The luxury market in Chicago continues to be propelled by Downtown condo sales.
Last week’s five most expensive home sales all came from condo buildings in the central business district, with the five deals closing for a combined $15.2 million. Through three weeks in August, only one in 15 most expensive home sales was for a single family home.
Unlike the previous week, last week’s list included some condo re-sales, rather than being comprised solely of new-development units.
A re-sale in Convexity Partners’ 4 East Elm building led last week’s list of most expensive closed sales, with a 19th-floor unit trading for nearly $4.5 million. A Trump Tower condo sale also made the list, with a 77th-floor unit selling for $2.7 million, and so did a sale in the Residences at 900 building, constructed in 1989.
Top home sales in August continue to be dominated by newly delivered condo project, however, including Belgravia Group’s Renelle on the River and Sulo Development’s Hayden West Loop.
Price and property details were found using Redfin and records on PropertyShark. All sales on this list closed from Aug. 19 through Aug. 26.
4 East Elm Street, Unit 19S | Gold Coast | $4.45 million
This is one of only 35 units in the luxury boutique condo at 4 East Elm developed by Convexity Partners. The 3,500-square-foot unit includes three bedrooms, three-and-a-half bathrooms, a study, and a private elevator. The building was one of the first successful condo projects done post-recession, as it was built in 2016 and sold out in 2017 with the most expensive unit closing for $6.7 million, according to Crain’s. Philip Skowron of @properties represented the seller and Millie Rosenbloom of Baird & Warner represented the buyer.
403 North Wabash Avenue, Unit 13A | River North | $3.38 million
Beligravia’s newly delivered Renelle on the River continues racking up pricey sales, with this four bedroom, four-and-a-half bathroom selling for $3.377 million. The building also had the two priciest home closing two weeks ago. [https://therealdeal.com/chicago/2019/08/20/here-are-the-priciest-home-sales-in-chicago-last-week-2/] Situated just north of the Chicago River and just west of Michigan Avenue, the building offers dramatic views of Downtown. Elizabeth Brooks and Brooke Bohnker of Belgravia Realty Group sold the unit, while Greg Alvarado of Coldwell Banker represented the buyer.
401 North Wabash Avenue, Unit 77A | River North | $2.7 million
This Trump Tower, 3,000-square-foot unit on the 77th floor include a fireplace, two walk-in closets and access to amenities such as a pool and health club. This is Philip Skowron’s second listing to be included among last week’s five most expensive sales, while Mike Larson of Gold Coast Realty Chicago represented the buyer.
1109 West Washington Boulevard, Unit 7D | West Loop | $2.36 million
This unit in Sulo Development’s sold-out Hayden West Loop has over 3,000-square-feet, three bedrooms and three-and-a-half bathrooms. The 28-unit complex has had top sales in three of the last weeks. Tim Sheahan and Mark Icuss of Compass represented Sulo.
77 East Walton Street, Unit 21B | Gold Coast | $2.32 million
This 3,100-square-foot unit is in The Residences at 900 building, which is just off Michigan Avenue and includes the Four Seasons Hotel and access to Bloomingdale’s mall. Built in 1989, it is the oldest building to include a sale recorded among last week’s most expensive. This unit, however, was barely lived in, according to the listing. This listing agent was Katherine Malkin of Compass, while Helaine Cohen of Berkshire Hathaway HomeServices KoenigRubloff represented the buyer.