CHICAGO PENTHOUSES - TIPS FOR BUYING A LUXURY PENTHOUSE

Chicago Penthouses in a 3- or 4-Flat
Typical square footage: 1,300 to 1,600 square feet
Lot size: 25 x 125 feet
A three- or four-flat building typically offer the standard penthouse, and its usually the most expensive in the building. It might come with roof rights or a private roofdeck that can be accessed throught the penthouse or a common hallway.

Wide-lot 3- or 4-Flat
Typical square footage: 1,600 square feet
Typical lot size: 37.5 feet wide
A wide lot means more horizontal space. Condos—and penthouses—in these buildings feel bigger and typically have the highest resale value when compared to other types of Chicago condos. These units also often boast features like high ceilings and outdoor space.

6- to 8-Flat
Typical square footage: 1,600 to 1,800 square feet
Typical lot size: 50 feet x 125 feet
The position of a building like this allows for lavish space and often a private roof deck, making it one of the most coveted condo types. Penthouses in a 6- to 8-flat might expand the entire floor of a building. The expansive horizontal space in a penthouse often equals better resale value than properties located on the lower floors of the same building.

Duplex Penthouses
Typical square footage: 1,600 to 1,800 square feet
Typical lot size: 50 feet x 125 feet
There are a number of things that set duplex penthouses apart from the rest: dramatically high ceilings in the living space, a small private deck instead of a roof deck, etc. These condos are usually found in a 3-flat or 6-flat but may also be in wide-lot 8-flats as well.

Small Building Penthouses
In smaller buildings, the price range for penthouse units can vary. Masonry buildings, for example, tend to be more expensive than those built with block. Higher priced penthouses usually include ceilings of 9-plus feet, high-end millwork, brand-name appliances and hardwood floors throughout.

High-Rise Penthouses in Chicago
A penthouse unit in large, high-rise buildings are everything a luxury buyer wants. Ceilings at least 9 feet tall (though I would recommend 10-feet or higher), brand-name luxury appliances, generous square footage and coveted outdoor space. This type of condo usually has higher monthly assessments due to increased services and amenities. The units here are often ideal for showcasing artwork, thanks to tall ceilings and ample wall space; they are also the best way to get a spectacular panoramic view of the lake and city, since most high-rise penthouses offer incredible views of the city below.

READ MORE: Chicago Luxury Real Estate Resource Center

If you’re in the market for a Chicago penthouse condo, email me with your price range, neighborhood and other details of what you’re looking for and I’ll send over photos and a list of available units for you to check out.