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.

Plenty of Chicago Luxury Condo Deals to be Had in January

Plenty of Chicago Luxury Condo Deals to be Had in January

When it comes to purchasing Chicago luxury real estate, there are a number of variables that can help a buyer get a great deal. One of those is as simple as a page on the calendar: specifically, January.

Obviously, January is one chilly month for Chicago, and the cold weather definitely plays a role in dropping the price of real estate so sellers can ensure it doesn’t sit on the market for the rest of winter. And right now, the possibilities of rising interest rates and inflation are right around the corner, motivating sellers even more. Sellers are in the best position when there is economic stability, so when questions about housing policy arise from the government, or there is talk of interest rates being made higher, many sellers believe that their best bet is just to get the property off their hands.

But it’s not just the season that plays into a buyer getting a great deal. Luxury buyers can also come out on top by looking at:

List price: More buyers are nervous about putting in a low-ball offer when purchasing a property, but some savvy buyers—especially those who have cash on hand—are not afraid to make an unusually low offer.

Cash on hand: When purchasing Chicago real estate anywhere from mid-November through February, cash is an especially important factor in a buyer getting a deal. Sellers don’t want to hold properties on the market and risk of a loan not going through, so knowing that a buyer plans to pay with cash eliminates that stress and gives the buyer an edge.

State of inventory: When real estate inventory is low and a seller still hasn’t sold their property in 3-4 months, it’s a sign that they’ve priced it too high and the market has “penalized” the seller accordingly. The result is often a better discount for the buyers.

Needless to say, January was a good month for the buyers of the top-priced Chicago condos. Here’s a detailed look at the units that sold during the month:

401NWabash401 N Wabash Ave, Unit 42A
Original list price: $4.3 million
Sold price: $4.05 million
The lucky buyer of this 3,948 square foot River North condo was able to get a deal on this home, purchasing it for all cash for more than $250,000 off the list price. With just under 4,000 square feet of opulent living space, the home boasts three bedrooms, separate media room and family room. A spacious foyer opens into a sundrenched, river-facing living room that looks out onto sweeping, unmatched views of Chicago from the floor-to-ceiling windows. This unite has been stylishly customized with new hardwood floors, custom lighting, built-ins and surround sound and exquisite finishes in the kitchen and baths. The generous master suite includes two enormous walk-in closets and lavish his-and-hers master baths.

4EastElm4 East Elm, Unit 10S
Original list price: $3.2 million
Sold price: $3.19 million
This Gold Coast condo is among the last few remaining in 4 East Elm, one of the city’s new construction buildings that received a warm welcome from high-end buyers in 2016. This three bedroom, 3.1 bath is on the 10th floor, spanning 3,486 square feet. The building offers 35 sleek, modern half-floor residences, each with elevator entry, high-end finishes and at least three exposures featuring expansive city and lake views from many. Amenities include an outdoor pool, whirlpool, sun deck, fitness center, screening room and clubhouse lounge.

800NMichigan800 N Michigan Ave, Unit 4302
Original list price: $3.025 million
Sold price: $2.9 million
This Park Tower home sold for a surprising $75,000 below list price. With 3,025 square feet, this home is the epitome of Chicago luxury living with a top-notch location, the amenities of the Park Hyatt Hotel, and all of the upscale details you could ask for. An open and light floorplan gives away to a living and dining room with large windows that face east and south for iconic lake and city views. A wide private terrace overlooks expansive views of Lake Michigan. The kitchen is quiet and efficient with high-end finishes, luxury appliances, Thermador six-burner stove and a center island with storage. The master bedroom is designed to be an absolute refuge, complete with an office, spa-like bath and enormous walk-in closet. The sale of this Chicago condo also included two parking spaces.

30WOak30 W Oak St, Unit 19B
Original list price: $2.9 million
Sold price: $2.875 million
Spanning just over 3,000 square feet, this 19th floor 2 bedroom has been highly upgraded. Not to mention, 30 W. Oak is an award-winning, architecturally significant building with less than 45 units in total, making this one of the most sought-after luxury buildings. A gracious, open floorplan features floor-to-ceiling windows that look out to panoramic views from every room; you’ll also find a designer Poliform kitchen, and an oversized master suite with a glamorous dressing room that feels like a private boutique. Amenities in the building include on-site management, phenomenal door staff and a state-of-the-art exercise room.

1500 N Lake Shore Dr1500 N Lake Shore Dr, Unit 17C
Original list price: $3.49 million
Sold price: $2.775 million
This classic 1920s co-op on the famous Lake Shore Drive has extraordinary views, a generous floorplan and boasts thoughtful design throughout. The building itself has a historic design with a gym, parking and convenient location—and units in this building are rarely available, let alone one on a high floor. This property in particular has a whopping 4,100 square feet of living space on the 17th floor, complete with four large bedrooms with ensuite baths, a grand east-facing entertaining space and a spacious kitchen.

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

Square Footage was Key for Chicago Condo Luxury Sales in August

When my clients are looking at purchasing a Chicago luxury condo, they generally aren’t looking to sacrifice space. In other cities, condo living might indicate downsizing, small-space urban living, but Chicago has a great offering of buildings that feature the same amount of space you’d find in a single-family home, often with coveted amenities and services on top of it.

If they have the budget, I always recommend my clients look for a Chicago condo with at least 3,000 square feet. That seems to be the minimum square footage that a luxury buyer wants, whether they are a family with children, empty nesters, or other. And if you look at last month’s top luxury condo sales, the square footage number definitely holds up among the top five most expensive sales.

The top five condos sold have square footage ranging from just a hair under 3,000 square feet, all the way up to 5,143 square feet. All of them are also found in some of the city’s most popular buildings, noted for their prestige and coveted locations in Near North and the Gold Coast.

Finding out what sets one Chicago condo building apart from the rest is an important part of the research process if you’re looking to buy. If you’re considering a purchase, contact me at (312) 498-5080 for input on some of the unique features you’ll find among these buildings that will help you narrow down which is best for you and your family. Or, take a look below at the details for each of the top five condos sold in August (starting with the most expensive sale):

21-e-huron-st21 E Huron St, Unit 4801
Original list price: $5.5 million
Sold price: $4.5 million
This full-floor, top-floor penthouse is absolutely spectacular—and with 5,143 square feet and unobstructed, 360-degree views, this one certainly earned its way to the top sales spot in August. A private elevator opens up into this unit, which was recently renovated to include custom millwork, custom lighting, a 700-bottle wine cellar and a master suite with enormous walk-in closets and luxe bath. An enormous terrace and balcony provides coveted outdoor space. Other features include a state-of-the-art HEOS sound system by Denon, a security system and two penthouse parking spaces. The Lucien Lagrange-designed building is also full-amenity, offering a fitness center and spa, a sundeck, an indoor pool and Jacuzzi, a business center, private theatre and wine cellar.

800NMichigan800 N Michigan Ave, Unit 5301
Original list price: $5 million
Sold price: $4.4 million
Park Tower is one of the most iconic buildings in Chicago, with an unbeatable location right on the Magnificent Mile. This 4,200-square foot unit is high on the 53rd floor, allowing for stunning views; it was also recently remodeled with the finest finishes to create an impeccable home for modern living.

4EastElm4 E Elm, Unit 225
Original list price: $4.1 million
Sold price: $4.1 million
The new construction condos in 4 East Elm have been no stranger to the top luxury sales over the last few months—the building is now over 80% sold. This 3,516 square foot unit is one of just 35 modern, sophisticated half-floor residences in the building, each with elevator entry, high-end finishes and at least three exposures, many with expansive city and lake views. Amenities include an outdoor pool, whirlpool, sun deck, fitness center, screening room and clubhouse lounge.

50echestnut50 E Chestnut, Unit 1701
Original list price: $3.75 million
Sold price: $3 million
This full-floor Chicago condo in the Gold Coast stretches a generous 4,000 square feet, with 3 bedrooms and 3.1 baths. The building is sleek and contemporary, with breathtaking views in all directions. This unit in particular boasts an open floor plan that allows for spectacular vistas through floor-to-ceiling windows, with Lake Michigan to the east and the iconic Chicago skyline to the south. Private terraces on the east and west sides allow for intimate outdoor space to take in the view. The full-service building includes a top-floor fitness center, a landscaped garden, a sun deck and dark run. Residents of 50 East Chestnut are just steps from everything the Gold Coast neighborhood has to offer, including cultural institutions, world-class shopping, dining, Lake Michigan and the Magnificent Mile.

77-e-walton77 E Walton Pl, Unit 25D
Original list price: $2.65 million
Sold price: $2.52 million
This 3 bedroom, 2,940 square foot condo is a rarely available “D” tier floor plan at a sought-after luxury building in the Gold Coast. With beautiful views from the 25th floor, this unit features spectacular finishes, floor-to-ceiling windows, 10-foot ceilings and hardwood floors throughout. The Snaidero kitchen has two dishwashers and two refrigerators, and the master suite includes a lavish spa bath.

For more information on Chicago’s luxury condo buildings or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Chicago New Construction Condo Sales Back In Force In May

Chicago’s Gold Coast were at the top of the list for condos sold in May; and one particular standout building was the brand new building at 4 East Elm. Total Chicago luxury condo sales in May were $88.5 million with 53 luxury condos sold.

Three out of the top five most expensive condos sold last month are in this new construction building, and each boost around 3,500 square feet of space. I have been noting for some time that 3,000+ square feet seems to be the magic number in terms of the space that luxury condo buyers are looking for.

Search Chicago condos with 3,000+ square feet

All five of the top luxury condos sold in were above 3,000 square feet, proving that upscale condo living in the heart of the city doesn’t mean sacrificing the space you might get in the ‘burbs. The most expensive home to sell in May was in 800 Michigan Avenue, with the unbelievable square footage of 6,240 square feet—that’s the size of a large home, all on one floor of one of downtown’s most iconic buildings.

For a limited time, I am offering $2,500 at closing for buyers who begin and end their home search with me. This is a great opportunity to have a little influx of cash to help with moving or decorating expenses. I encourage you to read a bit more about me in my bio, then contact me to see if I can help you get started on a search for your new Chicago home.

Here are additional details on the most expensive Chicago luxury condos to sell in May, starting with the most expensive:

800NMichigan800 N Michigan Ave, Unit 5101
Original list price:
$5.1 million
Sold price: $4.5 million
The crown jewel of May’s luxury condo sales was a 6 bedroom, 5.1 bath condo in the iconic Park Tower on Michigan Avenue. This unit spans a whopping 6,240 square feet and was priced well below market value for the building. The unit boasts an open floor plan that allows for entertaining above breathtaking, unobstructed, 360-degree lake views that can also be enjoyed from two 8 X 14 foot balconies. And residents of Park Tower have access to all of the amenities of the adjacent 5-star Park Hyatt Hotel.

image4 E Elm St, Unit 16S
Original list price:
$3.8 million
Sold price: $3,987,391
The mots expensive home to sell in 4 East Elm in May, this 3 bedroom, 3.1 bath condo spans 3,486 square feet on the 16th floor of the Gold Coast’s hottest new construction building. Four East Elm is home to just 35 Chicago condos in the heart of one of the city’s most beloved upscale neighborhoods. The building is sleek and modern with half- and full-floor residences and offer residents a bevy of amenities, including garage parking, 24-hour doorman, an outdoor pool and spa, a screening room and fitness center.

image4 E Elm St, Unit 17S
Original list price:
$3.9 million
Sold price: $3.9 million
The second most expensive sale in 4 East Elm in May, this 3 bedroom, 3.1 bath unit is high on the 17th floor and spans 3,486 square feet. If May condo sales are any indication, this Gold Coast condo building is already proving to be one of the most sought-after properties for luxury buyers in 2016. Each unit offers 10-foot ceilings and floor-to-ceiling Windows that emphasize the spacious, open interiors, with finishes that include Florense cabinetry, fully-integrated Sub-Zero Wolf and Miele appliances and wide plank solid white oak flooring.

401NWabash401 N Wabash Ave, Unit 29A
Original list price:
$3.5 million
Sold price: $3.5 million
Designed by John Robert Wiltgen, this downtown Chicago condo lives up to all of the luxe expectations you’d have for Trump Tower. Boasting 3,487 square feet two bedrooms, 4 baths plus a media room and den, the unit has been totally customized for luxury living. The living room has Trump Tower’s signature curved shape that allows for a panoramic skyline view of the river, lake and Navy Pier. Other features include 11-foot ceilings, spa-like master baths, a master bedroom with generous walk-in closets, gourmet kitchen with Wolf appliances and a SubZero refrigerator. Trump Tower has a great location in River North and is a full amenity building with health club and spa, pool, restaurant and bar.

image4 E Elm St, Unit 14S
Original list price:
$3.475 million
Sold price: $3,483,229
This new construction condo in 4 East Elm Is a 3 bedroom, 3.1 bath on the 14th floor. With 3,516 square feet, the unit boasts high-end finishes with at least 3 exposures in a building that is the ultimate urban oasis of luxury and privacy—amenities include an outdoor pool, sun deck, fitness center, screening room and clubhouse lounge.

Looking at recent sales of luxury condos can help prospective buyers understand what is popular on the market and at what price. Buyers can use that information to determine their own budget and wish list of features they would like to find in their own home.

If you’re interested in additional details on these sales, or what to see what’s available on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Record Sales for December Chicago Luxury Condos

Luxury real estate does it again—despite the winter weather (which typically means a home-buying slowdown), sales for high-end condos were particularly strong in December.

Sales of Chicago condos especially had a good showing. Not only was there a total of 53 units sold, for the first time in a long time, there were a healthy number of properties that sold over the $2 million mark. In fact, 15 condos sold last month had a selling price more than $2 million, and that price tag ran all the way up to the most expensive sale at $3.6 million.

Chicago Condos Offer Space, Lure Cash Buyers

It’s no surprise that all five of the top luxury sales had an excess of 3,000 square feet–we’ve continued to see this nearly every month. Square footage is more important than ever to luxury buyers, especially as many opt to move into the city from the suburbs and don’t want to compromise space. Many of the city’s condos offer just that–plenty of room for living, but with all of the conveniences of services and amenities.

Here is a closer look at the top five properties that sold last month:

21 E Huron St21 E Huron St, Unit PH4801
Original list price:
$4.5 million
Sold price: $3.6 million
This penthouse unit sits atop The Pinnacle, a 49-story, Lucien Lagrange-designed luxury condo building in River North. An elevator opens right into this 5,180-square-foot unit, with an interior that boasts unobstructed views through floor-to-ceiling windows. You’ll also find a spectacular master bedroom, 3 additional bedroom suites, a large eat-in kitchen, a wine cellar and included parking. The Pinnacle is a full-service, amenity building with a health club, indoor pool, sundeck, entertainment suite, private theater and business center.

Trump Tower Chicago real estate

401 N Wabash
Original list price:
$3.4 million
Sold price: $3.15 million
Trump does it again, this time high on the 74th floor with an immaculately designed 3 bedroom unit. Views to the north, east and west showcase the Chicago river and city below through floor-to-ceiling windows. All 3,100 square feet of the Chicago condo are graciously appointed, from the two fireplaces to the high-end luxury stainless steel appliances in the kitchen. Living in Chicago’s Trump Tower also means living the Trump lifestyle, from the service of the building’s top-notch staff to taking advantage of amenities like the world-class health club and spa.

30WOakSt30 W Oak St, Unit 7B
Original list price:
$3.1999 million
Sold price: $3 million
This 3-bedroom Chicago condo is the epitome of Gold Coast living, with luxurious details, vast space and a contemporary design. Walls of windows along the 7th floor flood the unit with natural light. And room by room, you’ll find extraordinary spaces, from the expansive open kitchen, to the gracious outdoor patio and a spacious master suite.

Chicago real estate at 840 N Lake Shore Dr840 N Lake Shore Dr, Unit 401
Original list price:
$2.85 million
Sold price: $2.8 million
This Lake Shore Drive beauty enjoyed some time on the small screen, featured nationally on NBC’s real estate segment. Just under 4,000 square feet, the 3-bedroom unit is in one of the most iconic buildings on the iconic block. Although the building was built in 2004, this unit has never been lived in, now pristinely designed and with the option to purchase the adjacent unit and create a 6,000+ square foot home.

lp-25502550 N Lakeview Ave, Unit C6-29
Original list price:
$2.745 million
Sold price: $2.661 million
A 2,600-square foot 3 bedroom in one of Chicago’s most coveted new condo buildings, this unit features everything from great views to outdoor space to a kitchen made for entertaining. High on the 29th floor, this Chicago condo showcases southeast views of Lake Michigan, Lincoln Park and the city skyline through floor-to-ceiling windows. A large master suite features a walk-in closet and marble spa bath, while the cooks’ kitchen includes a large granite breakfast bar, Italian cabinetry, luxury appliances and much more. The building offers some of the finest amenities in Chicago luxury real estate, including an indoor pool, fitness center and private park.

One other noteworthy trend among last month’s sales was that four out of the top five properties sold were purchased with cash. We’ve mentioned over the last few months that lenders are making it more and more enticing for wealthy buyers to take out a jumbo mortgage rather than liquidating assets or spending their savings. But it seems that last month’s luxury home buyers were subscribing to the old adage that “cash is king,” as it often is in real estate.

If you’re in the market for a new Chicago, these trends are important to take note of. That way, you’ll go into your own home-buying search knowing what size home you can expect for your budget, if you may have to compete against cash buyers or what buildings many buyers are gravitating toward for luxury condos. For more information on last month’s sales, or to take a look at current Chicago condo listings, 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.

Bring Fluffy: Pet-Friendly Chicago Condo Available for Lease in Trump Tower

It’s everything you can imagine in luxury living: a five-star staff, breathtaking views, a coveted location, and better yet–the ability to share it all with your four-legged friend.

A luxury condo is available for lease in Chicago’s Trump Tower, one of the city’s finest high-end buildings. It’s also pet-friendly for a potential tenant with a small dog. Life in Trump Tower is as good for a pup as it is for the residents. The building has a private dog run where Fluffy can get as much exercise as he needs. The service from the Trump staff can help check on in him during the day or care for him while you’re out of town. And the walkable neighborhood makes it easy to bring him along on a jaunt around the block.

Of course, there’s much more to love about this available unit. Trump’s signature views can be enjoyed from the living space and bedroom, peering out onto the city and lake from the 64th floor. Here are the details:

  • 401 N. Wabash Ave #64C (in Chicago’s River North neighborhood)
  • 1 bedroom, 1.5 bath unit
  • Dark hardwood floors throughout
  • High-end finishes, including granite kitchen countertops
  • Luxury kitchen appliances like a SubZero refrigerator and Wolf stove
  • Washer/dryer in unit
  • Custom built-out closet

Being a resident at Trump Tower also puts you on the front line to enjoy all of the services and amenities the building has to offer. A Michelin-rated restaurant, a world-renowned spa and health club and around-the-clock room service from a top-notch staff are all right at your fingertips. Those who live in Trump Tower are elite guests, each and every day.

This is a rare opportunity for you (and Fluffy!) to live in one of the city’s most enviable buildings. Luxury real estate in Chicago continues to move, and this unit is perfect place for someone who wants to be close to downtown for work and play and indulge in the Trump Tower lifestyle. To check out this unit in person–the views alone are a must-see–contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

7 Most Expensive Chicago Condos to Sell in May Define Luxury

Luxury is a word we hear often in Chicago real estate, but what is the true meaning when it comes to what goes into a home? Defined as “something that provides comfort, pleasure, or enjoyment but is not absolutely essential,” luxury in real estate is created by the features that make a home more than just walls and a roof. It is a property that considers every detail from top to bottom, fits in with your lifestyle and is built with big and small conveniences that enrich your daily life.

In Chicago, one of the major distinctions for luxury real estate is the price. Those high-end details, features and amenities can come with a home priced as little as $2 million. In other major cities like San Francisco, New York City, London, Paris or Hong Kong, what you’d find for that price wouldn’t even compare to the luxury lifestyle that comes with some of Chicago’s finest condo buildings. Properties in these coveted, full-service, full-amenity buildings can cost as little as $1,200 a square foot–in other major cities, you’d be looking at a price tag as high as $3,000 a square foot all the way up to $5,000 a square foot.

Top 7 Condos Sold in May
Looking at the condos that sold in May, the top seven of the 35 condos sold all help to define what luxury real estate means in Chicago. They are in buildings with all of the sought-after amenities, and each unit comes with its own details and features that make it stand out. And the top 7 are all found relatively in the downtown area, putting them in the heart of activity that a city like Chicago has to offer.

Here’s a closer look at those top seven sales in ascending order:

340 E Randolph St., Unit 3901
Original list price: $2.1 million
Sold price: $2 million
This condo beautifully exhibits the importance of details. A breathtaking corner unit with spectacular views, this was designed by Wendell Gooch to harmonize state-of-the-art trends and the finest finishes and appliances. Floor-to-ceiling windows in the living room offer vistas of the city, Lake Michigan, and Millennium and Grant Parks. The building itself offers first-class amenities, including an indoor pool, large health club, winter garden and a 24-hour doorman.

201 W Grand Ave, Unit PH2
Original list price: $2.95 million
Sold price: $2.4 million
A penthouse property with forever views, this Condo includes exquisitely landscaped areas with mature landscape, waterfalls and Japanese garden influences found in 3,000 square feet of terrace spaces. The elevator opens into a foyer that overlooks the garden, waterfall and city. The harmony wasn’t limited to the outdoors, though–a home automation system controls sound, tv, window treatments, aroma, and security via touch pads throughout the home.

The Fordham Chicago25 E Superior St., Unit 11B
Original list price: $2.5 million
Sold price: $2 million
In the famous Fordham building, this custom-designed home spans more than 4,500 square feet with three bedrooms, 3.5 baths, a theatre, den, and dining room built into the exquisite floor plan. Additional features include a private 455-square-foot terrace, in-unit elevator, a private 2-car garage and full-floor master suite. A glass staircase acts as a spectacular centerpiece to the interior. The Fordham building includes a doorman, concierge, indoor pool, sun deck and wine cellar.

407 E North Water St.
Original list price: $2.9 million
Sold price: $2.75 million
Spanning four levels and 4,600 square feet, this townhome functions like a single-family property but with the conveniences of the renowned River View Condominiums. A private deck overlooks the river and lake, and an elevator, Lutron system, fireplace, hardwood, and walk-in closets punctuate the luxury lifestyle. In-building amenities include an indoor pool, exceptional health club, storage and door staff.

50 E Chestnut St., Unit 1401
Original list price: $2.95 million
Sold price: $2.775 million
In one of the luxury buyers’ favorite new construction buildings, this unit was just completed for its first buyer. The Chicago condo features a large master suite with two full bathrooms, a 300-square foot walk-in closet, upgraded kitchen, marble baths and two terraces. Top-of-the-line finishes like custom-stained rift sawn oak floors, wool carpet and Calcutta gold marble backsplashes are the little extras that set this unit apart.

Trump Tower Chicago401 N Wabash Ave., Unit 42A
Original list price: $2.975 million
Sold price: $2.925 million
This Trump Tower condo is located on the building’s North East curve, providing stunning views that top any other downtown property and even many other units in the building. Walls of windows look out onto Lake Michigan. The unit’s 4,000 square feet includes 3 bedrooms, a media room, a lavish master suite with his-and-her baths, amazing walk-in closets and walnut hardwood floors throughout. The building includes the finest Trump-style amenities and services, from room service to a world-renowned spa and health club.

1300 N State Pkwy, Unit 801
Original list price: $2.875 million
Sold price: $2.96 million
Found in the heart of the Gold Coast, this 4,000-square foot residence was recently renovated inside the historic Ambassador building. Having undergone detailed upgrades and renovations, this Chicago condo now features a brilliantly designed floor plan with a huge corner living room, formal dining room, large sunny kitchen and breakfast room, and 3 large bedrooms. Amenities include an owners’ penthouse lounge and terrace, a gym, sports court, and garden area.

Searching for a Chicago Luxury Home
When it comes to luxury real estate, it’s not just about the price, but what went into a property to take it above and beyond (and indeed, warrant a luxury price tag). I’ve worked with many luxury buyers, including CEOs and CFOs, and find that many of them are searching for those little details that go into a luxurious property and have very discriminating taste.

I pride myself on helping clients find homes that work with their needs and lifestyles. I can explain the nuances and details that differentiate one unit or home from the next and go over why these differences can affect both purchase price and resale value down the line.

If you’re on the hunt for a luxury property, let’s talk. Contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

‘Lifestyle’ Buildings Bolstering Chicago Luxury Real Estate Market

Trump Tower Downtown Chicago

Full-service buildings like River North's Trump Tower are what many buyers are looking for in the luxury real estate market.

Luxury real estate is alive and well in Chicago, bolstered by high-rise developments and full-service buildings, according to a recent report. Sales of ultra-luxury Chicago homes–those sold for $5 million or more–increased in 2012. Last year’s sales included several headline-making deals, like the record-breaking $15 million penthouse sold at the top of Michigan Avenue’s Park Tower.

The condo buildings getting the most attention are those in places like Trump Tower, the Ritz-Carlton Residences or 2550 Lakeview. That is, full-service buildings with everything from a doorman to valet parking to staff on call to cook you dinner, feed your pets or deliver your dry cleaning. These buildings aren’t just about service, but providing a luxury lifestyle for each and every resident.

Opened in 2008, River North’s Trump Tower has become one of the most coveted properties for the luxury buyer. This building boasts a state-of-the-art spa and fitness facility, an indoor pool (and the staff to bring your favorite cocktail to you poolside), enviable views thanks to sweeping architectural curves, plus concierge services at your beck and call. Trump Tower has quickly become one of downtown Chicago’s most sought-after luxury properties and is now 90% sold, so the number of available properties here is limited.

Trump Tower unit for lease

The stunning view from a for-lease unit available in Trump Tower.

Not quite ready to buy? A rare lease opportunity is now available at Trump Tower with all of the amenities and services the building offers, plus a great unit in itself, with spectacular views, great entertaining space, and parking. Plus, it’s pet friendly. Click here to check it out.

Lower Inventory in Chicago’s Top Neighborhoods

As the demand for luxury real estate in Chicago grows, the less we’ll see opportunities like the lease at Trump Tower, as sellers will have the edge in the luxury real estate market. Properties in coveted neighborhoods like Lincoln Park or the Gold Coast are going quickly (sometimes without even officially being listed), a clear sign that the market is becoming more competitive for the luxury buyer.

If you’re looking to purchase Chicago real estate, the window of opportunity may quickly be passing by in order for you as a buyer to negotiate a deal. To learn more about Trump Tower or other luxury “lifestyle” buildings in Chicago, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Pet-Friendly Luxury Condo in Downtown Chicago’s Trump Tower

Trump Tower Chicago luxury rentalIt’s the best of the best: A coveted location near work and play in downtown Chicago. A building with unmatched service and amenities. Some of the city’s most showstopping views. And a place for a four-legged friend to enjoy it all with.

A luxury Chicago condo is available for lease now in one of Chicaog’s finest buildings: Trump Tower. This 3 bedroom, 4 bath unit truly stands above the rest. A brand-new property that has never been lived in, this condo is located along the building’s southwest curves. Floor-to-ceiling windows let in stunning east, south and west views during day or night—and there’s nothing quite like being on the 83rd floor with the city glowing below:

Trump Tower luxury condo rental - night view

The view from this available Trump Tower unit on the building's 83rd floor.

Each room is fitted with electric shades that go up or down in unison with the push of a remote control. Worried about the summer sun on a high floor? Each of the unit’s bedrooms is fitted with blackout shades for ultimate flexibility.

This Trump Tower condo is available for lease now for $12,000 per month. Click here to see additional photos and the full listing. Additional features in this Chicago condo include:

-Pet-friendly atmosphere: The owner has OK’d a pet in this luxury condo rental, and the building itself offers over an acre of outdoor park space that includes a dog park.

-Parking: The unit also includes a parking space for one car on the 8th floor and an additional space right next to it for $300.

-Master suite: A large master bedroom includes an extra-large bath and double closets.

-Entertaining space: A large gourmet kitchen is ideal for entertaining, with an adjacent den or gathering space.

-Views: Sure, I already mentioned these, but they were worth another. There’s something about the combination of the quiet privacy of your own home with the sprawling, bustling city below.

Amenities, Service Make Trump a Way of Life

While the unit on its own is extraordinary, Trump Tower alone is the star of luxury living in downtown Chicago. Living here is a lifestyle, one that is experienced from the moment you pull up to the valet, to an appointment in the world-renowned spa, to being served lunch by Trump’s relaxing indoor pool. Residents here are more than residents, but elite guests who can be waited on around the clock if you so desire.

Chicago’s Trump Tower condos also feature a Michelin-rated restaurant, an outdoor terrace for dining al fresco, and a state-of-the-art fitness facility. The building staff can assist you with everything from packages to helping you prepare for special guests.

This is one of the city’s most sought-after buildings, and with summer around the corner, this is the perfect time to welcome beautiful-weather views into your new home. To check this unit out in person, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

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