February Closings for Luxury Chicago Condos Were All About Square Footage

Square footage is something I bring up with my clients a lot. Whether you’re moving into the city from the burbs, or are a recent empty nester, buyers are often drawn to the convenience of amenities, services and location of a Chicago downtown luxury condo—but they don’t want to sacrifice space and square footage to get it.

If this sounds like you, don’t despair—Chicago has a lot of great options for luxurious high-end condos with generous interior space. Send me your square footage requirements and I can provide you with photos and listings that fit the range you’re looking for.

February Chicago Condo Sales Offer Generous Space

I’ve typically said that buyers want at least 3,000 square feet in a Chicago condo, but recent sales are proving I may have underestimated. February sales show that clients really want a huge amount of space when purchasing a Chicago condo. In the top five sales from last month, the lowest square footage in the list clocked in at 3,200 square feet, and the largest space was a gargantuan 7,100 square feet. It’s safe to say that luxury buyers want bigger, newer and more luxurious.

That’s just what buyers got among the top condo sales last month, with 38 condos sold and a sales volume of $69 million. Let’s take a closer look at the top five closings, in descending order.

9 W Walton St9 W Walton St, Unit 3400
Original sales price: $9,912,500
Sold price: $9,912,500
There weren’t too many details available about this top sale for the month, but we do know it was a whopping 7,100 square feet of raw space. That means the buyer can make this 34th-floor home exactly what they want.

Chicago condos in Trump Tower401 N Wabash Ave, Unit 88A
Original list price: $9.5 million
Sold price: $7.7 million
A half-floor penthouse high on the 88th floor, this luxury condo in River North boasts the most luxurious panoramic views. Inside, you’ll find a truly great space for entertaining, with 16-foot ceilings, 3 fireplaces and a glamorous state-of-the-art kitchen with Miele, Bosch, Wolf, SubZero appliances. The Kohler master baths include large walk-in closets and a separate Jacuzzi room. Residents here can enjoy the five-star hotel amenities including a health club, spa, restaurant and room service.

800NMichigan800 N Michigan Ave, Unit 2501
Original list price: $3.1 million
Sold price: $2.9 million
Located in the iconic Park Tower Residences, this 3,200 square foot home is located on the building’s east side, offering sensational views from every room of Lake Michigan and the famous architecture that Chicago is known for. With 3 bedrooms and 2.5 baths, the condo was custom designed with architectural details and a floor plan that assures every room is elegant, comfortable and enjoyable. Features include hardwood floors, custom millwork, granite and marble throughout, living and dining spaces ideal for entertaining, designer kitchen appliances from Viking, Dacor, Euro Cave, SubZero and Bosch, custom cabinets, a built-in family room TV and a terrace. A premium parking space was also included with this sale.

445-e-north-water-st445 E North Water St, Unit 2401
Original list price: $2.7 million
Sold price: $2.2 million
This beautiful, full-amenity building is in the heart of Streeterville, boasting a state-of-the-art fitness center, indoor swimming pool, large party room and catering kitchen. This unit in particular spans 3,983 square feet on the 24th floor, with 3 bedrooms and a den and 3.5 baths. With a south corner exposure and dual balconies, this Chicago condo has exquisite views of the lake, river and city below. Inside, you’ll find a chef’s kitchen with granite countertops, a living area with double-sided fireplace, a beautiful ensuite master with custom walk-in closet and spa-like bath.

647 w melrose647 W Melrose St, Unit 1
Original list price: $2.299 million
Sold price: $2.199 million
A brand new construction building built on a 50-foot wide lot in East Lake View, these condos live better than a single-family home. This unit’s 4,600 square feet offers a width and breadth of real living and entertaining spaces that are hard to find. A keyed elevator entry opens directly into a large, elegant gallery. Throughout, you’ll find extraordinary finishes, 10-foot ceilings, a gorgeous chef’s kitchen, a separate mudroom, laundry room, and a fantastic lower level with radiant heat and a large family room. There is also outdoor space: A huge, private 26 x 15 foot yard and a 430-square foot covered terrace with a fireplace. And the location can’t be beat, as this home is within walking distance to schools, the park, Lake Michigan, shops and cafes.

For more on the homes that sold last month or to see what’s on the Chicago luxury condo market now, contact me at (312) 598-5080 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.

Unusual April Sales for Chicago Luxury Condos: 13 Sold Over $2 Million

My monthly recap of the top luxury real estate sales in Chicago include those properties that sold for more than $1 million, and most of them fall between there and $2 million, with perhaps a few that sold upwards of that. But this April was a bit unusual, with ultra-luxury units accounting for a large chunk of the top sales—13 out of 43 sales, in fact.

That’s considerably more $2 million-plus sales than we usually see in a given month, and I think it can be attributed to the low inventory in the Chicago luxury condo market. Buyers want to live in buildings that are newer, at prestigious addresses in great locations, and are willing to pay the price that comes with those features.

Another feature I see consistently among Chicago luxury condos that are selling is square footage. High-end buyers don’t want to sacrifice space for a move into a condominium, so those units which can offer 3,000 square feet or more tend to trade quickly. You’ll see that last month’s top sales were all more than 3,000 square feet in size, with the largest spanning a generous 4,300 square feet.

Search Chicago condos over 3,000 square feet

Here’s a closer look at the Chicago luxury condos that sold last month and the features that gave them the top price tags for April:

The Elysian Residences

11 E Walton St, Unit 3901
Original list price: $4 million
Sold price: $3.82 million
This 3 bedroom, 3.1 bath unit is high on the 33rd floor, this spanning more than 3,400 square feet. It’s location in the Gold Coast’s Waldorf Astoria means the new residents have access to a bevy of high-end building amenities, like 5-star concierge services, indoor pool, spa, fitness center and valet.

Park_Tower_060527

800 N Michigan Ave, Unit 2201
Original list price: $4 million
Sold price: $3.55 million
A wonderfully unique 3-bedroom unit in the famous Park Tower, this east-facing residence (translation: beautiful lake views) spans 4,083 square feet on the 22nd floor. The unit includes 6 balconies in total—more than any other unit in the building—and enviable features in every single room. The engry foyer includes a built-out, fully organized walk-in closet. The dining room includes a wet bar, wine cooler, bamboo and granite floors. The kitchen features custom cabinetry, professionally organized storage, concrete counters, top-of-the-line appliances, Thermador double oven, side-by-side Subzero refrigerators, built-in Miele coffeemaker and a Viking 6-burner range. The master suite boasts a grand dressing room with custom built-ins, walk-in closets, and a master bath with a custom Japanese soaking tub with lake views.

55eerie

55 E Erie St, Unit 3703
Original list price: $3.6 million
Sold price: $3.25 million
With spectacular north, east and south views of the city, this modern duplex has all of the must-haves for a luxury condo in Chicago. It has been highly upgraded throughout, with hardwood floors throughout, two balconies, designer lighting, cedar closet, powder room and storage. The gourmet, windowed kitchen includes Sub Zero, Miele and Viking appliances and a separate butler’s pantry. The upstairs level includes a master suite with fireplace, custom walk-in closet and a large, windowed spa bath with soaking tub and separate shower. All of that and more in a full-service luxury building with indoor pool, fitness center, steam room and sauna and dry cleaners.

401NWabash

401 N Wabash Ave, Unit 69E
Original list price: $4 million
Sold price: $3.1 million
Newly remodeled in Trump Tower, this 3 bedroom/4 bath condo boasts wraparound views from high on southeast corner of the 69th floor. Luxury features inside include motorized curtains in all rooms, home system, 10-foot ceilings, floor-to-ceiling windows, wood floors and a fireplace. The master suite has his-and-her walk-in closets, a luxurious master bath and a chef’s kitchen. The building’s exquisite 5-star amenities include 24-hour door staff, fitness center, indoor pool, room service, valet and more.

65 e monroe

65 E Monroe St, Unit 4101
Original list price: $2.95 million
Sold price: $2.95 million
This immaculately designed new construction condo in The Park Monroe is perched on the southeast corner of the 41st floor. The 4,000 square foot interior epitomizes luxury, with 10-foot floor-to-ceiling windows, stunning lake, skyline and park views, high-end appliances and more. The Park Monroe offers its residents a full suite of amenities, including a lap pool, gym, media room, Jacuzzi, party room and rooftop terrace.

No matter the month, there is clearly a few common denominators among the Chicago luxury condos that are drawing buyers quickly. For more information on these sales or to find out 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.

Amazing Chicago Luxury Penthouse Sells in September

September’s Chicago luxury condo sales were really filled with real estate eye candy, starring an ultra-luxury condo along East Lake Shore Drive. The ultra-luxury market in general was strong among condos last month, with 9 properties sold in excess of $2 million. The total sales volume for luxury condos in September was $74.5 million—not the highest month of the year, but certainly far from shabby given that the real estate market tends to dip in September.

As we head into fall, I encourage potential buyers to take a look at what’s moving on the Chicago real estate market. Learn about what features come with what price tag, and use that information to help determine your own expectations and budget for a new home.

With that, here are the top five luxury condos that sold in September, starting with that exquisite penthouse unit:

189189 E Lake Shore Dr, Unit PH18
Original list price: $13.5 million
Sold price: $10.375 million
The month’s most expensive condo sale in Chicago deserves a drumroll, as this may very well be the most magnificent penthouse in the city. On the beautiful East Lake Shore Drive, this 5-bedroom condo spans 7,662 square feet on the interior—and a whopping 3,000 square feet (yes—3,000 square feet) of private outdoor space on the outside. The terraces off of the Solarium showcase the most spectacular lake and city views. The dramatic interior includes oversized windows, extraordinary ceiling height, a 50 x 20 foot living room that spans the entire front of the apartment with faces Lake Michigan. A thoughtfully appointed chef’s kitchen makes it prime for entertaining. The price also includes parking for 5 cars—a true rarity in the city.

Chicago condos in Trump Tower401 N Wabash Ave, Unit 41A
Original list price: $4.25 million
Sold price: $4.1 million
The Trump name alone is practically a guarantee that this Chicago condo is packed with luxury, but this 4,000 square foot 3-bedroom unit takes it to the next level. The home has been highly upgraded and features 2 fireplaces, 10-foot floor-to-ceiling windows, Miele/SubZero/Worlf appliances, plus the opportunity to combine with an 1,100 square foot unit next door that would create a 5,100 square foot home with wraparound views. The building itself, is known for top-of-the-line service, like a world-class spa and gym, hotel amenities and five-star services like in-home catering and much more.

55eerie55 E Erie St, Unit 5202
Original list price: $3.995 million
Sold price: $3.85 million
Luxury living on the Magnificent Mile—this 4,165 square foot penthouse unit has been extensively upgraded so that the interior features match the breathtaking lake and city views offered in every room. The completely custom interior sounds like a wish list from the most discerning luxury buyer: A chef’s kitchen with custom Italian cabinets, wide-plank hardwood floors, a palatial master with 2 walk-ins and lavish bath, three private terraces, and much more. The building is full service with a 24-hour doorman, workout room and pool.

30WOakSt30 W Oak St, Unit 17B
Original list price: $3.85 million
Sold price: $3.65 million
Elegance is at the forefront of this one-of-a-kind, highly upgraded 3 bedroom condo in Chicago’s Gold Coast. Features include a customized floor plan that spans 3,349 square feet, 10-foot ceilings, an expansive wall of windows with south and west views and a 24 x 12-foot terrace perfect for framing sunsets. A recently added bonus family room is just off the chef’s kitchen, which features Poggenpohl cabinets, Miele appliances, SubZero refrigerators and a built-in Miele coffeemaker. The lavish master bath showcases top finishes in custom built-ins and marble baths.

50-E-Chestnut-St-60611_unit-1801_Chicago_IL-114368350 E Chestnut, Unit 2301
Original list price: $3.75 million
Sold price: $3.55 million
Striking cityscape views from each room is the pièce de résistance for this Gold Coast luxury condo, thanks to its occupation of the entire 23rd floor. The 4,000 square foot layout is perfect for entertaining, with corner views and terrace access from the living room and a home theater in the family room. An expansive master suite includes an office, walk-in closet and two baths.

For additional details or photos on the properties that sold last month, or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Chicago Luxury Condo Sales in May Particularly Strong

The summer selling season is moving along extremely well, with sales of Chicago luxury condos hitting a real high last month. In May, 52 units sold for a total of $82.5 million, compared to $69 million in sales during the month prior.

Four out of the top five most expensive sales were in buildings that are always on the top of my list of recommendations for luxury buyers. These buildings all differentiate from the norm, with units that offer 3,000+ square feet and services and amenities that take luxury living to the next level. Each of these buildings are also extremely walkable, with shopping, dining, entertainment and more all within a close distance.

And while these building share many luxury features, they each stand on their own as well. I encourage you to give me a call to discuss the various nuances and amenities that differ from these luxury buildings and see them first-hand. That is by far the best way to understand why these Chicago condos are consistently on the top of the sales lists and why the most discriminating buyers choose them.

In the meantime, here are a few details on those top five most expensive condos to sell in Chicago last month:

Chicago real estate at Park Tower 800 Michigan Avenue800 N Michigan Ave, Unit 8008
Original list price: $3.79 million
Sold price: $3.5 million
Park Tower is an icon along Michigan Avenue, not to mention in the city of Chicago. It’s no mystery why it earned two of the top five units sold last month. This 4,200 square foot r-bedroom is on the building’s 56th floor, allowing for soaring views of the lake, city and dreamy sunsets. Features include loads of storage, huge walk-in closets in the master bedroom, a spacious balcony off of the kitchen and two included garage spaces. Residents of Park Tower can take advantage of all of the luxe hotel amenities offered by the neighboring Park Hyatt.

aquatower225 N Columbus Dr, Unit 8032
Original list price: $3.9 million
Sold price: $3.3 million
The south, east and north exposures of this 78th floor 3-bedroom condo equate to 360-degree views from inside and from multiple wrap-around balconies. The Aqua building is a gem on Chicago’s architectural map, designed by Jeanne Gang in the city’s East Lakeshore neighborhood. Designer-inspired finishes are found throughout this unit, with Gaggenau and SubZero appliances, Snaidero cabinets, controls for audio, lighting and window treatments.

Chicago real estate at Park Tower 800 Michigan Avenue800 N Michigan Ave, Unit 4401
Original list price: $3.2 million
Sold price: $3 million
Another stunner in the iconic Park Tower. This 3,200 square foot, 3-bedroom unit is on the premier “01” tier of the building, on the 44th floor boasting spectacular lake views from every room. Details inside include beautiful millwork with built-in bookcases, wide-plank walnut hardwood floors, a gracious floorplan and a large familiy room that opens up to a terrace.

65 e monroe65 East Monroe St, Unit 4601
Original list price: $2.84 million
Sold price: $2.95 million
This exceptional penthouse was recently designed and built to epitomize luxury real estate in Chicago. Perched high in a southeast corner of the 46th floor, this 4,000 square foot condo captures stunning views of Michigan Avenue, Monroe Harbor, Millennium Park and much more through 10-foot floor-to-ceiling windows. The building itself—The Park Monroe—includes amenities like a lap pool, gym, media room, outdoor Jacuzzi, party room and rooftop terrace.

Chicago condos in Trump Tower401 N Wabash Ave, Unit 53A
Original list price: $3.29 million
Sold price: $2.775 million
This upgraded “A-tier” unit in Trump Tower spans just over 3,000 square feet with 3 bedrooms, 3.5 baths and unbeatable north and east views of the Chicago River and Lake Michigan. Details throughout this unit include a Snaidero kitchen, Miele, Wolf and SubZero appliances, dark Brazilian hardwood floors and three fireplaces, PLUS upgrades like motorized window treatments, a glass wine room, custom storage and state-of-the-art lighting and sound system. The building itself is known for the luxury lifestyle it offers to residents, with a world-class health club and spa, five-star hotel amenities and attentive service from the curb all the way up to your front door.

These buildings, among a few others, are truly the cream of the crop for luxury real estate in Chicago. If you’re in the market for a new condo, I definitely recommend checking these out and would be happy to give you a personal tour. Contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Luxury Condos in Chicago Continue to Sell Well in April

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

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

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

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

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

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

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

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

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

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

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.

Consider Ceiling Heights for Chicago Luxury Homes and Condos

Next time you check out a Chicago home for sale, look up.

Like what you see? The height of a property’s ceilings is increasingly important to buyers, whether they are shopping for a single-family home or a luxury condo. How tall the ceilings—even a difference of just a few feet—can have a substantial impact on how open or dramatic the space is.

Whereas 8 feet is the standard height for a ceiling, and 9 feet used to be considered a high ceiling, 10 feet is the new must-have height for a luxury property. It’s something a number of my clients are interested in these days, and when visiting a property in person, they can really feel the difference between a standard and a high ceiling.

A high ceiling like this one in Chicago’s Trump Tower creates a more open space and allows architectural details and great views to stand out. Via Houzz/KIS Interior Design

High ceilings allow for more space for tall windows, which lets in more natural light and brings certain elegance to the space. A tall ceiling also allows for architectural details that can enhance a space: a dome at the top of the foyer, a coffered ceiling in the dining room or parlor or a vaulted ceiling in the living room.

When I’m working with a client building a new Chicago luxury home, I actually recommend 10-foot high ceilings as a minimum. If the budget allows, I say go even higher than that. And if the possibilities are truly unlimited, I’d recommend considering a vaulted ceiling or adding other architectural details to add that understated sophistication to the home.

High Ceilings in Chicago Luxury Condos

There are a number of newer condo buildings in Chicago with 10-foot ceilings as a standard. That height allows for some magnificent views with floor-to-ceiling windows. The space from the added height and the huge windows are the perfect combination for a gracious living space.

Trump Tower at 401 N. Wabash is one of my favorites. The views from this building are made that much sweeter thanks to 10 foot, floor-to-ceiling windows. Each room in one of these Chicago condos is open and elegant, thanks to the extra vertical space. Another favorite is 30 West Oak, which also boasts 10-foot ceilings in each unit and floor to ceiling glass to take in the panorama of the city.

I would be happy to take you to some of these buildings to demonstrate the nuances that come with different layouts for Chicago luxury properties. Ceiling heights is a big one, and you’ll see for yourself the difference between 8 feet, 9 feet, 10 feet or even higher and the impact that height has on the home. The Chicago condo buildings with higher ceilings certainly differentiate themselves from the rest, and its not wonder that units in these buildings are moving more quickly than others.

If you’re in the market for a Chicago luxury home, give me a call to see what’s on the market now and what may be best fit for your situation. Contact me at (312) 498-5080 or 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.