luxury living in its 35 half-floor residences, each of which has elevator entry into the unit. Residents here can also enjoy expansive city and lake views through at least three exposures. And the building itself is an ultimate oasis of luxury and privacy, with an outdoor pool, whirlpool, sun deck, fitness center, screening room and clubhouse lounge.

2430-n-lakeview2430 N Lakeview Ave, Unit 7-8S
Original list price: $3.48 million
Sold price: $3.2 million
This co-op was only open to a cash buyer, and its new owner was able to strike a pretty good deal on the price. A 5,600-square foot vintage duplex, this four-bedroom unit boasts incredible architectural details like an artistically carved wood-paneled living room with sculpted marble hearth and a matching wood-paneled library—both of which overlook the lake and park. Other features include an elegant dining room with fireplace, foyer with grand staircase, spacious eat-in kitchen and an outdoor common patio area.

Lincoln Park 2550 Lobby

2550 N Lakeview Ave, Unit S2401
Original list price: $3.199 million
Sold price: $3.175 million
This southeast-facing three bedroom unit is one of the building’s most highly desired tiers, with designer finishes, custom drapery and wall coverings and unparalleled views of Lake Michigan, Lincoln Park and the Chicago skyline. This 24th-floor unit offers a family room with fireplace and built-ins, a large dining room and formal living space with picturesque views, a chef’s kitchen with commercial-grade appliances and quartzite countertops and a master suite with spa-like master bath.

420-e-waterside420 E Waterside Dr, Unit 4310-14
Original list price: $2.95 million
Sold price: $2.85 million
Recently renovated and designed for upscale entertiaining, this 4,300 square foot penthouse boasts spectacular views in Streeterville. A large, open living space includes a luxurious kitchen, living room, bar and dining room that look out at a panoramic view of the city. In addition to envious views, floor-to-ceiling windows bring in abundant light throughout, including the four large bedrooms. Two full master suites have a separate seating area, soaker tub and huge closets. This unit is located in The Regatta, a full-amenity building with a fitness center, pool, game room, theater, party room and outdoor deck. Its location put residents here just steps away from Millennium Park, the riverwalk and a number of great restaurants.

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

Why Certain Chicago Luxury Condos Should Rise in Price

Given that the last decade of real estate across the country has had it’s ups and downs, it’s important that home buyers consider the “big picture” when thinking about a home purchase.

That means not just evaluating what’s right in front of them—the current sale price. Sure, that’s the number that’s right in front of them and plays a huge role in negotiating a deal. But I encourage all of my clients to look beyond that, and think about future resale price as a major factor in determining the value of a home.

This consideration might seem like it requires a crystal ball, but it’s really as simple as taking a good look at the building itself, the property’s features, and any included amenities. These are all important factors that play into making a Chicago condo building stand out among the rest. If it’s a run-of-the-mill building now, it’s not likely to be a “wow” building in a few years down the line.

There are a number of condo buildings in Chicago, though, that have this differentiation factor nailed down. They are renowned enough to be known by name rather than an address, thanks to features such as:

Noteworthy architecture: From Benjamin Marshall to Lucien Lagrange to Jeanne Gang, Chicago has an impressive offering of famous architects behind some very unique residential buildings. This is the city where much of modern architecture was born, and for design buffs, living in a building that showcases that star status is a major plus.

Interior details: The “little things” go a long way in terms of real estate value. Ceiling heights, high-end finishes, top-of-the-line appliances and more are must-haves in any luxury Chicago condo; and better yet, each of these seemingly small features will have a story behind them. For example, there are hardwood floors, and then there are 5-inch Brazilian oak floors. Which do you think stands out more in a real estate listing?

Location: It’s what everyone wants in real estate, right? Location, location, location. This of course, can mean different things to different buyers, but a safe bet is a location in a great neighborhood, close to downtown with easy access to an airport.

Chicago Condo Buildings with Resale Power

imageWANDA VISTA TOWER: This new condo building in Lakeshore East is being designed by Jeanne Gang, and will showcase a nature-inspired, crystal-like façade on the front of the building. A show-stopping feature like that is one that can’t be found in any other building in Chicago, making this an ultra-unique (and therefore valuable) property from the start. The Vista Tower’s 93 stories will also surpass the Aon Center in height and become the city’s 3rd tallest building.

2550LINCOLN PARK 2550: This Luxury condo building aimed to set itself apart for its inception, and it’s done just that. First, the building’s jaw-droppingly beautiful lobby is a perfect introduction to what waits beyond 2550’s doors. It’s elegance is felt the moment you step foot into it. This building also shines with its long list of amenities, which cater to everything from families to executives to pet owners. A ¼-acre private park, a dog run, a theater room, club room, game room and a stunning pool and spa are a few things that residents here enjoy right outside their front door.

Trump Tower Downtown Chicago

TRUMP TOWER: This is the building in which I get the most inquiries about from prospective buyers wanting to buy luxury real estate in Chicago. It’s a famous name, of course, but I always explain that living in Trump Tower isn’t just your address—it’s a lifestyle. It’s having your car valet parked each day, or having dinner from the building’s Michelin-rated restaurant brought to your front door, or having five-star service at top-rated luxury spa just a quick elevator ride away. In the heart of River North, Trump Tower also has the location factor. Living here puts you a short walk to Michigan Avenue, the Loop, shopping, the beach and much more.

These are the buildings that are getting the attention in the market, and it’s not a mystery as to why. I’d love to show you in person what makes these properties so special and important to the future of Chicago luxury real estate with a tour of the building and neighborhood. Contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Most Expensive Unit Sold in 15 Chicago Luxury Condo Buildings During 2015

Chicago luxury condo sales had a strong year in 2015, but the ultra-luxury condo market was what really stood out. These are the $2 million-plus sales that include every bell and whistle a luxury buyer could hope to find—hence the price tag to go with it. Let’s take a look at what made the most expensive sales last year so special.

Features of Ultra-Luxury Real Estate in Chicago

Every buyer has his or her own unique wish list when they start hunting for a new home, but there are definitely trends among luxury buyers and what they’re looking for. The most common features I find luxury buyers want are:

  • Location: Downtown, close to downtown or in a great neighborhood near schools, dining and nightlife.
  • Newness of the building: Buyers want new construction, or as close to it as they can get.
  • Architectural details: A building’s design inside and out can make it stand apart from others, and buyers love a building by a noteworthy architect or designer.
  • Views: It wouldn’t be a luxury property without a built-in panorama of beautiful Chicago.
  • Square footage: Condo living doesn’t mean sacrificing space, and luxury buyers want at least 3,000 square feet, plus outdoor space on decks or terraces.
  • Services: From valet parking to in-room catering, the right luxury condo building puts every service imaginable at their residents’ fingertips.

Any luxury buyer will be happy to find a property that hits on those features. But the ultra-luxury buyer takes it a step further. This is the buyer who not only wants a great building, but the very best condominium in it—a luxury unit that is head and shoulders above anything else at that address.

These are the types of properties that get everyone in the building talking. For the client with the right budget (millions of dollars), it’s as much a statement-making status symbol as it is a place to call home.

Top Ultra-Luxury Condo Sales in Chicago for 2015
We saw a number of these types of properties sell in 2015—ultra-unique Chicago condos with unusual features you don’t find among typical luxury real estate. Of the top 15 individual sales, 13 sold for cash, and not one for less than $4 million.

Here’s a look at 15 Chicago condos that make for the ultimate luxury home:

189ELakeShoreDr189 E Lake Shore Drive, PH18
Sold price:
$10,375,300
The unit: This beauty on the prestigious East Lake Shore Drive is a penthouse in every sense of the word, and it billed itself as the most magnificent one in the city. The interior boasts 7,662 square feet on the inside and almost 3,000 square feet of private outdoor space, including terraces with spectacular lake and city views. And there was one rarer find: this unit included parking for five cars.
The building: This prestigious building recently unveiled a new state of the art exercise facility. It also has one of the most gracious lobbies you’ll find in a Chicago residential building.

 

1300NStatePkwy1300 N State Pkwy, Unit 1201
Sold price:
$6,933,333
The unit: This 3 bedroom, 4.1 bath unit is an exquisite duplex at The Ambassador. Its 6,800 square feet includes a library, private dog run, DeGuillo kitchen with La Cornue range and 5 fireplaces, plus a 1,400 square foot private terrace. Sweeping views, custom fittings, soaring ceilings, a custom staircase and tasteful design throughout add to the features that make this Chicago condo a total standout.
The building: The Ambassador is a pet-friendly building that includes an exercise room, bike room, party room and sun deck. Its Gold Coast location puts it just 2 blocks from the lakefront.

 

159EWalton159 E Walton, Unit 33A
Sold price:
$6.2 million
The unit: Located in the famous Palmolive building, this 5,200 square foot, full-floor unit was designed by Nate Berkus. The lux master suite includes a spa bath and elegant dressing room, and the eat-in kitchen boasts appliances by Wolf, SubZero and Miele. The space in this 3-bedroom unit makes it perfect for an art collector, with additional features such as outstanding lake views, a private elevator lobby, a whole-house smart system for lighting, shades and music.
The building: Architecturally speaking, this building is world renowned for its dynamic art deco design. Amenities include a modern exercise facility, a common entertaining room, a 24-hour door staff and additional storage space for residents.

 

2550NLakeview2550 N Lakeview Ave, Unit S3801
Sold price:
$6 million
The unit: This was a great opportunity for the buyer to turn a new construction condo into their urban dream home. This southeast duplex penthouse in Lincoln Park 2550 spans a whopping 8,167 square feet of raw, un-designed space across two top floors.
The building: Designed by architect Lucien Lagrange, Lincoln Park 2550 is at the top of the list for what Chicago has to offer in luxury real estate. It’s a smaller, boutique building with an ultra-elegant feel and five-star amenities, including a health club and spa, private park, theatre room and more.

 

1021NDearborn1021 N Dearborn St
Sold price:
$5.5 million
The unit: The details are scarce on this 5,835 square foot 4-bedroom, as it was sold before it was even officially listed. But this is an exceptionally elegant Chicago condo, with 4 levels, a 441-square foot wrap-around balcony, and a full-floor master suite.
The building: Located at Dearborn and Oak streets around the corner from Washington Square Park, this modern townhome building is an exquisite design from Smithfield Properties, who also built the neighboring 30 West Oak.

 

340ERandolph340 E Randolph
Sold price:
$5.2 million
The unit: A top-floor penthouse, this 4,919 square foot 3-bedroom in 340 on the Park boasts one of the huge selling points of a luxury condo in Lakeshore East: Endless views of Millennium Park and the city skyline, enjoyed through soaring 12-foot, floor-to-ceiling windows. Inside, you’ll find a high-end chef’s kitchen with multiple entertaining areas, a master suite with sitting area and private office, plus contemporary finishes, smart-wired audio, electronic window treatments and tons of closet space. Three terraces make it easy to enjoy sweet Chicago summers.
The building: 340 on the Park anchors the south entry into Chicago’s Lakeshore East neighborhood, with a stand-out design. The lobby envelopes you in luxury the moment you walk in, and each residence is a perfect blend of traditional elegance and modern living. Amenities here include a sky garden atrium, club room, fitness center with lap pool and spa facilities.

 

435WDeming435 W Deming Pl, Unit 435
Sold price:
$4,999,999
The unit: This brand-new 5 bedroom, 4.2 bath new construction unit was sold before print.
The building: A new construction property from LG Development, 435 W Deming is a group of ultra-luxury row homes across from Lincoln Park.

 

65EGoethe65 E Goethe St., Unit 101
Sold price:
$4.9 million
The unit: With 3 bedrooms, 2.2 baths and a whopping 5,500 square feet, this unit is an ideal property for an art collector, thanks to generous wall space for showcasing work. This two-level unit also includes facing private terraces that overlook Goudy Park, a custom terrazzo floor on the first level, two included parking spaces and an adaptable floor plan to add additional bedrooms and bath if desired.
The building: The Chicago condos at 65 E Goethe are a crown jewel of the Gold Coast. Designed by Lucien Lagrange, the building has a traditional French style that fits right in with the elegance of the Gold Coast. Residents here enjoy an on-site concierge/manager.

 

209ELakeShoreDr209 E Lake Shore Dr, Unit 7E
Sold price:
$4.5 million
The unit: A 5,900 square foot 3-bedroom, 4.2 bath, this thoughtful and meticulous condo was renovated just 3 years ago by Marvin Herman Archiects. Features include a stately living room and dining room that share unsurpassed views of the city and lake, a paneled library, a custom kitchen and breakfast room with Clive Christian cabinetry and La Cornue range, Italian walnut-paneled media room and a master suite with attached sitting room, his-and-her baths and dressing rooms.
The building: This is one of the city’s finest co-op buildings, designed by renowned architect Benjamin Marshall in 1925. Amenities include a 24-hour door staff, an exercise room, private garden and attached parking garage.

 

800NMichigan800 N Michigan Ave, Unit 5702
Sold price:
$4.25 million
The unit: This half-floor residence in Park Tower showcases spectacular details throughout: an Ernestomeda kitchen, fireplace, walnut floors, zen master bath, custom closets, smart house audio-video system, a wet bar and a midnight kitchen. Exceptional 270-degree views can be enjoyed from inside or from the 8 by 14-foot terrace.
The building: Park Tower is one of the most loved luxury condo buildings in downtown Chicago, also designed by Lucien Lagrange. Residents of Park Tower can take advantage of the services and amenities from the adjacent Park Hyatt Hotel, such as the full-service NoMI Spa, 25-yard pool, dry cleaning services and much more.

 

159EWalton159 E Walton Pl, Unit 18A
Sold price:
$4.4 million
The unit: With 4,700 square feet high on the 19th floor, this 3-bedroom condo boasts unobstructed views of Lake and Michigan Avenue. Exquisite attention to detail is found throughout, such as hardwood floors, top-of-the-line kitchen appliances, two included parking spaces, an eat-in breakfast nook that overlooks Lake Michigan and 4 separate HVAC zones. The unit’s grand master suite includes a sitting room, lux bath with whirlpool tub and lake view, and a separate wing is home to 2 large ensuite bedrooms.
The building: Chicago’s Palmolive building is not only an architectural gem for its renowned art deco style, but one of the most sought-after vintage buildings for luxury living. Residents here can enjoy access to the building’s private health club, concierge services and attached heated parking.

132EDelaware132 E Delaware Pl, Unit 6302
Sold price:
$4.25 million
The unit: This 7,000 square foot duplex was designed by Juan Pablo Molyneaux and architect Marvin Herman high atop the Four Seasons Hotel. The details are impeccable: P.E. Guerin hardware, Beaumaniere limestone floor, a grand staircase to the second level and the highest quality custom finishes and millwork, to name a few. The spectacular double-volume space includes ensuite bedrooms, library, second floor gallery, 2,000 bottle wine cellar, tasting room and home theater.
The building: Residents of 132 E Delaware have a great advantage in sharing an address with the Four Seasons Hotel, allowing them to take advantage of all amenities and service offered by the 5-star hotel group.

 

340ERandolph340 East Randolph St, Unit 5903
Sold price:
$4.138 million
The unit: This luxury penthouse boasts all of the details that put a property in the luxury category: high ceilings, contemporary finishes, maple hardwood floors, Snaidero cabinets, built-in appliances, smart-wired audio and electronic window treatments. Panoramic views of the city skyline, Millennium Park, Lake Michigan and Buckingham Fountain can be enjoyed from a large 11-by-31-foot covered terrace.
The building: A favorite in Lakeshore East, 340 on the Park includes a winter garden, 75-foot, 2-lane lap pool and state-of-the-art exercise facility.

 

401NWabash401 N Wabash Ave, Unit 41S
Sold price:
$4.1 million
The unit: This property is less than 10 years old, but its 4,000 square feet have been highly upgraded, with features including 2 fireplaces, 10-foot floor-to-ceiling windows, Miele, SubZero and Wolf appliances; not to mention, the breathtaking views that are a guarantee at Trump Tower. This sale also came with potential to be combined with the 1,100 square foot unit next door to create 5,100 square feet of wrap-around views.
The building: Not only is the River North location highly coveted for its easy access to the best things Chicago has to offer, but Trump Tower is a sought-after building in itself. Residents here can enjoy the amenities from the building’s hotel, along with 5-star services like in-home catering, valet parking and more.

 

30WOak30 W Oak St, Unit 12B
Sold price:
$4 million
The unit: This 3-bedroom, 3.1-bath was beautifully custom designed throughout its 3,349 square feet.
The building: This Gold Coast building is less than 10 years old and a favorite among luxury buyers looking to be close to downtown Chicago. A south-facing, all glass façade brings in stunning light and neighborhood and skyline views. Each unit inside boasts 10-foot ceilings and a private terrace to take it all in.

 

 

 

 

 

Ultra-Expensive Condos Sell in Chicago’s Hottest Buildings in October

If you look at sales volume, Chicago condo sales were basically flat in October from the month previous, totaling $51 million. But what’s really noteworthy from last month’s condo sales are the ultra-luxury properties—of the 31 properties that sold, 9 sold in excess of $2 million. Not to mention, these sales were found in five of the most sought-after buildings in the city.

What makes a building stand apart from the rest? Buildings like those found in last month’s sales tend to well, have it all. Location. Views. Newness (in terms of construction, compared to other condos on the market). Many luxury condo buildings also carry architectural significance, and three of the buildings on this list—2550 Lakeview, 840 Lake Shore Drive and 270 Pearson—were designed by Lucien Lagrange, the beloved Chicago architect whose name is behind some of the city’s finest buildings.

Not only do the buildings themselves have plenty to offer, but the condos within them must stand apart as well, whether that’s via a great floor plan, incredible views, outdoor space or other upscale features. Last month’s most expensive condos sold each have their own set of distinguishing features—here’s a closer look at the top five in descending order.

30WOakSt30 W Oak St, Unit 12B
Original list price: $4.1 million
Sold price: $4 million
Inside a popular building in downtown Chicago, this 3,349 square foot, three bedroom unit was custom designed to showcase the luxury that is felt the moment you lay eyes on the building. The building is an stunning combo of contemporary design (with an elegant curved glass façade that offers spectacular city views) and elegant Gold Coast living (with features like 10-foot ceilings, floor-to-ceiling glass windows and expansive terraces). Building amenities include state-of-the-art fitness facilities, separate storage rooms and an interior heated garage.

lp-25502550 N Lakeview Ave, Unit C7-34
Original list price: $2.895 million
Sold price: $2.75 million
This condo in one of the city’s hottest buildings has plenty to offer indoors and out. Outside, find 2 terraces totaling 84 square feet that look out to amazing east lake and park views. Inside, 2,884 square feet include a fully appointed cooks’ kitchen with top-of-the-line appliances, oak floors, floor-to-ceiling windows and a large master suite with marble spa bath. The building (designed by famed Chicago architect Lucien Lagrange) includes incredible amenities like an indoor pool, fitness center, dog park and more.

Chicago real estate at 840 N Lake Shore Dr840 N Lake Shore Drive
Original list price: $2.75 million
Sold price: $2.6 million
Lake Shore Drive is an address that’s no stranger to our top monthly sales report, and for good reason. Chicago condos along this stretch of LSD offer incredible lake views, a great location not far from downtown and a number of architecturally significant buildings from architects like Mies van der Rohe and the aforementioned Lagrange. This one was designed by the latter, and has become one of Chicago’s finest buildings. Just shy of 3,000 square feet, this condo was custom designed from a raw space into an elegant home made for the most discerning buyer. Stunning details are found throughout, from the finest finishes to a space made for entertaining.

270EPearson270 E Pearson St, Unit 1001
Original list price: $2.49 million
Sold price: $2.39 million
A unit inside this downtown Chicago condo building rarely becomes available, which tells you a lot about the building it’s in. This sun-filled Chicago condo spans nearly 3,000 square feet, with spectacular views to the south and east that provide a stunning backdrop of Lake Michigan, Millennium Park, Navy Pier and the city skyline. Each of the unit’s 3 bedrooms includes an ensuite bath, plus a den with built-in cabinets, powder room, beautiful open kitchen with large granite island, a spacious living room with fireplace and a large balcony. You’ll also find beautiful details like gleaming hardwood floors, crown molding and high ceilings. Plus, one highly sought-after bonus: 2 included parking spaces.

340 on the Park340 E Randolph St East, Unit 2101
Original list price: $2.49 million
Sold price: $2.375 million
This 2,300+ square foot 3-bedroom is one of the building’s most coveted floorplans, with stunning south view of the lake and harbor, Millennium Park and Buckingham Fountain. The unit includes everything from contemporary finishes to a spacious kitchen to an open floor plan, all just steps away from the best downtown Chicago has to offer. Cultural hot spots, Michigan Avenue and a bevy of great restaurants are all within walking distance.

Consider last month’s Chicago condo sales when you’re embarking on your own search for Chicago real estate. Doing so will help you prepare for what features and amenities come at what price and line that up with your wish list and expectations for your next home.

For more information on last month’s Chicago condo sales or to see what’s on the market now, don’t hesitate to contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Luxury Chicago Condos Hit Record Sales in August

August was a highly unusual month for Chicago condo sales. Luxury condos in particular—those priced from $1 million up to $5.25 million—had a robust month for what is often a slower summer month. Luxury condos totaled $92.6 million for the month, with 13 properties selling for more than $2 million.

The growing number of homes sold for more than $2 million shows that luxury condos are certainly holding their ground and even growing in sales month after month. And large luxury properties are moving especially quickly, as buyers continue to gravitate toward properties with ample square footage—luxury condominiums that offer the space of a single-family home rather than a condo. Of the top five properties sold last month, each one is in excess of 5,000 square feet. Each of them also boasts a number of unique features that set it apart from the other homes on the market.

Here’s a detailed look at the top five Chicago luxury condos that sold in August:

palmolive159 E Walton Pl, Unit 21A
Original list price: $5.75 million
Sold price: $5.25 million
Inside the exquisite Palmolive building, this spectacular 21st-floor unit spans 4,700 square feet. Unobstructed lake views and spectacular details throughout help this condo stand out, along with ceilings of 11+ feet, hardwood floors and surround sound. The gracious formal dining room features lake views, while the spacious kitchen includes its own eat-in area overlooking the lake. A grand master suite features a sitting room, walk-in closet and a luxurious master bath with—you guessed it—its own view of the lake as well. A separate wing includes plenty of extra space: 2 bedrooms with ensuite baths, and office, sitting room and laundry room.

lp-25502550 N Lakeview Ave, Unit D5-36
Original list price: $4.742 million
Sold price: $4.5 million
We’ve seen many luxury sales at this address this year. Lincoln Park 2550 has been embraced by luxury buyers, as one of the most anticipated new construction properties. This Chicago condo takes up half of the 36th floor and offers exceptional panoramic lake and city views. Perched on the building’s northeast corner, this unit stretches over 4,400 square feet on the inside with 2 terraces that make up 325 square feet on the outside. With 11’10” floor-to-ceiling windows, exquisite oak floors, crown mouldings, marble baths and state-of-the-art kitchen appliances, this condo clearly shows why luxury buyers love Lincoln Park 2550.

The Elysian Residences11 E Walton Pl, Unit 4301
Original list price: $4.6 million
Sold price: $4.37 million
Formerly known as the Elysian, this Gold Coast building shares the hotel services and amenities available at the Waldorf Astoria, which shares the building. This half-floor residence on the 43rd floor features more than 4,000 square feet and highly customized finishes including: hand-rubbed mahogany panels in the library, herringbone marble floors in the master bath, a crotched walnut cabinetry in the office, a marble mantel from England and an onyx pedestal sink in the powder. The kitchen is fitted with Miele appliances, a breakfast bar, eat-in area and walk-in pantry.

55eerie55 E Erie St, Unit 5401
Original list price: $5.7 million
Sold price: $4.25 million
This River North condo is a stunning half-floor residence on the penthouse level. With 3 huge terraces, spectacular lake and skyline views and extra-wide ceilings, this 4,200 square feet Chicago condo also offers several building amenities, including an indoor pool, fitness center and a steam and sauna room. Additional stand-out finishes include dark wide-plank flooring, a custom Italian kitchen and a master suite with his-and-her walk-in closets. Not to mention, this unit comes with a whopping 4 parking spaces, a rarity among downtown Chicago condos.

Chicago condos in Trump Tower401 N Wabash Ave, Unit 48A
Original list price: $4,199,999
Sold price: $3.985 million
Another building that’s never a stranger to our top condos list, Trump Tower is the best of the best among luxury condos. This 4,000 square foot unit on the 48th floor was completely upgraded and redesigned by John Robert Wiltgen in 2012. This unit is one of only 9 of its size, with unobstructed northeast views, an open design, 3 custom-designed fireplaces, and his-and-her walk-in closets and baths. Parking was also available at an additional cost.

It’s especially important for potential buyers to take a look at the previous month’s sales if they’re looking to make a purchase. In an unusual month like this one, it’s important to see what condos are selling for and what is being offered to evaluate what you should look for within your own budget.

For more details on the homes sold last month or to see what luxury Chicago condos are on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Sale Records Made In June For Chicago Luxury Condos & Luxury Co-op

Not unlike single-family home sales, luxury Chicago condos sales for June brought in some impressive numbers: 49 properties sold for a total sales volume of $85.5 million. Luxury Chicago condos are those priced $1 million or higher, but 11 of the units that closed in June actually sold for more than $2 million, with the highest priced property (a co-op) going for a whopping $7.4 million.

Here’s a closer look at the top 5 most expensive properties sold on the Chicago luxury condo market last month, in descending order:

209 E Lake Shore Dr209 E Lake Shore Dr. Unit 11-E
Original list price: $7.9 million
Sold price: $7.4 million
One of the pricier sales we’ve seen among luxury real estate in Chicago the last several months, this co-op was noted as one of the most beautiful and elegant apartments in the city. The building was built in 1920, but this home was completely custom renovated by the design team of Gregga and Herman, using the finest materials and finishes to give it the details that take it to the next level. The East Lake Shore Drive address is not only a highly sought-after location, but offers residents unparalleled lake views from the 11th floor.

This unit was a co-op, which many of the buildings along East Lake Shore Drive are. But the truly noteworthy part is that this unit sold for cash in just 19 days. Luxury co-ops typically do not sell as fast as condos because there is much more involved—potential buyers must go before a board to provide all of their financials up front. Buyers coming from cities like New York or San Francisco are often clients who appreciate  pre-war buildings and units that are hardly cookie-cutter, so finding an out-of-town buyer often doesn’t happen quickly either. So the fact that this unit sold in just 19 days is truly remarkable.

2550 n lakeview2550 N Lakeview Ave, Unit C8-13
Original list price: $3.999 million
Sold price: $3.999 million
If you’ve been paying attention to recent sales of luxury condos in Chicago, you’re no strange to this building: Lincoln Park 2550. This is a stunning new construction building in the heart of one of the city’s best neighborhoods and parks, with amenities, services and more all at its residents fingertips. This 3-bedroom, 3.5 bath Lincoln Park condo is luxurious and roomy from the inside to out, from the 750+ square foot terrace to the high-end appliances in the kitchen to the marble spa bath in the master suite.

2550 n lakeview2550 N Lakeview Ave, Unit C8-12
Original list price: $3.854 million
Sold price: $3.795 million
Another Lincoln Park 2550 unit, this 3 bedroom, 3.5 bath spans 3,965 interior square feet, plus an additional 758 square feet on the terrace, which offers amazing southeast lake, park and city views. Inside is a fully appointed cooks kitchen with a large granite breakfast bar, Subzero, Wolf and Miele appliances and a gracious living room and dining room with oak floors and floor-to-ceiling windows. The large master suite features a walk-in closet and marble spa bath. Residents here can enjoy everything from a private ¼-acre park to a pool and fitness center, to the stunning lobby that greets you as soon as you walk in the building.

1100 n lake shore1100 N Lake Shore Dr, Unit 40B
Original list price: $4.299 million
Sold price: $3.2 million
Its location on North Lake Shore Drive gives this penthouse triplex unbeatable lake and city views. This 8,000 square foot unit is on a full private floor with a rooftop deck. Inside you’ll find 4 bedrooms, polished porcelain floors, rosewood walls plus custom tile and millwork throughout. The spacious rooms were designed for family use and entertaining, with 4 wet bars, a huge living room/dining room media room with built-in humidor and a top floor solarium with seating and eating area.

130 n garland130 N Garland Ct, Unit 5603
Original list price: $3.299 million
Sold price: $3.06 million
On the corner of beautiful Millennium Park, this Chicago condo was a custom designed and decorated penthouse unit with wraparound views to the east, south and west. The 4,400 square feet of living space includes 3 bedrooms and 3 full baths, plus a large open kitchen and family room. Lux details like custom marble, hardwood floors, electric blinds and the best finishes make this a one-of-a-kind condo in downtown Chicago.

Between new construction and older, pre-war buildings like the East Lake Shore Drive co-op, last month’s sales were quite varied, which speaks to how the luxury real estate market in Chicago is going. New properties continue to move quickly, as many buyers are on the hunt for brand-new homes and there hasn’t been much being built in the last few years. But older buildings are having their day as well, with resales seeing quite a discount when comparing listing prices to sold prices. It ultimately comes down to what the buyers are looking for, and that will be different for everyone.

For more information on the Chicago condos that sold in June, or to see what’s on the market now, give me a call at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Excellent Sales for Luxury Chicago Condos in May

Luxury condo Sales in May matched the heat of the summer, with a total sales volume of $70 million. There were 43 luxury condos sold, ranging in price from $1 million to over $3 million.

One building was the star of May’s sales: Lincoln Park 2550. Of the five most expensive sales, this new construction building took the 3rd and 5th spots for the month. This was a project that was highly anticipated for a number of years, and the excitement has only gained momentum now that it is complete. It’s like no other building in the city, with a stunning, elegant lobby and a 1 ¼ acre private park right on the grounds. It’s also close to private schools and offers the same amount of space as a single-family home, making it ideal if you have a nanny or other assistants during the day to day.

I’ve said many times that the buildings that do well for resale are those that differentiate themselves from everything else on the market. Lincoln Park 2550 certainly does that to the nth degree.

While this building was certainly the showpiece of May’s luxury condos, there were a number of other noteworthy sales as well. Here’s a closer look at the top 5 most expensive condo sales, starting with the most expensive:

50-E-Chestnut-St-60611_unit-1801_Chicago_IL-114368350 E Chestnut St., Unit 1301
Original list price: $3.295 million
Sold price: $3.195 million
At the corner of Rush and Chestnut in Chicago’s Gold Coast, this is a full-floor residence spanning more than 3,800 square feet. This unit was the last of the developer’s units, featuring a private elevator foyer, floor-to-ceiling windows, two oversized terraces, highly upgraded finishers, Wolf/Subzero appliances, designer cabinets and counters, upgraded light fixtures, built-out closets and hardwood floors throughout. The home is also pre-wired for audio, video and Lutron lights throughout.

Chicago condos in Trump Tower401 N Wabash Ave., Unit 77D
Original list price: $$2.95 million
Sold price: $2,837,500
Trump Tower reigns again on our top sales list. This 3-bedroom unit sits on the 77th floor, allowing for unbelievable sweeping views of the city, lake and skyline. The 4 baths include an extra large master bath with double walk-in closets. A spacious living room opens up to the dining room, which follows the dramatic curve of the building, and a large kitchen includes Subzero, Viking, Wolf and Miele appliances with Snaidero cabinets. Residents of Trump Tower can enjoy all of the amenities of the building’s hotel, including room-service, in-room dining, valet parking, a state-of-the-art fitness center and spa and much more.

25502550 N Lakeview Ave., Unit D1-24
Original list price: $2.854 million
Sold price: $2.73 million
This unit is found in one of the finest buildings in Chicago luxury real estate: Lincoln Park 2550. With 4 bedrooms and 4.5 baths, the interior stretches more than 3,500 square feet with a 254 square foot terrace that boasts lake, park, pond and city views. The fully appointed cook’s kitchen includes a large breakfast bar, Italian cabinetry, and SubZero, Wolf and Miele appliances. The home also includes oak floors and floor-to-ceiling windows and a marble spa master bath. The building is beautiful, but full of conveniences and amenities as well, such as an indoor pool, fitness center, dog run and much more.

Residences at 900 Chicago77 E Walton St., Unit 23F
Original list price: $2.7 million
Sold price: $2.7 million
Just off of the Magnificent Mile, the Residences at 900 is one of Chicago’s best residential addresses in downtown Chicago. The building offers a private residential lobby on Walton, valet parking, huge storage and state-of-the-art technology. This 3-bedroom unit spans 3,400 square feet with floor-to-ceiling windows, fabulous views, 10-foot ceilings, 4” white oak floors throughout, a Snaidero kitchen and a lavish master bath.

25502550 N Lakeview Ave., Unit C6-30
Original list price: $2.791 million
Sold price: $2.66 million
Here it is again: Lincoln Park 2550. This unit is a 3 bedroom, 3.5 bath unit with 2,655 interior square feet and 188-square foot terrace that offers amazing lake, park and city views. The large master suite includes a walk-in closet and marble spa bath, while the kitchen boasts Italian cabinetry, luxury appliances and more. This is one of the hottest buildings in Chicago right now, in the heart of scenic Lincoln Park and with practically limitless features and amenities for its residents to enjoy.

To learn more about the Chicago condos that sold last month or to see what’s on the market now, contact me at (312) 498-5080.

Buyers Primarily Purchasing Luxury Chicago Condos with Cash

For the second consecutive month, cash buyers were the stars of the show when it came to luxury Chicago condo sales. Four out of the top five most expensive homes sold were bought with cash, something sellers should certainly take note of.

April’s condo sales are further evidence that downtown Chicago is where buyers want to be. And not just anywhere downtown—luxury buyers are still gunning for new or newer properties with ample square footage in buildings with loads of amenities to offer.

Buildings like the Ritz-Carlton Residences and Lincoln Park 2550 continue to make appearances on each month’s sales report. These buildings are moving because many high-end clients have realized the value of luxury real estate in Chicago compared to other parts of the country and the world. Here, the cost per square foot is relatively inexpensive—a maximum of $1,200—whereas upscale properties in New York or San Francisco are priced upwards of $3,000 per square foot.

Buyers are also drawn to condos with the space of a single-family home. Luxury condos with more than 3,000 square feet move quickly, as buyers don’t want to sacrifice space if they are moving from a house to a condo or into the city from the suburbs.

Each of the top 5 sales for April demonstrate these key features on today’s buyers’ wish lists. Here’s a detailed look at each sale, in descending order:

118 E Erie St, Unit 37J
Original list price: $4,333,200
Sold price: $3,901,700
The most expensive Chicago condo to sell in April was none other than a unit in the Ritz-Carlton Residences, a favorite among high-end buyers in the last year or so. And this property sold in just three days. This condo was partially finished, allowing the new resident to design certain aspects of the home to their liking. This 89-residence tower is in the heart of the Magnificent Mile, with the private Landmark Club that includes a grand salon, a staff chef, a staffed bar, wine storage, movie theatre, full-time staff and athletic and spa facilities.

2550 N Lakeview, Unit N1701
Original list price: $3.95 million
Sold price: $3.4 million
Lincoln Park 2550 continues to be one of luxury buyer’s favorite buildings this year. This Chicago condo in particular is a rare combination unit spanning more than 3,500 square feet. Breathtaking views of Lake Michigan, Lincoln Park and the city skyline can be enjoyed from inside or either of 2 balconies. The home is fitted with the latest technology, with high-tech upgrades and state-of-the-art systems. The building itself features a number of sought-after services and amenities, including a superb fitness center, a ¼-acre private park, and an outstanding lobby. Plus, this is one of the latest projects from famed Chicago architect Lucien Lagrange.

30 W Oak Street, Unit 8B
Original list price: $3.15 million
Sold price: $3.25 million
Spanning more than 3,300 square feet, this Gold Coast home is an immaculate 3 bedroom, 3.1 bath with 10-foot ceilings, floor-to-ceiling windows and custom stone floors. The kitchen has undergone major upgrades with Poggenpohl designs, Miele appliances, a butler’s pantry and organized storage. A spacious terrace off of the kitchen makes a great addition for entertaining. The master bath features built-ins, and organized walk-in closet and ultra-luxe master bath with an oversized shower, separate tub and double sinks.

229 E Lake Shore Dr East, Unit 6W
Original list price: $3 million
Sold price: $2.9 million
This Lake Shore Drive co-op unit has been renovated into a stunning, high-end property from end to end. With 4 bedrooms and 3.5 spa baths, this home boasts elegance in a luxury, full-service boutique building. Inside you’ll find breathtaking lake views, exquisite architectural detailing, a new DeGullio kitchen, new windows and three fireplaces.

415 E North Water St., Unit 802
Original list price: $2.8 million
Sold price: $2,805,000
In a highly coveted building, this rare Chicago condo in River View has been upgraded to the nines. This 4,705 square foot condo is flooded with sunlight and opens up to amazing city, river and lake views. Inside features a huge dining room with gorgeous built-it wine fridge, a master suite with an office/sitting area, 2 large organized closets and a luxury bath. The 3 bedrooms are large and each features its own private balcony, with 4 balconies in total.

As spring and summer arrive, it’s the perfect time to check out the Chicago condos in some of these great buildings. Many offer both private and shared outdoor space that can be truly appreciated after the city’s long winter! To learn more about these sales or any of the buildings featured in last month’s sales, contact me at ssalnick@dreamtown.com or (312) 498-5080.

Chicago is Becoming One of Two Hot U.S. Destinations for Purchasing Luxury Real Estate

When you own real estate around the globe, it’s fairly likely that at least one of those properties is in a posh market like New York, London or Hong Kong. But luxury real estate in these cities comes with a price. It’s not uncommon to find homes here in the neighborhood of $3,000 to $5,000 per square foot.

Chicago comes in stark contrast to this. Luxury properties here ring up in the range of $850 to $1200 per square foot—and that’s for the city’s most prestigious, upscale buildings. From vintage buildings like the Palmolive to newer units in Trump Tower and Lincoln Park 2550, these properties are packed with amazing services, amenities, and some of the best panoramic views in the city. I’ve had a number of foreign clients who pay cash for units in these buildings, simply because the cost of luxury real estate in Chicago makes it easier to do so.

Aside from the cost of luxury real estate, Chicago is a fantastic place to live or even to have a second home, especially for global executives, chairmen and frequent international travelers. A few reasons why include:

Travel convenience: Chicago’s two airports are easy to get to from the city, and the vast number of airlines make it easy to get a direct flight from Europe and/or Asia.

Culture: Chicago is an incredibly culturally rich city, from museums to music to dining, shopping and history. There is truly something for everyone and every interest to keep your weekends full.

Healthcare: Living in Chicago means you’ll have access to some of the best hospitals in the United States. Northwestern Memorial Hospital is nationally ranked in more than 12 specialties, and is especially known for its work in ophthalmology and rheumatology. Rush University Medical Center is also renowned for its cancer care, along with 10+ other adult specialties.

Business leadership: Mayor Rahm Emmanuel is a proven businessman who is especially keen on luring Silicon Valley-type business to Chicago. The city is home to booming companies like Groupon and GrubHub, not to mention many noteworthy start-ups as well as tenured companies.

Luxury lifestyle: Many Chicago condos in high-end buildings offer everything the busy executive might need, from in-home catering to event planning to housecleaning. The Ritz-Carlton Residences on Michigan Avenue boasts five-star service from its staff, which was trained by the best of the best: the Ritz-Carlton Hotel Company. Trump Tower, Lincoln Park 2520, and a number of other downtown Chicago condos offer similar services.

Privacy: Even in the center of an urban metropolis, privacy isn’t an issue in Chicago. The staff of many of these buildings are trained to handle situations with the utmost discretion and professionalism. And units themselves often have private elevators or are even a full-floor residence, ensuring that shared space is limited.

The Wall Street Journal recently highlighted Chicago as an up-and-coming “it” city for international home buyers. In fact, Chicago was marked only one of two U.S. cities mentioned. I always look forward to introducing new clients from all over the world to Chicago and all of the exciting things it has to offer.

To learn more about the Chicago luxury real estate market or some of the city’s high-end condo buildings, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.