While Trump Tower Chicago and a host of ultra-luxury rental buildings that have exploded onto Chicago’s real estate scene seem to dominate many of today’s headlines, has anyone been paying attention to what’s going on over at 55 E. Erie? An extravagant 56-story high-rise situated in the heart of downtown’s River North neighborhood, it’s hard to argue the pure luxury on display over at 55 E. Erie when each of the four condos currently listed are priced well over $1 million.
As noted in a telling piece yesterday on Chicago Real Estate Daily, a 55 E. Erie condo for sale came to market this week with an asking price that would set a record for the entire building; and while that certainly seems impressive, the standing record has only been held for about a week.
On August 5th, a 4,100 square foot condo on the 54th floor sold for $4.25 million, which equals around $1,036 a foot. This new unit, a 4,165 square foot condo on the 52nd floor, is currently listed for $4.5 million, or about $1,082 a foot. So what’s the difference between the two units? As reported, the newly listed condo at 55 E. Erie offers north- and east-facing views that are much more desirable than the south-facing views of the sold unit, which feature much less of the lake and green space of Lincoln Park and the lakefront.
Perhaps what’s most significant about 55 E. Erie as a whole, is that only buildings like Trump Tower, the Four Seasons, and Waldorf Astoria—locations with hotel services available to residents—sell at a higher price per-square-foot, elevating 55 E. Erie to inarguably one of downtown Chicago’s most elite places to call home.
For more information about 55 E. Erie condos for sale, or to schedule a private showing for an available listing, contact Gold Coast Realty today at (312) 280-9600.
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