As the winter months continue on, so do luxury condo sales in Chicago. In December, the city saw $89 million in sales of luxury condos (those sold for more than $1 million). While the last month of the year is often pretty slow for real estate, this one was a bit out of the ordinary. Not only was there a healthy number of $1 million-plus sales, 15 of those sales were over $2 million, of the top five most expensive luxury condos sold, sales were from $3.5 million to $6 million.
The takeaway? Large square footage, new construction, a neighborhood like Lincoln Park and bonus features for parking for more than one car can come with a hefty price tag, and those willing to ante up the large amount of money needed to get there can find themselves in a property among the likes of the top sales, such as a duplex unit with spectacular city views right in heart of Lincoln Park. Which is precisely what we saw with the most expensive property sold: a raw penthouse in Lincoln Park 2550 with a whopping 8,167 square feet.
One of the reason luxury buyers love Lincoln Park is, of course, the location. Many of my clients are looking for a neighborhood rather than downtown, and Lincoln Park is the best of both worlds. With easy access to downtown via car or public transit, it’s also right near parks, great schools, and offers access to the harbor if they own a boat.
Top December Sales of Luxury Condos in Chicago
A Chicago condo’s location certainly plays a large role in its sale price, but each property sold last month has its own long list of features and amenities that make it a must-have among luxury buyers. Here is a more detailed look at the top five sales last month and what each had to offer:
2550 N Lakeview Ave, Unit S3801
Original list price: $6.989 million
Sold price: $6 million
This is a familiar address for our top luxury condo sales every month—Lincoln Park 2550. This duplex penthouse unit stretches more than 8,100 square feet of raw space across the top 38th and 39th floors. Built by Chicago architect Lucien Lagrange, this building has been high on the wish lists of buyers as the quintessential residence for those searching for the very best in luxury living. Lincoln Park 2550 offers killer views, 5-star amenities and services, an exquisite lobby and interior design and much more.
435 W Deming Pl, Unit 435
Original list price: $4,999,999
Sold price: $4,999,999
A brand-new townhome in Lincoln Park, this 5 bedroom, 4.2 bath property sold even before the listing made it to the MLS. That typically means details are scarce, but some features include four stories, two basement bedrooms, a large kitchen and more.
132 E Delaware Pl, Unit 6302
Original list price: $6.4 million
Sold price: $4.25 million
Designed by Juan Pablo Molyneaux and architect Marvin Herman, this 7,000 square foot duplex oozes luxury perched high atop the Four Seasons Hotel. Features inside include incredible lake and city views, fine custom finishes, limestone floors, a grand staircase between two levels, library, second-floor gallery, 2,000-bottle wine cellar, home theatre and more. Residents in the building can also take advantage of the amenities and services offered at the Four Seasons.
77 E Walton Pl, Unit 27A
Original list price: $3.9 million
Sold price: $3.6 million
A location on the 27th floor of rarely-available Residences at 900 means this downtown Chicago condo enjoys stunning views of the city and lake below. With more than 4,300 square feet, this unit is one of the A-tier floor plans, with 3 bedrooms, 3.1 baths and a bevy of covetable features such as floor-to-ceiling windows, 4-inch white oak hardwood floors, surround sound throughout, 10-foor ceilings and top-of-the-line kitchen appliances. A sumptuous master suite includes a colossal walk-in closet and luxurious bath with jetted tub, dual vanities and a separate shower.
431 W Deming Pl, Unit 431
Original list price: $3.5 million
Sold price: $3.5 million
Another sold-before-print townhome in Lincoln Park, with 5 bedrooms and 4.2 baths. This stretch of Deming is a highly sought-after location in Lincoln Park, as it’s right next to Lincoln Park with the zoo, conservatory, North Pond and more. It’s also near great restaurants, shopping and a quick car or bus ride into downtown.
For more details 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 [email protected]