Not unlike single-family home sales, luxury Chicago condos sales for June brought in some impressive numbers: 49 properties sold for a total sales volume of $85.5 million. Luxury Chicago condos are those priced $1 million or higher, but 11 of the units that closed in June actually sold for more than $2 million, with the highest priced property (a co-op) going for a whopping $7.4 million.
Here’s a closer look at the top 5 most expensive properties sold on the Chicago luxury condo market last month, in descending order:
209 E Lake Shore Dr. Unit 11-E
Original list price: $7.9 million
Sold price: $7.4 million
One of the pricier sales we’ve seen among luxury real estate in Chicago the last several months, this co-op was noted as one of the most beautiful and elegant apartments in the city. The building was built in 1920, but this home was completely custom renovated by the design team of Gregga and Herman, using the finest materials and finishes to give it the details that take it to the next level. The East Lake Shore Drive address is not only a highly sought-after location, but offers residents unparalleled lake views from the 11th floor.
This unit was a co-op, which many of the buildings along East Lake Shore Drive are. But the truly noteworthy part is that this unit sold for cash in just 19 days. Luxury co-ops typically do not sell as fast as condos because there is much more involved—potential buyers must go before a board to provide all of their financials up front. Buyers coming from cities like New York or San Francisco are often clients who appreciate pre-war buildings and units that are hardly cookie-cutter, so finding an out-of-town buyer often doesn’t happen quickly either. So the fact that this unit sold in just 19 days is truly remarkable.
2550 N Lakeview Ave, Unit C8-13
Original list price: $3.999 million
Sold price: $3.999 million
If you’ve been paying attention to recent sales of luxury condos in Chicago, you’re no strange to this building: Lincoln Park 2550. This is a stunning new construction building in the heart of one of the city’s best neighborhoods and parks, with amenities, services and more all at its residents fingertips. This 3-bedroom, 3.5 bath Lincoln Park condo is luxurious and roomy from the inside to out, from the 750+ square foot terrace to the high-end appliances in the kitchen to the marble spa bath in the master suite.
2550 N Lakeview Ave, Unit C8-12
Original list price: $3.854 million
Sold price: $3.795 million
Another Lincoln Park 2550 unit, this 3 bedroom, 3.5 bath spans 3,965 interior square feet, plus an additional 758 square feet on the terrace, which offers amazing southeast lake, park and city views. Inside is a fully appointed cooks kitchen with a large granite breakfast bar, Subzero, Wolf and Miele appliances and a gracious living room and dining room with oak floors and floor-to-ceiling windows. The large master suite features a walk-in closet and marble spa bath. Residents here can enjoy everything from a private ¼-acre park to a pool and fitness center, to the stunning lobby that greets you as soon as you walk in the building.
1100 N Lake Shore Dr, Unit 40B
Original list price: $4.299 million
Sold price: $3.2 million
Its location on North Lake Shore Drive gives this penthouse triplex unbeatable lake and city views. This 8,000 square foot unit is on a full private floor with a rooftop deck. Inside you’ll find 4 bedrooms, polished porcelain floors, rosewood walls plus custom tile and millwork throughout. The spacious rooms were designed for family use and entertaining, with 4 wet bars, a huge living room/dining room media room with built-in humidor and a top floor solarium with seating and eating area.
130 N Garland Ct, Unit 5603
Original list price: $3.299 million
Sold price: $3.06 million
On the corner of beautiful Millennium Park, this Chicago condo was a custom designed and decorated penthouse unit with wraparound views to the east, south and west. The 4,400 square feet of living space includes 3 bedrooms and 3 full baths, plus a large open kitchen and family room. Lux details like custom marble, hardwood floors, electric blinds and the best finishes make this a one-of-a-kind condo in downtown Chicago.
Between new construction and older, pre-war buildings like the East Lake Shore Drive co-op, last month’s sales were quite varied, which speaks to how the luxury real estate market in Chicago is going. New properties continue to move quickly, as many buyers are on the hunt for brand-new homes and there hasn’t been much being built in the last few years. But older buildings are having their day as well, with resales seeing quite a discount when comparing listing prices to sold prices. It ultimately comes down to what the buyers are looking for, and that will be different for everyone.
For more information on the Chicago condos that sold in June, or to see what’s on the market now, give me a call at (312) 498-5080 or email me at [email protected]