The September market is generally the start of the fall market for real estate in Chicago. Any potential buyers usually want to start their search for a new home so they can be moved in before winter weather moves in.
But this September didn’t quite show signs of that fall market moving in. Sales of Chicago condos last month were not nearly what would be expected for this time of year. Only 11 Chicago luxury condos—those sold for $1 million and higher—sold last month, with the highest sale peaking at $4.8 million. Total sales for the month were a mere $20 million.
Comparatively, August saw more than $90 million in luxury condo sales and July clocked in at close to $75 million. So September sales were significantly lower than recent months.
Here’s a look at the Chicago luxury condos that sold last month, starting with the most expensive sale:
65 E Goethe St, Unit 5E
Original list price: $4.95 million
Sold price: $4.8 million
This 3-bedroom unit spans 3,800 square feet in Chicago’s Gold Coast. 65 East Goethe is one of architect’s Lucien Lagrange’s masterpieces, with an eclectic architectural style on the exterior and large, airy units on the inside. This building is full of elegance and character, with 8 stories, a rooftop terrace garden, portal windows, French doors and Juliet balconies of hand-forged iron.
1040 N Lake Shore Dr, Unit 7A
Original list price: $2.685 million
Sold price: $2.575 million
Nestled on the coveted Lake Shore Drive, this 3-bedroom, 3,020 square foot Chicago condo was totally recently rehabbed, leaving flawless attention to detail. The interior was fitted with custom millwork, cased openings, 5-inch walnut floors, new windows throughout and an open floorplan to maximize views. The baths are built with Calacatta, Crema Marfil and Dakota stones, plus top-of-the-line appliances, integrated AV systems and a paneled alder wood library.
60 E Monroe, Unit 6201
Original list price: $2.035 million
Sold price: $2.02 million
THis 3-bedroom, 3.5 bath condo stretches more than 2,000s square feet in The Legacy at Millennium Park, one of the Chicago luxury market’s hottest buildings that continues to have a presence on each month’s sales report. The building offers 2, 3 and 4-bedroom condos with enviable views of the park, lake and city. Amenities for residents include a pool and steam room, 24-hour door service, fitness center and access to the University Club.
10 E Delaware Pl, Unit 14E
Original list price: $1.7999 million
Sold price: $1.78 million
10 E Delaware is one of the newest buildings available in the Gold Coast, and a favorite among luxury buyers. This condo in particular was a former model unit, with more than 2,000 square feet and upgrades like whole house audio, video, lighting, motorized shades, custom wall coverings, draperies and built-ins. You’ll also find the best of the best in the kitchen, with Poggenpohl cabinets and Subzero and Wolf appliances.
2608 N Lakeview Ave, Unit 9A
Original list price: $1,812,500 million
Sold price: $1,757,500
This rarely available unit in an upscale luxury building is an east-facing penthouse with a private elevator foyer. The gracious layout allows for sweeping park and skyline views, with a fabulous new kitchen and master bath. With three bedrooms and 4.5 baths, this Chicago condo spans more than 3,700 square feet.
With buildings that offer buyers the same square footage of a single-family home, plus the services and amenities that come with luxury condo living, Chicago condos are a covetable choice for those moving from the suburbs or who want to live in the heart of the city without a lot of maintenance. I encourage my clients who are considering a condo purchase to take a look at the units that sold last month to get a feel for what’s selling, for what price and what you might be able to expect for your own situation.
To see additional details on last month’s sales or to see what’s on the market now, contact me at (312) 498-5080 or email me at [email protected].