I’ve talked a lot about trends that we continue to see month to month in Chicago home sales–lot sizes, new construction, and noteworthy architecture are just a few of the common features found among the properties that are selling now.
When it comes to condo sales, I’m noticing a new commonality–the most expensive condo sales boast square footage that compares to a luxury single-family home. Buyers shopping for a luxury condo in Chicago want just that–a building that offers all of the services and amenities of an metropolitan luxury lifestyle, but a home inside that offers the space of anything but an urban apartment.
For a summer month like July (when luxury sales are typically slow), it’s interesting to see that 40 condos priced between $1 million and $6 million sold (including a $6.550 co-op sold on East Lake Shore Drive). In addition to a huge amount of living space, these top condos share great locations, both in terms of the neighborhood and the superb buildings they are found in–from the new construction building at 2550 Lakeview in Lincoln Park, to 800 Michigan Ave and 11 E Walton in the Gold Coast.
Here’s a closer look at the top five most expensive luxury Chicago condo sales in July:
209 E Lake Shore Dr, Unit 12E
Original list price: $7.25 million
Sold price: $6.55 million
East Lake Shore Drive is by far one of the most coveted addresses in Chicago. This breathtaking unit just underwent a 2½-year renovation by renowned Chicago architect Dirk Denison that was published in Metropolitan Home. The condo boasts five-star quality, with grand-scale living and dining rooms, incredible library, master suite with spa bath and huge closet, and state-of-the-art lighting and sound systems. Plus, its location on the 12th floor allows for highly-desirable views of Lake Michigan.
11 E Walton St, Unit 5400
Original list price: $6.5 million
Sold price: $6 million
This huge, 6,432-square foot condo inside The Elysian was one of the last “true” penthouses on the buildings top 5 floors, located on the full 54th floor. In addition to ample square footage, this Chicago condo has three huge terraces, unobstructed 360-degree views of the park, lake and city skyline, 3-car parking, high ceilings and more. The residence was partially finished, allowing the buyer to customize much of it to their specifications. The neighboring Waldorf Astoria hotel puts 5-star amenities close by, and offers residents concierge services that puts luxury service at one’s beck and call.
800 N Michigan Ave, Unit 2601
Original list price: $5.75 million
Sold price: $4.9 million
Some of the city’s finest offerings in luxury living are found at Park Tower, where residents can enjoy all of the 5-star services and amenities of the adjacent Park Hyatt Hotel. This condo features gorgeous lake and city views, a spacious floor plan of 5,239 square feet, a grand living room and dining room, media room, De Guilio gourmet kitchen and terrace, plus 3 large bedrooms that include an exquisite master suite.
2550 N Lakeview Ave, Unit C8-11
Original list price: $3.55 million
Sold price: $3,587,407
Located at 2550 Lakeview, the stunning new construction building going up in Lincoln Park, this Chicago condo is perched on the building’s southeast corner, with a generous floor plan spanning just under 4,000 square feet. Outside, the unit has a 750-square foot loggia plus two additional balconies. The building itself features a private 1.25-acre park, concierge, state-of-the-art fitness center, party room, theater, indoor pool and much more.
2550 N Lakeview Ave, Unit D4
Original list price: $3.138 million
Sold price: $3,260,046
Another sale at 2550 Lakeview, this unit spans 4,420 square feet on the inside and a generous 984 square feet of outdoor space on the outside. The building was designed by renowned Chicago architect Lucien Lagrange and has a private 1.25-acre park with impeccable landscape design. The outdoor balcony space overlooks the park, in addition to the unit’s 4 bedrooms and 4.5 baths.
There are a number of great properties on the market now for luxury buyers, but an insight into last month’s sales is a great way to see what you can get and and at what price. To see what’s available now or to take a closer look at last month’s sales, contact me at 312-264-5853 or email me at [email protected]