Chicago's next luxury building, Lincoln Park 2520.
For those who have been on the fence to purchase a new downtown Chicago condo, now may be the ideal time. While several buildings downtown are still being built, new construction downtown projects in Chicago have slowed down considerably, and not much is in the window for the foreseeable future. According to an article in last week’s Chicago Tribune, Chicago condo sales in 2009 were so dismal that no condo developments are scheduled to become available beyond 2011. Within two years, those looking to buy a condo will only be able to shop Chicago condos up for resale. The decrease in supply could also mean that condo owners can expect to see an up tick in their resale value, remember they’ve seen decline in the past two years.
Securing a Chicago new construction condo isn’t yet impossible. Two buildings slated for 2011 are Lincoln Park 2520 and the Ritz-Carlton Residences on Michigan Avenue. Lincoln Park 2520 will be a 39-story luxury building overlooking Lincoln Park’s North Pond and offering sweeping views of Lake Michigan. Along with spacious floor plans for the individual units, Lincoln Park 2520 will offer its residents concierge services, a gym, and a private theatre. The 88-unit Ritz-Carlton Residences offer luxury one-bedroom condominiums up to 6,500-square-foot penthouses, all with the most superior architecture and design. A wine cellar, board room and state-of-the-art spa and health club are just a few of the amenities in the Ritz-Carlton Residences. If you’re itching to get into a new Chicago condo now, there are also several options for you to take advantage of this time to buy. Luxury residences available now include those in the Trump Tower, which puts you in the heart of downtown Chicago but with the ultimate privacy in one of the buildings 468 units. The Elysian boasts comfortable luxury living in the Gold Coast with world-class service. From in-room dining to the building’s spa and health club, the Elysian promises its residents the finest amenities, down to the smallest detail. Another option is a one, two, or three-bedroom condo at The Residences at 900 Michigan Ave. Within the building, you’ll find premier shopping as well as a fitness center, and each residence beautiful design, spectacular city views, and top technologies to control your home. Finally, a new luxury building at 50 East Chestnut puts you in the heart of the Gold Coast with the exclusivity you’ll only find here: with 34 full-floor residences, each resident has the ultimate privacy for Chicago real estate, not to mention a coveted location with exquisite building amenities. If you’d like to get into a Chicago condo while they are still available, contact agent Sheldon Salnick at (312) 498-5080 or by email at firstname.lastname@example.org.