With sales over $55 million during the month of May, luxury condos continue to move in the Chicago real estate market. Amazing deals and ample square footage seemed to be the keys to sales in May, helping to sell the five most expensive condominiums ranging from $2 million up to $5.2 million. Another thing luxury buyers seem to be looking for is new construction condos in Chicago. Three of the top 5 sales were brand-new construction units, and I’ve noticed that many condo buyers continue to gravitate toward either brand new buildings or those that were built within the last few years.
Here’s a closer look at the five most expensive condo sales in May, starting at the very top:
1340 N State Pkwy, Unit 2 Original list price: $6.7 million Sold price: $5.2 million The most expensive sale was in one of the most elegant, timeless and talked-about buildings in Chicago‾the original Playboy Mansion. With a whopping 7,874 square feet of interior space, this single-floor unit features 4 bedrooms, 5 bathrooms, and an attached terrace. The unit’s living room was once the mansion’s ballroom, featuring original paneling and soaring ceiling heights (not to mention a piece of history). Entertaining in this Chicago condo is a must with an oversized formal dining room and chef’s kitchen.
50 E Chestnut, Unit 801 Original list price: $2.79 million Sold price: $2,312,500 50 East Chestnut is one of Chicago’s most exclusive buildings, with just 34 full-floor residences and a premier location in the Gold Coast. Because this is a new construction unit, the buyer is able to customize the space to their liking. Each unit in 50 East Chestnut features a private elevator foyer, floor-to-ceiling windows with 270-degree views, two oversized terraces and an elegant design that fits in perfectly with the panache of the Gold Coast.
110 W Superior St, Unit PH-2701 Original list price: $2.45 million Sold price: $2.22 million A stunner among downtown Chicago condos. This spectacular duplex penthouse features ceiling heights of 23+ feet in the living area, plus impeccable attention to detail throughout the unit and the buyer’s ability to customize to their liking. This new construction 3-bedroom spans 2,820 square feet with an enormous roof terrace and hot tub. Superior 110 is a full-amenity boutique building, with 24-hour doorman, fitness center, business center, dog run and deeded parking spots.
225 N Columbus St, Unit 8001 Original list price: $2 million Sold price: $2 million Found in new construction building Aqua, this penthouse unit offers unbeatable views from the 80th floor. With a unique architecture that gives every residence its own balcony, Aqua is located in Chicago’s New East Side, a newer neighborhood that residents love for its proximity to downtown and the Loop, Millennium Park and Lake Michigan. This unit in particular boasts floor-to-ceiling windows, crown molding, marble finishes and top-name kitchen appliances. The building features a sundeck, three pools, hot tubs, a fitness center, and much more.
180 E Pearson St, Unit 7204 Original list price: $2.995 million Sold price: $1.95 million Taking more than one million dollars off of the original list price, the buyer of this penthouse in the Water Tower got a superb deal. On the 72nd floor, this unit features spectacular panoramic lake and city views, with custom mill work, flooring and fixtures throughout. A lavish master suite features his-and-hers baths, with several walk-in closets, and the huge eat-in gourmet kitchen includes top-of-the-line appliances and a wine cooler. The building offers full amenities and a premium location just off the Magnificent Mile.
As I say with each new month, it’s crucial for buyers to take a look at recent sales in Chicago real estate. Being armed with such information gives buyers an idea of what is available on the market and what price it’s selling for–as well as what type of deals might be possible. The market can be unpredictable, and I encourage buyers to have all of the information they can get before making a purchase. For more details on these or other Chicago condos that sold recently, contact me at (312) 498-5080 or email me at email@example.com.