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.

Leave a Reply

Your email address will not be published. Required fields are marked *