The City of Chicago just set a new record for the priciest recorded sale of the entire year. A Downtown Chicago condo recently sold for more than $20 million.
Part of the Residences at the St Regis Chicago, the condo has a total of five-bedrooms and its own private outdoor pool. While the name of the new owner isn’t being released, we do know the property is actually the combination of several units and some outdoor space.
The two-story duplex takes up around 11,000 square feet on the 71st and 72nd floors of the building. Along with a pool, the more than 8,000 square foot outdoor space additionally includes a hot tub and some dining space.
The St Regis has nearly 400 condos and nearly 200 hotel rooms. Residents of the property enjoy access to
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Originally planned as a hotel, a new Fulton Market project has now pivoted to an all-residential project. Located at 1234 West Randolph Street, the planned glass and metal tower will eventually rise 42 stories above the surrounding neighborhood. 
Following a successful shakeup of the office market with its coworking space, WeWork is now ready to turn the tables on the residential market in Uptown. WeWork’s next focus involves taking on multifamily apartment buildings.
Thinking about buying but worried about rising mortgage rates? Well, rents are also on the rise in Chicago, where some landlords have recently hiked rates of up to 20-percent. At a time when tenants are finding apartments harder to come by and even less affordable, landlords are using higher rents to help compensate for some of their lost revenue from the pandemic. Some are also trying to combat their own higher repair and operating costs, due to rising inflation.