Most Expensive Chicago Condos Sold in July Were All About the Square Footage

CHICAGO - Aug. 22, 2013 - PRLog -- One might argue that the “downside” to condominium living is the lack of space, compared to what you might find in a single-family home in a residential neighborhood.

Many Chicago luxury condos defy that perspective easily, and the most expensive properties that sold in July are a great example. The most expensive sale last month had square footage that easily compares (or surpasses) that of a Chicago home, spanning 6,000 square feet high on the 45th floor.

The top 5 sales were found both in Lincoln Park at 2550 Lakeview and in the Near North/downtown Chicago area. Luxury condo buyers in Chicago are continuing to gravitate toward newer, statement-making buildings downtown, and those that can offer space of 3,500 square feet or more.

Here are the details of July’s top Chicago condo sales in descending order:

21 E Huron St, Unit 4501
Original list price: $6.9 million
Sold price: $6.5 million
As previously mentioned, this 6,000 square foot downtown Chicago condo was a true showstopper. The previous owners spared no expense in creating a full-floor penthouse residence with a renowned architect. The condo features 1,000-square-foot terraces and multiple balconies, topping it off with unobstructed views in every direction. Every finish inside was given special attention, featuring exotic woods, rare textiles, state-of-the-art electronics and automation and a 1,500-bottle wine cellar.

2550 N Lakeview Ave, Unit P7-15
Original list price: $5,198,000
Sold price: $5,144,850
Another penthouse with a generous 3,925 square feet of living space. This penthouse unit overlooks vistas of Lake Michigan, Lincoln Park and downtown Chicago, with a generous gallery opening up to wraparound southeast views. Featuring 3 bedrooms, a library, 1,045 square feet of outdoor space, a large master suite and oversized bath, formal dining room and an eat-in kitchen. Another point of prestige: the building was designed by famed Chicago architect Lucien Lagrange.

21 E Huron St, Unit 4601
Original list price: $$3.85 million
Sold price: $3.7 million
Another spectacular unit at 21 E Huron, this 5,300-square-foot penthouse takes up a full floor with unobstructed 360-degree views. The home includes a gorgeous master suite with three additional bedrooms, a large eat-in kitchen, adjacent family room, wine room two storage lockers and two wine cellars. This is also a full-amenity building, with everything from a door person to a park/playground, party room, exercise room and more.

2550 N Lakeview Ave, Unit D3-33
Original list price: $3.1 million
Sold price: $3.1 million
Another Lincoln Park beauty, this 3,600-square foot 4-bedroom includes nearly 300 square feet of outdoor space and extraordinary northeast vistas of Lincoln Park and Lake Michigan. The interior boasts 10.8’ ceilings, superior finishes and a large kitchen and butler’s pantry. With only 2 other units on the 33rd floor, this is a perfect home for a private, luxury lifestyle. The building itself offers residents everything they need, from a ¼-acre private park, a dog run, superb health club, indoor pool and more.

11 E Walton St, Unit 4901
Original list price: $3.5 million
Sold price: $3.1 million
Part of the Waldorf Astoria hotel (formerly the Elysian), this Chicago condo building is considered by some to be in the Gold Coast, but many also consider it the Near North or the Cathedral District. These are all sought-after neighborhoods, and this unit kicks it up a notch with spectacular skyline views from every room, high ceilings and sunrise and sunset balconies. The hotel amenities are at the fingertips of all residents, such as the world-class spa, in-home dining and catering, car service and a concierge.

It’s also interesting to note the assessment costs for these units, which range from a low of $1,400 up to $5,000-plus.

Lincoln Park condos and those in Chicago continue to be hot among luxury real estate buyers. If you’re in the market to make a purchase, I always recommend that you familiarize yourself with the recent sales of “like” properties—same neighborhood, budget, features, etc. that you’re looking for. Then you can see how your budget and expectations with what is actually on the market stacks up.

 

For more details on Chicago condos that were sold in July, or to see what’s on the market now, contact me at (312) 264-5853, email me at ssalnick@rubloff.com or visit http://www.sheldonchicago.com.