Chicago Luxury Buyers Strike Early in Two Gold Coast Sales

Chicago’s high-end condo market kicked off the new year with back-to-back transactions over $5 million.

An 8,000-square-foot condo on Goethe Street sold for $6.1 million, and a 4,300-square-foot unit at No. 9 Walton sold for $5.65 million in the first eight days of the year, Crain’s reported. The two sales represent a promising start for Chicago’s luxury sector and also outpaced early transactions recorded in prior years.

Carrie McCormick of @properties Christie’s International Real Estate represented the sellers in both transactions. She was joined by Julie Harron of Jameson Sotheby’s International Real Estate in the Goethe Street sale.

The first sale, on Jan. 7, involved a five-bedroom condo at 65 East Goethe Street. The property, previously owned by Antonio Gracias, CEO of Valor Equity Partners, represents a portion of a larger space he and his wife assembled for over $13.6 million across two purchases in 2013 and 2015.

The unit, listed for just under $8 million, sold for 77 percent of the asking price. Compass agents Debbi Nick and Jim Buczynski represented the undisclosed buyer, who valued its proximity to the Gold Coast and Lake Michigan views.

The second sale closed the following day and involved a three-bedroom condo at 9 West Walton Street. Known for its exclusivity, Gov. J.B. Pritzker recently bought two units in the building from Citadel’s Ken Griffin. Griffin’s cumulative losses in Chicago condo sales since moving to South Florida are just under $25 million.

Listed in February 2023 at $6.8 million, the property closed at a reduced price after re-entering the market late last year. Monica Canellis of Jameson Sotheby’s International Realty represented the buyers, whose identities weren’t disclosed.

A hundred sales of $4 million or more were recorded in Chicago last year, compared to 73 in 2023.

— Andrew Terrell