Strong Luxury Chicago Condo Sales in June, with 13 Units Selling for Over $2 Million

We’re well into a strong summer for Chicago luxury real estate sales, and the high-end condos that sold in June show it. The month saw $107 million in total sales volume for high-end ($1 million plus) condo sales, and 12 of those properties closed at a price of $2 million or more.

The most expensive Chicago condo sale in June was at the Waldorf Astoria. The property offers a whopping 4,000 square feet of interior space, and for the luxury buyer, it is all about the square footage. I’ve stressed this month after month as we report on the top properties sold in the Chicago luxury market—that buyers today want a minimum of 3,000 square feet in their new home.
New luxury developments have clearly taken note of this as well, as many new construction condo buildings offer “large living” in an urban space. New construction is again becoming hot with the Chicago buyer, as new properties (like 400 W Huron—more on that below) offer residents the sprawling space they’d find in a home in the suburbs, but with the location, amenities and convenience of city life.

But space and newness aren’t the only things the luxury buyer is willing to pay a premium for. Many are also after a great view, whether it’s of the cityscape, Lake Michigan, the skyline or better yet—all of the above.

Here’s a look at the top five most expensive properties that sold during that time:

Waldorf Astoria Chicago11 E Walton St, Unit 3802
Original list price: $4.725 million
Sold price: $4.375 million
The 38th floor of the infamous Waldorf Astoria, this Chicago condo offers forever views and is an entertainer’s paradise. The 4,000 square feet offers huge interior rooms, including a separate living and dining room and a large den (plus two terraces!). The indulgent master suite boasts three walk-in closets, an expansive sleeping room with fireplace, private terrace and a master bath with all-natural stone, huge walk-in shower, luxury Jacuzzi tub, heated floors and two oversized vanities. Other details include 10-foot ceilings, marvelous custom finishes throughout and complete control for an audio/visual system. Residents of the Waldorf Astoria also live among the epitome of luxury amenities from the building’s hotel, including a state-of-the-art spa, exercise room, pool, in-room dining and a Michael Mina restaurant.

400-w-huron400 W Huron St, Unit 1502
Original list price: $3.95 million
Sold price: $3.95 million
The new construction building at 400 W Huron comes from the same developer as the beloved 30 West Oak. This 4,175 square feet unit is on the 15th floor and showcases groundbreaking contemporary design inside and out. Luxe features inside include 10-foot ceilings, Miele appliances, stone floors, expansive terraces and separate, enclosed 2- and 3-car garages. Amenities include a 24-hour doorman, fitness center, wine storage and dog run.

401NWabash401 N Wabash Ave, Unit 85A
Original list price: $4.3 million
Sold price: $3.12 million
The 85th floor of 401 N Wabash predictably offers spectacular views, and this unit is no exception. Just over 3,000 square feet, this condo features the building’s signature curved glass and panoramic floor-to-ceiling windows. That means unobstructed views in every direction. Other luxury features of this Chicago condo include 11-foot ceilings in every room, three fireplaces, hardwood floors, a state-of-the-art kitchen with Miele, Sub-Zero and Wolf appliances, and a master bedroom with his-and-her closets and a spa-like bath.

Water Tower Residences180 E Pearson St, Unit 6205
Original list price: $3.29 million
Sold price: $3.1 million
Properties in the Water Tower Residences are rarely available, let alone an exquisite renovation like this one. Spanning 2,975 square feet on the 62nd floor, this Chicago condo has stunning views of the lake, Navy Pier and the city skyline. The designer chef’s kitchen features custom white cabinetry, the latest Wolf, Bosch and Sub-Zero appliances and a butler’s pantry and wet bar. You’ll also find state-of-the-art mechanicals that make this property truly upscale: Lutron lighting system, motorized shades, integrated lighting and an AV system. Residents here also enjoy amenities and 5-star services from the neighboring Ritz-Carlton Hotel.

400-w-huron400 W Huron St Unit 1201
Original list price: $3.1 million
Sold price: $3.1 million
Another property in newly developed 400 W Huron, this one a 3 bedroom, 3.1 bath with 4,091 square feet on the building’s 12th floor.

This monthly sales round-up paints a good picture for the prospective buyer as to what you can expect to find when you’re ready to get your own real estate search underway. Square footage, breathtaking views and newness all highly sought after, and therefore can come at a premium, especially when the market is hot. As an agent, I always work with my clients to ensure they understand the landscape of the current market, but also where they might be able to negotiate. The high-end real estate market is a nuanced one, but I am happy to talk more with you on what you can expect if you’re looking to make a purchase.

For more information on the Chicago condos that sold last month, or to see what’s on the market now, contact me at (312) 598-5080 or email me at ssalnick@dreamtown.com.

East Lake Shore Drive Co-Op is February’s Most Expensive Luxury Real Estate Sale in Chicago

Similar to last month’s single-family luxury home sales, February was a quieter month for luxury Chicago condo sales. Twenty-six luxury units (those sold for more than $1 million) sold, for a total sales volume of just under $40 million.

Looking at the top five most expensive sales, there was certainly a mix of things happening with each one. For one, the types of properties vary greatly: a co-op, a vintage condo, two modern high rise units and a vintage high rise unit. The locations also varied: Several were located in the Gold Coast (by far one of the most sought-after neighborhoods for luxury buyers), one at the relatively new Lakeshore East neighborhood, and another on the prestigious East Lake Shore Drive. And, there was a mix of boutique buildings among full-amenity buildings, rather than the latter, which is what we’ve seen in more recent months.

Let’s take a closer look at the details of the top five Chicago luxury condo sales last month:

229 e-lake-shore-drive 229 E Lake Shore Dr, Unit 9E
Original list price:
$3.29 million
Sold price: $3.1 million
This sale was highly unusual in that it sold—for cash—two days after the property was re-listed by the original realtor. Co-op sales generally take a long time for a sale to close due to the number of approvals required.

The unit itself had plenty to offer. This magnificent East Lake Shore Drive co-op occupies an entire half-floor in this landmarked building (which was designed by Chicago architect Benjamin Marshall). Units in a building like this are rarely available—the entire building only has 20 units—particularly one like this on a high floor with enviable lake and city views. With 3,800 square feet, 4 bedrooms and 4.1 baths, the unit was recently renovated and customized for upscale modern living. That means gorgeous mill work and custom built-ins throughout; a bright kitchen with high-end appliances, a large wine fridge and butler’s pantry; a family/media room that overlooks the lake; a combined master suite with his-and-her baths; and an elegant dining room with silver leafed ceiling. Other details include new windows, sound wiring, zoned heating and air and laundry room.

11 E Walton St11 E Walton St, Unit 3301
Original list price:
$3.09 million
Sold price: $3.05 million
In this 3-bedroom unit at the Waldorf Astoria, all 3,436 square feet have been highly upgraded for luxury living in the Gold Coast. Inside, you’ll find a chef’s eat-in kitchen with Snaidero cabinets, Wolf, Bosch and Miele appliances and Porcelanosa floors. Other features include 5-inch walnut floors, east and west terraces and a master suite with fully customized closets. The Waldorf Astoria is a full amenity building that includes hotel amenities like room service and spa facilities.

1300NStatePkwy1300 N State Pkwy, Unit 903
Original list price:
$3.1 million
Sold price: $3 million
Apartments in the highly sought-after Ambassador building are rarely available, and that’s especially true for a spectacular unit like this one. Inside, a wide gallery leads to gracious-sized public rooms, all with double Windows. The living room includes a fireplace, hardwood floors, and crown moldings. Additional features include a formal dining room, butler’s pantry, eat-in kitchen/family room, and two private balconies. The Ambassador is a landmarked, boutique building in the Gold Coast with just 37 residences. Amenities include a doorman, rooftop terrace and party room, a shared landscaped terrace, gym, ½ basketball court and a dog run.

Aqua Tower at 225 N Columbus Drive in Chicago

225 N Columbus Dr, Unit 8105
Original list price:
$2.845 million
Sold price: $2.35 million
A 3-bedroom penthouse in the awe-inspiring Aqua building in Lakeshore East. This unit offers jaw-dropping views in every room. Perched on the northeast corner of the 81st floor, this Chicago condo was completely redesigned to consider every detail. Luxuries include 14-foot floor-to-ceiling Windows with motorized shakes, custom stone and millworker throughout, Subzero refrigerator, Wolf range and Miele dishwasher in the kitchen, and a huge master suite with generous walk-in closet. And several times a year, this condo offers the best seat in the house for enjoying fireworks at Navy Pier.

image20 E Cedar St, Unit 12C
Original list price:
$2.2 million
Sold price: $2.2 million
Also located in the Gold Coast, this 4,700 square foot duplex in an absolute gem in a vintage doorman building. With 5 bedrooms, 4 baths, it’s a great alternative to a single-family home, with great features like a dramatic living room with floor-to-ceiling Windows, 22-foot ceilings, wood burning fireplace and ornate detailed plaster ceiling. The space is idea for entertaining, thanks to a generously sized formal dining room, an eat-in kitchen, butler’s pantry and more. Not to mention, the location is unbeatable, just steps away from everything the Gold Coast has to offer, from shopping to restaurants and more.

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

September’s Highest Priced Luxury Condos Sold in Chicago’s 2 Most Exclusive Buildings

Each month we’re able to see any trends associated with the previous month’s top condo sales and gain some insight into what buyers are looking for. Sometimes it’s new construction, or proximity to great schools, or summer-worthy outdoor space. But there’s typically one thing we almost always see in the top luxury sales in Chicago real estate—the proverbial location, location, location.

Chicago had 29 luxury condo sales (those sold at $1 million or higher) totaling $47 million. The top 5 condos sold in Chicago in September are each located in downtown Chicago or very close to it. Being in the heart of everything the city has to offer—shopping, fine dining, museums, the theater and lots more—is a highly desired point for luxury buyers.

These buildings are also more than simply an address—two of the units sold are found in two of the city’s most exclusive buildings, Park Tower and 11 East Walton, formerly known as the Elysian Residences.

What makes these buildings so elite? Both were designed by the famous Chicago architect Lucien Lagrange. Both are in great locations, one right on Michigan Avenue and the other tucked away one block west. Each of these buildings has access to their adjoining luxury hotels, and can therefore have access to best-in-class concierge services, from a late-night meal brought to your home to access to the hotel pool.

I’ve also found that luxury buyers are looking for ample square footage, whether they’re shopping for a single-family home or a Chicago condo. The units in these buildings are also quite large, with 4,000+ square feet that helps it live more like a home than an apartment.

Top Luxury Chicago Condo Sales for September

Here’s a detailed look at the top 5 Chicago condos sold last month, in descending order.

Chicago real estate at Park Tower 800 Michigan Avenue800 N Michigan Ave, Unit 5501
Original list price: $4.9 million
Sold price: $4.1 million
The top sale for September is no surprise, as 800 N Michigan is an address closely associated with luxury living. “Pure perfection” describes this Michigan Avenue Chicago condo, perched on the 55th floor with 4,200 square feet and 3 bedrooms. This must-see unit comes with a long list of coveted luxury features: a grand entry, limestone floors, electronic blinds, 2 fireplaces, and an elegant master suite with an onyx shower. A gourmet kitchen has easy access to a large terrace, and the family room boasts a cove ceiling and wood paneling.

The Elysian Residences

11 E Walton St, Unit 3902
Original list price: $4.199 million
Sold price: $3.875 million
Formerly known as the Elysian Residences, this luxury residence is known for its elegance and its 5-star hotel amenities—such as dine-in room service, a concierge, 4,000 square-foot spa and indoor pool—from the adjacent Waldorf Astoria hotel. The unit itself spans 4,000 square feet, with 3 bedrooms and an exceptional floor plan for entertaining. All-important details include top-of-the-line finishes, commercial-grade appliances, custom closets, hardwood floors, 10-foot ceilings, and custom cabinetry, wall covers and window treatments.

50 E Chestnut St, Unit 1701
Original list price: $3.18 million
Sold price: $3.06 million
A premier Gold Coast location at the corner of Rush and Chestnut, this building was designed with just one residence per floor and only 34 units in the building. This Chicago condo was ready for occupancy or could be customized to the buyer’s liking. Luxury touches like floor-to-ceiling windows, a private elevator foyer, Snaidero or Brookhaven cabinetry and Wolf and Subzero appliances take this condo to the next level.

219 E Lake Shore Dr, Unit 2A
Original list price: $2,199,950
Sold price: $2,125,000
This vintage condo building is on one of the city’s most prestigious streets, overlooking Lake Michigan and East Lake Shore Drive. With 2 bedrooms and 2,435 square feet, this condo includes an elegant renovation with the finest details on the inside and two spacious outdoor private terraces on the outside. With just 27 units total, this Lake Shore Drive building is intimate and elegant.

180 E Pearson180 E Pearson St, Unit 7203
Original list price: $2.195 million
Sold price: $2.1 million
Available on a rarely available corner of the building, this top-floor condo boasts spectacular unobstructed views of Lake Michigan and Navy Pier. The unit also includes a wood paneled library that opens up to a spacious living room where the views are truly at their best. You’ll also find a formal dining room, master suite with huge bath and coveted closet space throughout. The building itself has a stunning brand-new lobby, and residents can enjoy all of the amenities of the Ritz-Carlton hotel, which is right next door.

Living downtown certainly doesn’t mean settling for “apartment life” to maintain access to all of the city’s offerings. The downtown Chicago condo market has much to offer in terms of space and amenities that provide residents with the features they’d find in a single-family home. To see what’s on the market now or learn more about the features of downtown condos, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Most Expensive Chicago Condos Sold in July Were All About the Square Footage

One might argue that the “downside” to condominium living is the lack of space, compared to what you might find in a single-family home in a residential neighborhood.

Many Chicago luxury condos defy that perspective easily, and the most expensive properties that sold in July are a great example. The most expensive sale last month had square footage that easily compares (or surpasses) that of a Chicago home, spanning 6,000 square feet high on the 45th floor.

The top 5 sales were found both in Lincoln Park at 2550 Lakeview and in the Near North/downtown Chicago area. Luxury condo buyers in Chicago are continuing to gravitate toward newer, statement-making buildings downtown, and those that can offer space of 3,500 square feet or more.

Here are the details of July’s top Chicago condo sales in descending order:

21 E Huron St, Unit 4501
Original list price: $6.9 million
Sold price: $6.5 million
As previously mentioned, this 6,000 square foot downtown Chicago condo was a true showstopper. The previous owners spared no expense in creating a full-floor penthouse residence with a renowned architect. The condo features 1,000-square-foot terraces and multiple balconies, topping it off with unobstructed views in every direction. Every finish inside was given special attention, featuring exotic woods, rare textiles, state-of-the-art electronics and automation and a 1,500-bottle wine cellar.

2550 N Lakeview Ave, Unit P7-15
Original list price: $5,198,000
Sold price: $5,144,850
Another penthouse with a generous 3,925 square feet of living space. This penthouse unit overlooks vistas of Lake Michigan, Lincoln Park and downtown Chicago, with a generous gallery opening up to wraparound southeast views. Featuring 3 bedrooms, a library, 1,045 square feet of outdoor space, a large master suite and oversized bath, formal dining room and an eat-in kitchen. Another point of prestige: the building was designed by famed Chicago architect Lucien Lagrange.

21 E Huron St, Unit 4601
Original list price: $$3.85 million
Sold price: $3.7 million
Another spectacular unit at 21 E Huron, this 5,300-square-foot penthouse takes up a full floor with unobstructed 360-degree views. The home includes a gorgeous master suite with three additional bedrooms, a large eat-in kitchen, adjacent family room, wine room two storage lockers and two wine cellars. This is also a full-amenity building, with everything from a door person to a park/playground, party room, exercise room and more.

2550 N Lakeview Ave, Unit D3-33
Original list price: $3.1 million
Sold price: $3.1 million
Another Lincoln Park beauty, this 3,600-square foot 4-bedroom includes nearly 300 square feet of outdoor space and extraordinary northeast vistas of Lincoln Park and Lake Michigan. The interior boasts 10.8’ ceilings, superior finishes and a large kitchen and butler’s pantry. With only 2 other units on the 33rd floor, this is a perfect home for a private, luxury lifestyle. The building itself offers residents everything they need, from a ¼-acre private park, a dog run, superb health club, indoor pool and more.

11 E Walton St, Unit 4901
Original list price: $3.5 million
Sold price: $3.1 million
Part of the Waldorf Astoria hotel (formerly the Elysian), this Chicago condo building is considered by some to be in the Gold Coast, but many also consider it the Near North or the Cathedral District. These are all sought-after neighborhoods, and this unit kicks it up a notch with spectacular skyline views from every room, high ceilings and sunrise and sunset balconies. The hotel amenities are at the fingertips of all residents, such as the world-class spa, in-home dining and catering, car service and a concierge.

It’s also interesting to note the assessment costs for these units, which range from a low of $1,400 up to $5,000-plus.

Lincoln Park condos and those in Chicago continue to be hot among luxury real estate buyers. If you’re in the market to make a purchase, I always recommend that you familiarize yourself with the recent sales of “like” properties—same neighborhood, budget, features, etc. that you’re looking for. Then you can see how your budget and expectations with what is actually on the market stacks up.

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