If the real estate market was hot in 2013, then Chicago condos were on fire. Sales among luxury condos totaled $680 million. And of that number, nearly half of the sales volume came from just 15 buildings—clearly some of the most chic and coveted addresses in the city. So what is it that makes a select group of buildings so special? In the last year, it was clear that luxury buyers were gravitating toward particular features: New: The newer, the better. With new construction having slowed down in years prior, buyers were on the hunt for brand-new or almost brand-new properties, such as the Ritz-Carlton Residences or Lincoln Park 2550. Space: Living large—literally—was a key factor for condos sold in 2013. Properties that offered generous square footage (think 3,500 square feet up to 8,000) live more like a single-family home than a condominium, but come with all of the services and amenities these buildings have become known for. Views: A spectacular panorama is something that can your breath away, and high-floor units that offer city views or vistas of Lake Michigan are a buyers’ dream. Many luxury condos boast unbeatable views, and with additional perks like floor-to-ceiling windows, no obstructions, and outdoor space, taking it all in is all the more wonderful.
Popular Buildings Among Chicago Luxury Condos
If you’re in the market for a luxury Chicago condo, I highly recommend getting familiar with these 15 buildings. Check them out in person so you have the most up-to-date information as to what keeps the luxury real estate market buzzing in Chicago. The popularity of brand-new buildings last year can be seen here—the top four buildings are all new construction. Several of these buildings were also designed by famed Chicago architect Lucien Lagrange. And it’s interesting (though not surprising) to note that nearly all of these buildings are downtown with a close proximity to Michigan Avenue. The few exceptions are found in Lincoln Park and the Loop/South Loop. These were compiled from luxury sales ($1 million and up) that closed throughout the entire year of 2013, as shown in the Multiple Listing Service. Let’s take a closer look at the top 15 buildings with the greatest sales volume last year, in descending order:
The exquisite lobby at Lincoln Park 2550.
2550 N Lakeview Luxury condos sold in 2013: 22 For a total of: $50.1 million Lincoln Park 2550 was one of the city’s most anticipated new construction projects over the last few years. Bar none, it boasts the best lobby among condo buildings, drenched in elegance from the atrium to the mail room. The amenities available leave nothing to be desired, including a 1.25-acre private park, a dog run, a private fitness facility, club lounge with catering kitchen, private movie theater, a concierge and more. 60 E Monroe Luxury condos sold in 2013: 26 For a total of: $47.1 million The Legacy at Millennium Park puts residents steps away from everything Chicago has to offer. Nightlife, museums, shopping, parks and dining are right outside the front doors. With 72 stories, the condos here offer views of several downtown Chicago destinations. Residents can also enjoy the perks of the historic University Club next door, with access to its dining, guest rooms and fitness facilities. 401 N Wabash Luxury condos sold in 2013: 20 For a total of: $33.2 million Ah, Trump Tower. I’ve long said that this building isn’t merely an address in River North. It’s a lifestyle that only its residences can truly experience through the number of amenities and services offered here. Inside you’ll find a Michelin-rated restaurant, an internationally acclaimed spa, and top-notch service from the driveway all the way up to your home. Not to mention, Trump Tower condos offer stunning views and the entire building is tailored to the finest detail. 118 E Erie Luxury condos sold in 2013: 9 For a total of: $20.9 million Located in the heart of the Magnificent Mile, the Ritz-Carlton Residences was also an exciting addition to the Chicago condo market. Designed by Lucien Lagrange, this 40-story building is home to 89 residences and the Landmark Club, a full-floor private club with a private art collection, movie theater, athletic and spa facilities, and a private on-site chef. The building’s five-star staff is trained and managed by the Ritz-Carlton hotel company, ensuring unsurpassed service to the requests of each and every resident. 21 E Huron Luxury condos sold in 2013: 9 For a total of: $21.2 million The luxury Pinnacle Residences offer dramatic views and was yet another building designed by Lucien Lagrange. The lavishly appointed homes here feature marble entries and master baths, floor-to-ceiling windows and expansive balconies. The amenities and services reflect those of the Fordham (which is a block east), such as a health club, spa, indoor pool and sun deck, entertainment suite and private theater. 30 W Oak Luxury condos sold in 2013: 6 For a total of: $19.1 million This Gold Coast building was built for luxury, thanks to its location just one block from the most exclusive shopping in Chicago (Harry Winston, Hermès, Tom Ford). It’s a newer building with a boutique feel to it with just 45 units inside. It really lends itself to an art aficionado, with its minimalist aesthetic and rare 10-foot ceilings that would be ideal for displaying a collection. 340 E Randolph Luxury condos sold in 2013: 11 For a total of: $17.5 million Known as 340 On The Park in the newer Lakeshore East area, these condos offer exquisite views of the city, Lake Michigan, and Millennium and Grant Parks. Aesthetically, the building exhibits the importance of design details, from its contemporary exterior to the modern lobby made for an urban lifestyle. Amenities include an indoor pool, large health club, winter garden and a 24-hour doorman. 180 E Pearson Luxury condos sold in 2013: 11 For a total of: $15.6 million Water Tower Place, located just off of Michigan Avenue, is home to shopping, dining and luxury condos. Since the building is next door to the Ritz-Carlton Hotel, residents of Water Tower Place can enjoy all of the same amenities as hotel guests, such as concierge services and an upscale exercise facility. 600 N Lake Shore Luxury condos sold in 2013: 11 For a total of: $15.1 million The two high-rise buildings that comprise 600 N Lake Shore Drive put residents steps away on the beaches of Lake Michigan. Units feature unobstructed views, 9-plus-foot ceilings, and 7-foot windows. It’s also one of the few newer construction buildings along Lake Shore Drive, one of the most exclusive blocks in Chicago for luxury real estate. Amenities include a 24-hour door staff, concierge, rooftop sculpture garden, entertainment rooms and heated indoor parking. 65 E Monroe Luxury condos sold in 2013: 9 For a total of: $15 million The Park Monroe offers its residents the luxuries of a five-star hotel without having to leave the building: an attentive staff, club-quality fitness center, large-screen theater and an indoor pool, to name a few. The location in the heart of downtown makes it easy to enjoy the recreation and entertainment that surrounds the building, from Grant Park to the Museum Campus and endless dining and shopping options. 10 E Delaware Luxury condos sold in 2013: 9 For a total of: $14.8 million Lucien Lagrange also designed this building, just north of the loop in the ultra-picturesque Gold Coast. Large windows, rich hardwood floors, gourmet kitchens, and private balconies are a few highlights of the units here, along with the tree-lined streets near high-end shopping and dining at Rush and Oak streets. The uppermost level of Ten East Delaware is dedicated to the residents-only Ten Club, which features a rooftop swimming pool, stunning sundeck and gardens, fitness center and private club room. 840 N Lake Shore Luxury condos sold in 2013: 4 For a total of: $13.9 million The Chicago Condos at 840 N Lake Shore live more like a nice home in the ‘burbs, with ample square footage and a Parisian style designed by Lucien Lagrange. The Lake Shore Drive address alone points to prestige and elegance, but residents can also enjoy amenities like a 24-hour door staff, valet parking, storage lockers, individual climate controlled wine cellars and exercise facilities. 1201 S Prairie Luxury condos sold in 2013: 10 For a total of: $12.7 million A recently “re-launched” building in the South Loop, The Grant offers five-star living with everything from great architecture, a sought-after location and luxury amenities and services. It’s just steps away from Grant Park (the building’s namesake), Museum Campus and lakefront activities. Residents here enjoy an indoor pool and spa, a state-of-the-art fitness center that overlooks Grant Park and Lake Michigan, an entrainment suite, children’s playroom, screening room and lobby lounge. 159 E Walton Luxury condos sold in 2013: 6 For a total of: $11.6 million The Palmolive building is a vintage gem just off of Michigan Avenue, loved for its art deco style and architectural significance. Once a luxury office for the Colgate-Palmolive Company, the building was converted into ultra-luxury condominiums in 2001. Many units have unobstructed views of the city’s skyline, and properties on the 22nd floor and up are full-floor units. The ideal location puts residents near dining, shopping, the beach and lots more. 11 E Walton Luxury condos sold in 2013: 3 For a total of: $10.9 million This is another notable building from Lucien Lagrange and is just a few years old. Formerly known as The Elysian, the condos here share the building with the Waldorf Astoria Hotel, allowing residents to take advantage of hotel services, plus a 24-hour concierge, clubhouse party room, and state-of-the-art health spa and fitness center. The units at 11 E Walton are known for their generous size and attention to every detail, like high-end finishes and appliances. These buildings are essentially a Who’s Who for high-end real estate in Chicago. Each offers a unique lifestyle for luxury living, and each new construction property seems to offer something that takes it another step further. If you’re looking to buy a luxury condo in Chicago this year, I encourage you to get to know these addresses to see what best fits what you’re looking for. I’d be happy to give you a personal tour and help you get familiar with the features and offerings of each. Contact me at (312) 498-5080 or email me at email@example.com.