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.

28 Luxury Chicago Condos Sold in September for a Total of $47 Million

Last month’s condo sales in Chicago continued to hold ground during summer’s end, with sales of luxury condos (those priced at $1 million or higher) totalling $47 million, with 28 units sold. A few things we continue to see among luxury condos include ample square footage, buildings with top-of-the-line amenities and new construction properties that allow buyers to custom-design their own home.

Chicago Condos in Lincoln Park, Downtown

Not surprisingly, the top five sales for September occurred in the most prestigious buildings in the city, located mostly downtown, but also including the brand new building at 2550 Lakeview.

2550 in Lincoln Park is a new construction building that boasts incredible views and by far, the most exquisite lobby of any other condo building in the city. It also has a gorgeous landscaped, private, ¼-acre park that’s been beautifully designed exclusively for the residents here. Plus, this neighborhood is only an easy 20-minute bus ride to downtown Chicago, making it conveniently located for both work and play.

I have no doubt that a tour of 2550 will properly show you the panache that it has to offer, and I’d be happy to take you through the building and see if you agree.

As for the other top luxury sales, four out of the five were concentrated in downtown Chicago. Living in the heart of the city means you can walk to just about anything–work, five-star dining, upscale shopping, entertainment and cultural hot spots, parks and more. Many downtown Chicago condos put you a quick walk away from the Magnificent Mile (Michigan Avenue), the city’s famed block for high-end shopping and one of the truly great places to “experience” Chicago.

Top Chicago Condo Sales in September

Here’s a better look at the five most expensive luxury condo sales during September in Chicago:

11 E Walton St Unit 4902
Original list price: $4.795 million
Sold price: $4.3 million
Another expansive Chicago condo, this one spanning just under 4,000 square feet. This half-floor residence will allow the buyer to custom-build their dream home perched atop the Waldorf Astoria, one of Chicago’s finest hotels. Lake views, sunrise and sunset terraces, spacious rooms, high ceilings and all services of the hotel are just a few perks of living at 11 E Walton in the Gold Coast.

840 N Lake Shore Dr Unit 1601
Original list price: $3.995 million
Sold price: $3.6 million
This Chicago condo lives more like a home in the ‘burbs, with a huge 4,350 square feet in the Gold Coast. Its 16th floor location offers stunning views of Navy Pier and Lake Michigan, and the building itself was designed in a Parisian style by Lucien Lagrange. The unit is split into guest and master wings, with a wide open dining and family room, 4 bedrooms and 4.5 baths. Not to mention, Lake Shore Drive is one of the city’s most sought-after addresses, as it is a street known for its prestigious real estate and elegant lifestyles.

900 N Michigan Avenue Unit 23A
Original list price: $2.975 million
Sold price: $2.975 million
The Residences at 900 are in the heart of some of the city’s main attractions and feature floor-to-ceiling windows with fabulous views to take it all in. This unit in particular features 10-foot ceilings, white oak floors, a lavish master bath and a generous 3,834 square feet–more than many single-family homes. The building has a private lobby and entrance for residents, valet parking, ample storage space and state-of-the-art technology throughout.

2550 N Lakeview Ave North Unit C7-25
Original list price: $2,505,990
Sold price: $2,505,990
Spanning a huge 3,030 square feet, this Chicago condo is comparable to the space found in a home in the suburbs. Including 217 square feet of outdoor space and 10’8” ceilings, this unit offers great views of the city skyline, Lake Michigan and Lincoln Park. Located in the aforementioned 2550 Lakeview, which features state-of-the-art mechanical systems, pet-friendly features like a paw wash and dog run, plus amenities designed to make everyday living luxurious, like a fitness center, indoor pool, sauna, steam room, rec room, club room and more.

1340 N State Pkwy, Unit 1S
Original list price: $2.575 million
Sold price: $2.45 million
This is a property that is truly one of a kind–located in the original Playboy mansion. This is the only unit in the building that leads out to the mansion’s garden and includes a private patio, beautiful architectural details and is elegantly appointed throughout.

Looking at recent sales for Chicago condos is a great way for buyers to get an idea of what’s on the market, especially if you’re interested in a certain amount of space, or having particular amenities. Recent sales can help paint a picture of what you can get at what price. For a more detailed list of September sales, 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 Totaled $35.965 Million in April

The Elysian Residences

The Elysian Residences at 11 E Walton accounted for the top 3 most expensive luxury condo sales in Chicago during April 2012.

The numbers are in for April’s luxury Chicago condo sales, and the report is in line with some of what I’ve personally been seeing on the market. Namely, four out of five of the most expensive properties were new construction, and I have certainly seen newer properties moving quickly on the market. Not to mention, the top three most expensive luxury condos were in the same building: 11 East Walton.

Another trend among the luxury condo sales in April are the final sale prices–most were about $100,000 to $150,000 off the list prices. Buyers are in a great position to close deals right now, as sellers are still eager to move their properties.

Top 5 Chicago Condos Sold

Total luxury condo sales–those sold for $1 million or more–for April totaled nearly $36 million, with the downtown area once again taking center stage among the properties sold. Let’s take a closer look at the features of the top five sales.

The top three Chicago condos sold were at The Elysian at 11 E Walton–though the hotel portion of the building is now known as the Waldorf Astoria. It’s no question what buyers see in this building, which was designed by Lucien Lagrange and quickly became one of the most prestigious places to live in Chicago. With 51 condos, residents here can enjoy 24-hour room service, a 14,000 square foot deluxe spa and all of the concierge services a luxury lifestyle could imagine, including all of the services provided by the adjoining hotel. Here’s a look at the units sold:

Unit PH56
Original list price: $6,350,000
Sold price: $5,950,000
This “vanilla box” full-floor Chicago condo is raw and ready for the owner’s customization, but in itself features 4 bedrooms, 6,000 square feet, 360-degree views, and soaring 20-foot windows in the living room.

Unit PH57
Original list price: $3,950,000
Sold price: $3,850,000
A full-floor penthouse with amazing 360-degree views of the city and lake and four outdoor spaces, this 4,500 square foot condo is another raw space ready for the buyer’s custom design.

Unit 3802
Original list price: $3,690,000
Sold price: $3,600,000
This three-bedroom, 4,000 square foot home boasts 180-degree lake and city views, two terraces, two fireplaces and 10-foot ceilings. Luxury custom improvements include fine finishes and cabinetry and a dramatic entry gallery.

The 4th and 5th most expensive sales were also found in or near downtown Chicago:

10 E Delaware Pl, Unit PHC2
Original list price: $2,449,900
Sold price: $2,305,000
A penthouse unit in the heart of the Gold Coast. With city and sky vistas, 24-hour doorman, rooftop heated pool, the elegant TEN Club, state-of-the-art fitness center, fine finishes and amenities make 10 E Delaware another coveted building among buyers looking for downtown condos.

415 E North Water St, Unit 604
Original list price: $2,299,900
Sold price: $2,200,000
More than 3,800 square feet of indoor living space and 3,000 square feet of outdoor space, this home lives more like a single-family home than a urban condominium. This three-bedroom unit is nestled along the lake and river, with beautiful views (a must among Chicago’s luxury condo buyers).

There are a number of great properties on the market now for luxury buyers to take a look at. To see what’s available or to take a closer look at last month’s sales, contact me at 312-264-5853 or email me at ssalnick@dreamtown.com