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Two St. Regis condos sell for more than $6M, as Chicago set to break luxury sales record

If luxury sales continue on this trajectory, 2021 could surpass 2018’s record 73 luxury units sold

With two more condos in the St. Regis selling for more than $6 million, Chicago is set to break its own luxury sales record (St. Regis Residences)
With two more condos in the St. Regis selling for more than $6 million, Chicago is set to break its own luxury sales record (St. Regis Residences)

Buyers have snatched up two more multimillion-dollar condos in the St. Regis tower in Lakeshore East, as the city’s high-end luxury market heads for a record.

The first condo — a four-bedroom, four-bathroom 5.734-square-foot unit on the 75th floor — sold for just under $8.42 million, Crain’s Chicago Business reported. The second condo that was recently purchased is a four-bedroom, five-bathroom unit on the 67th floor that sold for a little more than $7 million.

The latest pair of sales add to the growing list of units in the tower that have sold at multimillion dollar prices. Of the 393 units, the St. Regis has sold six for more than $6 million. Recently, Magellan Development CEO David Carlins paid $6.5 million for a four-bedroom, five-bathroom unit on the 68th floor of the luxury condo and hotel skyscraper his firm built.

The luxury tower offers units that range in price from $840,000 to $18.5 million. Some of the more expensive units available include the Sky 360 penthouses. The full-floor penthouse units begin on the 71st floor and offer 360-degree views of the Chicago skyline.

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The tower, which was designed by Jeanne Gang’s architecture firm Studio Gang, features such amenities as an outdoor pool, a fitness center, screening room, children’s activity room and a conference center.

According to data from Crain’s, in an average year the city sells about 50 properties for $4 million or more — with the last property usually being sold at the end of the year. However, this year, Chicago has already seen 63 units sell for that price or higher. If luxury sales continue on this trajectory, 2021 could surpass 2018’s record 73 luxury units sold.

Out of the top 10 sales for 2021, nine are located in the city — six of which are downtown condos — and the other property was a $7.7 million megamansion in the suburb of Hinsdale.

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[Crain’s] — Victoria Pruitt

Tags
Chicago Housing MarketChicago Luxury Market