March was good to Chicago real estate, with Chicago Magazine just declaring it an “awesome” month for the market. Chicago condo sales did their part with 35 luxury sales during the month, totaling $63.8 million for properties priced anywhere from $1 million up to over $4 million.
Most of the top sales that closed last month were brand new or relatively new construction properties. And each had that elusive location, location, location (four out of five in the downtown area) and one in the most exciting new construction property in the city, 2550 Lakeview.
Here are details for the top five most expensive Chicago condo sales during March, in ascending order.
118 E Erie, Unit 36E
Original list price: $2,856,125
Sold price: $2,850,000
The 40-story Ritz-Carlton Residences is one of the most magnificent buildings along the Magnificent Mile. This newer 2-bedroom unit spans 2,461 square feet and includes all of the amenities and service the building has to offer–a residence club, grand salon, spa, fitness center and available chef. The building is managed by the Ritz-Carlton Hotel Company, which is nearly a five-star guarantee for the best service in luxury living. The 86 units in the Ritz-Carlton Residences Chicago feature recessed balconies or terraces and 10-12 foot ceilings.
1448 N Lake Shore Drive, Unit 16AB
Original list price: $2.995 million
Sold price: $2.9 million
This newly renovated 4 bedroom co-op not only boasts a Lake Shore Drive address, but 60 feet of space facing Lake Michigan. The vintage residence’s 5,250 square feet has elegant formal rooms, a paneled library with wet bar, high-end kitchen with breakfast area, and four en suite baths. One of the biggest points of interest among luxury buyers is the fact that this property is just a short walk away from Latin School, one of the area’s most sought after schools.
2550 N Lakeview Ave, Unit C6-24
Original list price: $2,960,020
Sold price: $2,960,020
This 2,843 square foot 3-bedroom unit is in one of the city’s hottest new luxury buildings, 2550 Lakeview. Located in the heart of picturesque Lincoln Park, this building has swept the luxury Chicago real estate scene with everything from its architecture to the high-end benefits of being a resident here. The elegance of this building is apparent the moment you step into the grand lobby, and residents here have a 1.25-acre private park and garden, an indoor pool and hot tub, a catering kitchen and Club Lounge, private movie theater, game room and much more.
11 E Walton St, Unit 3601
Original list price: $4.199 million
Sold price: $3.875 million
An exquisite Chicago condo located in the Elysian in the Gold Coast, this 3-bedroom home spans an exquisite 4,000 square feet. With an exceptional floor plan for living and entertaining, the unit also features two valet parking space, top of the line finishes, 10-foot ceilings, 2 terraces, hardwood floors, custom closets, commercial grade appliances, custom wood and lacquer cabinetry, wall coverings and window treatments. Residents of the Elysian can enjoy the amenities from the five-star Waldorf Astoria Hotel, including dine-in room service, concierge, 4,000 square foot spa and indoor pool.
50 E Chestnut, Unit 601-701
Original list price: $4.9 million
Sold price: $4,053,109
The priciest sale in March was a new construction duplex in the Gold Coast, complete with a two-entire-floor layout and a private elevator. This exclusive building houses just 34 residences, each with floor-to-ceiling windows, two oversized terraces, Wolf/SubZero appliances, and elegantly appointed interiors.
Luxury buyers are certainly on the lookout for properties that set themselves apart from everything else on the market, whether its with a great location, a special building or amenities and services that you simply don’t find anywhere else. Looking at the previous month’s sales gives buyer an idea for what is moving on the market now, and at what price–information that is crucial to anyone on the hunt for their own new home.
To learn more about Chicago condo sales during March or to see what’s on the market now, contact me at (312) 498-5080 or email me at [email protected].