Summer weather brought the heat during the dog days of summer—and so did the Chicago luxury real estate market. The hottest building in the city was new construction darling 9 W Walton, which occupied 7 out of 10 of the most expensive sales for the month.
August is typically a slow month for real estate sales, as people are fitting in their end-of-summer trips and preparing for back to school. But this August saw phenomenal sales in the luxury sector, not just in volume but in dollar value as well. The month saw 20 condo sales that topped $2 million, charging all the way up to $6.3 million for the priciest sale for that time period.
The sales prices weren’t the only big numbers in August. The square footage for the units sold showed healthy numbers as well. I am finding that more and more buyers are looking for half-and full-floor units when they move into a Chicago condo, to compensate for large, single-family homes they left behond in the ‘burbs. Buyers are also coming to Chicago from many different parts of the country and can get far more space for their money compared to New York, San Francisco, Los Angeles or Toronto. So many buyers aren’t needing to sacrifice space based on their budget—if anything, they opt to go big.
I recommend buyers take a look at the recent closing prices of comparable properties to what they’ll be shopping for. Compare and contrast the square footage, features and building amenities to the price to get an idea of what your new home might trade for with the features you want. We’ll take a closer look at the top five most expensive Chicago condo sales in August.
The Gold Coast’s newest building, 9 W Walton, has been a welcome addition to the luxury real estate market for the last year or so. The impeccable attention to detail is apparent from the moment you pull into the old-world motor court and see the building’s stately, classic design that is at once timeless and modern. The Chicago condos in 9 W Walton range from 2 to 5 bedrooms, each unit with custom tailored floor plans, expansive private terraces and dramatic 10- to 12-foot ceilings.
Design details in each unit include Sub Zero, Wolf and LaCornue appliances, Victoria + Albert tubs, high-end hardwood flooring, custom-carved marble mantel over the fireplace, a built-in safe, custom crown moldings, oversized baseboards and a heated master bathroom floor.
As you can imagine, the list of services and amenities for residents at 9 W Walton is lengthy as well. A fully staffed lobby and valet, house car and driver, dry cleaning services and a full service maintenance team are a few benefits of luxury living in the building. There’s also an indoor lap pool, hot tub, steam room and sauna, a fully equipped fitness center with pilates and gyrotecnic machines, private wine storage, a large, private dining room, covered dog run and two guests suites available to residents.
Here’s a look at the highest price units to sell in 9 W Walton in August:
9 W Walton, Unit 2401
Original list price: $6.025 million
Sold price: $6,112,114
This 4 bedroom, 4.1 bath unit spans 5,230 square feet on the building’s 24th floor
9 W Walton, Unit 2502
Original list price: $5.9 million
Sold price: $6,293,311
A 4 bedroom, 4.1 bath unit spanning 4,776 square feet on the building’s 25th floor.
9 W Walton St, Unit 2701
Original list price: $5.75 million
Sold price: $5,811,388
This 3 bedroom, 4.1 bath unit spans 4,420 square feet on the building’s 27th floor.
9 W Walton St, Unit 2302
Original list price: $5.675 million
Sold price: $5,711,746
A 4,476 square foot, 4 bedroom, 4.1 bath condo on the 23rd floor.
The fifth most expensive sale during August was on the other side of Walton St, in another beloved Gold Coast building:
11 E Walton St, Unit 2902
Original list price: $5.6 million
Sold price: $5.5 million
Located in the prestigious Waldorf Astoria, this half-floor terrace home was impeccably customized with a great floor plan that includes 3 bedrooms, an office, incredible kitchen and family room, spacious formal living and dining spaces, and more. The eat-in chef’s kitchen includes every amenity imaginable, including double integrated Sub Zero refrigerators, a 6-burner Wolf range, double ovens and a large center island. The master suite boasts a dressing room to die for, a spa-caliber master bath with double vanities, soaking tub, separate shower and Kallista plumbing fixtures. Design details include custom built-ins and lighting, two fireplaces, and hand-scraped white oak floors imported from France. This home is ideal for entertaining, with a wet bar, butler’s pantry and full-home AV system, plus 1,500 square feet of terrace space that includes a dog run, TV, speakers and stellar lake views. Residents of 11 E Walton can enjoy all the amenities of the Waldorf Astoria hotel, including a pool/spa, fitness center, 24-hour door staff, concierge and in-home dining.
For more information on the Chicago condos 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].