We’re well into a strong summer for Chicago luxury real estate sales, and the high-end condos that sold in June show it. The month saw $107 million in total sales volume for high-end ($1 million plus) condo sales, and 12 of those properties closed at a price of $2 million or more.
The most expensive Chicago condo sale in June was at the Waldorf Astoria. The property offers a whopping 4,000 square feet of interior space, and for the luxury buyer, it is all about the square footage. I’ve stressed this month after month as we report on the top properties sold in the Chicago luxury market—that buyers today want a minimum of 3,000 square feet in their new home.
New luxury developments have clearly taken note of this as well, as many new construction condo buildings offer “large living” in an urban space. New construction is again becoming hot with the Chicago buyer, as new properties (like 400 W Huron—more on that below) offer residents the sprawling space they’d find in a home in the suburbs, but with the location, amenities and convenience of city life.
But space and newness aren’t the only things the luxury buyer is willing to pay a premium for. Many are also after a great view, whether it’s of the cityscape, Lake Michigan, the skyline or better yet—all of the above.
Here’s a look at the top five most expensive properties that sold during that time:
11 E Walton St, Unit 3802
Original list price: $4.725 million
Sold price: $4.375 million
The 38th floor of the infamous Waldorf Astoria, this Chicago condo offers forever views and is an entertainer’s paradise. The 4,000 square feet offers huge interior rooms, including a separate living and dining room and a large den (plus two terraces!). The indulgent master suite boasts three walk-in closets, an expansive sleeping room with fireplace, private terrace and a master bath with all-natural stone, huge walk-in shower, luxury Jacuzzi tub, heated floors and two oversized vanities. Other details include 10-foot ceilings, marvelous custom finishes throughout and complete control for an audio/visual system. Residents of the Waldorf Astoria also live among the epitome of luxury amenities from the building’s hotel, including a state-of-the-art spa, exercise room, pool, in-room dining and a Michael Mina restaurant.
400 W Huron St, Unit 1502
Original list price: $3.95 million
Sold price: $3.95 million
The new construction building at 400 W Huron comes from the same developer as the beloved 30 West Oak. This 4,175 square feet unit is on the 15th floor and showcases groundbreaking contemporary design inside and out. Luxe features inside include 10-foot ceilings, Miele appliances, stone floors, expansive terraces and separate, enclosed 2- and 3-car garages. Amenities include a 24-hour doorman, fitness center, wine storage and dog run.
401 N Wabash Ave, Unit 85A
Original list price: $4.3 million
Sold price: $3.12 million
The 85th floor of 401 N Wabash predictably offers spectacular views, and this unit is no exception. Just over 3,000 square feet, this condo features the building’s signature curved glass and panoramic floor-to-ceiling windows. That means unobstructed views in every direction. Other luxury features of this Chicago condo include 11-foot ceilings in every room, three fireplaces, hardwood floors, a state-of-the-art kitchen with Miele, Sub-Zero and Wolf appliances, and a master bedroom with his-and-her closets and a spa-like bath.
180 E Pearson St, Unit 6205
Original list price: $3.29 million
Sold price: $3.1 million
Properties in the Water Tower Residences are rarely available, let alone an exquisite renovation like this one. Spanning 2,975 square feet on the 62nd floor, this Chicago condo has stunning views of the lake, Navy Pier and the city skyline. The designer chef’s kitchen features custom white cabinetry, the latest Wolf, Bosch and Sub-Zero appliances and a butler’s pantry and wet bar. You’ll also find state-of-the-art mechanicals that make this property truly upscale: Lutron lighting system, motorized shades, integrated lighting and an AV system. Residents here also enjoy amenities and 5-star services from the neighboring Ritz-Carlton Hotel.
400 W Huron St Unit 1201
Original list price: $3.1 million
Sold price: $3.1 million
Another property in newly developed 400 W Huron, this one a 3 bedroom, 3.1 bath with 4,091 square feet on the building’s 12th floor.
This monthly sales round-up paints a good picture for the prospective buyer as to what you can expect to find when you’re ready to get your own real estate search underway. Square footage, breathtaking views and newness all highly sought after, and therefore can come at a premium, especially when the market is hot. As an agent, I always work with my clients to ensure they understand the landscape of the current market, but also where they might be able to negotiate. The high-end real estate market is a nuanced one, but I am happy to talk more with you on what you can expect if you’re looking to make a purchase.
For more information on the Chicago condos that sold last month, or to see what’s on the market now, contact me at (312) 598-5080 or email me at [email protected].