The ultra-luxury market is alive and well this summer, with new construction properties popping up alongside some of the city’s most iconic, established buildings. In May, total sales volume was more than $100 million, with 8 Chicago condos closing at a sales price over $3 million.
The most expensive condo sold in May was in newcomer 9 W Walton, a new construction building in the Gold Coast that luxury buyers are eager to get into, thanks to a long list of thoughtful features and amenities that truly speak to modern upscale living. The top-priced sale went for more than $6 million.
Whether you’re looking for a luxury property or ultra-luxury, there are a few common themes we see among the priciest sales in the city. When I’m working with a condo buyer, I always recommend they consider buildings that are unique, architecturally significant or offer a great view (or better yet, all three!). These qualities are timeless when it comes to resale value, as is apparent each month when we review the latest Chicago condo sales. I also recommend that clients aim for at least 3,000 square feet in a condo, as this square footage is often the minimum that buyers are looking for when they move from the suburbs into the city.
For the luxury buyer, there’s clearly a set of features that set certain units apart. Let’s take a closer look at the unique characteristics of the top sales in May, starting with the most expensive:
9 W Walton
Original list price: $5.85 million
Sold price: $6.05 million
A new favorite building among luxury condo buyers, 9 W Walton offers residents expertly crafted interiors with custom-tailored floor plans, high ceilings and private, heated terraces. This 18th-floor unit stretches across 4 bedrooms and 5,270 square feet. The building itself boasts five-start services and amenities like a motor court with valet, indoor spa and pool, a two-story exercise studio, wine tasting room and private dining.
600 N Fairbanks Court
Original list price: $5.999 million
Sold price: $5.8 million
Billed as a rare and unique opportunity in modern luxury, this sublime duplex penthouse is in one of the city’s most celebrated modern towers, designed by world-famous architect Hemut Jahn. Spanning 6,200 square feet, this Chicago condo includes four bedrooms with an office, a huge living room with built-in bar, a stunning dining room with double-sided fireplace and a dream master suite with huge sitting earea, private terrace and dual closet. The great room opens up to a knock-out Ernestromeda kitchen with professional grade Wolf and Sub-Zero appliances. Panoramic views of Lake Michigan and the Chicago skyline are just outside 13-foot, floor-to-ceiling windows. Other features include a 400-bottle wine cellar, control for home automation, automated drapes and unmatched storage.
225 N Columbus Dr, Unit 8108
Original list price: $3.75 million
Sold price: $3.75 million
As the only 4-bedroom penthouse on Aqua’s exclusive top (81st) floor, this unit boasts stunning views through floor-to-ceiling windows. Details include beautiful crown molding, millwork, hardwood floors and 14-foot ceilings. In the kitchen, find Plain and Fancy cabinetry, Sub-Zero, Miele and Wolf appliances and a 13-foot island finished in Calacatta gold marble. The spacious master suite features a walk-in closet outfitted by Closet Works, a custom master bath with Calacatta gold countertops, mosaic marble shower and Airbath Jacuzzi tub. The Aqua building was designed by Jeanne Gang and has been recognized with multiple awards for its unique architecture and 5-star hotel amenities.
9 W Walton St, Unit 1501
Original list price: $3.55 million
Sold price: $3.55 million
This 15th floor unit is a 3-bedroom, 3,172 square foot Chicago condo in the city’s hottest new construction building.
2550 N Lakeview Ave, Unit S3203
Original list price: $3.625 million
Sold price: $3.55 million
This expansive 4-bedroom condo was professionally designed in Lucien Lagrange’s famed building in the heart of Lincoln Park. With a fantastic floor plan that lives more like a single-family home, this condo includes luxurious upgrades, ample room sizes and stunning park, lake and city views. It’s in immaculate condition throughout, from the gourmet kitchen (complete with Snaidero cabinetry, professional-grade appliances, breakfast bar and butler’s pantry) to the redesigned master suite with elaborate dressing room and spa-caliber master bath to the multiple terraces. The building’s premiere Lincoln Park location puts you right next to everything the neighborhood has to offer, plus in-building services and amenities like 24-hour door staff, indoor pool and spa, fitness center, billiards room, library, game room, movie theater, dog run, kids’ playground, lush gardens and more.
For more information on 9 W Walton or any of the Chicago condos that sold last month, contact me at (312) 498-5080 or email me at [email protected]