When I meet with a client looking to purchase a Chicago condo, a key part of our initial interview is to discuss their needs and wants when it comes to real estate. I most often find that clients are in search of specific locations, a minimum of 3,000 square feet of space, and amazing views. Views of the lake are especially important to clients coming to Chicago from other parts of the country—it’s often No. 1 on their lists (and I can’t say I blame them!).
That said, you’ll see that last month’s Chicago condo sales were all about those views. Each of the top five properties sold offer a spectacular view that would be sure to “wow” every guest. Another sought-after wow factor is the size of the unit. Four out of the top five properties have more than 3,000 square feet, with one boasting 4,180 square feet. That kind of square footage is almost as large as some houses in the ‘burbs.
February saw a total of 42 Chicago condos sold with a total volume of $61 million. Here’s a closer look at what sold, in descending order.
310 S Michigan Avenue
Original list price: $4.9 million
Sold price: $3.8 million
This penthouse unit spans a generous 4,180 square feet with 4 bedrooms, 4.2 baths and a vintage charm blended with breathtaking quality. This Chicago condo has paid incredible attention to detail with recessed lighting, high ceilings, extensive crown molding, high ceilings, sun-filled rooms and five fireplaces. A 1,700 square foot terrace lets you enjoy the outdoors in the heart of the city. This Chicago condo boasts the best style, quality and location a buyer could ask for. It’s also worth noting that this home appears to have sold for more than $1 million below the original asking price.
4 E Elm St, Unit 15S
Original list price: $3.7 million
Sold price: $3.665 million
One of the latest new construction opportunities among Chicago condos, 4 East Elm has nearly completely sold out. The building offers 35 sleek and modern half-floor residences, each with elevator entry and high-end finishes. Most units boast a least three exposures with lake and city views. The amenity offering is an ultimate urban oasis of luxury and privacy, with an outdoor pool, whirlpool, sun deck, fitness center, screening room and clubhouse lounge.
505 N Lake Shore Dr, Unit 6806
Original list price: $2.345 million
Sold price: $2.345 million
This exquisite penthouse in Lake Point Tower is the ultimate in luxury. With 3,650 square feet, 3 bedrooms and 180-degree premium views of the city, lake and shoreline. Inside, find custom built-ins, a gourmet kitchen with high-end appliances, a wet bar in the huge living room, a large dining room and an elegant master suite. The building includes a private 2.5-acre part with an outdoor pool, grills, lagoon with waterfall, 24-hour security, newly remodeled health club featuring fitness on demand, indoor pool and racquet ball court.
340 E Randolph St, Unit 3201
Original list price: $2.445 million
Sold price: $2.3 million
This 3 bedroom, 3.1 bath Chicago condo in 340 On The Park boasts unparalleled panoramic views of Lake Michigan, Millennium Park, Grant Park, Maggie Daley Park and Michigan Avenue. The 2,371 square foot unit has exposures on the south, east and north sides and has been professionally designed with $100k in upgrades, including a custom built-in with fireplace, grasscloth wallpaper, solar shades, wool drapes and wiring for sound. The open chef’s kitchen includes Snaidero cabinets, GE monogram appliances and quartz countertops. The luxurious master bedroom suite includes a walk-in closet and master bath with Dornbracht fixtures, spa tub, separate shower and double vanity. Details throughout include bamboo floors, 9-foot ceilings, floor-to-ceiling windows, plus two balconies and two additional ensuite bedrooms. The amenity floor in 340 On The Park includes an expansive fitness center, 75-foot indoor pool and winter garden.
179 E Lake Shore Drive, Unit 25W
Original list price: $2.2 million
Sold price: $2.2 million
A coveted co-op building on East Lake Shore Drive, this 3 bedroom, 3.1 bath sold before print. This 3,045 square foot unit is on the 25th floor, but details beyond that were sparse.
For potential buyers, I always recommend reviewing the prior month’s sales to get an idea for what kinds of properties are selling for what price. That intel will serve any buyer well when they are evaluating the market with their own wish list and budget.
For more information on what sold last month or to see what’s on the market now, contact me at (312) 498-5080 or email me at [email protected].