Streeterville Real Estate News

People move and invest in Streeterville real estate for a wide variety of reasons. For some, it’s the vast array of restaurants and shopping amenities, while for others, it’s the close proximity to work or school. Regardless of your reason for moving to Chicago’s Streeterville neighborhood, there’s little argument for not ever having enough to do or enjoy as Michigan Avenue is just steps from any Streeterville location and other area attractions include the Museum of Contemporary Art-Chicago and one of the city’s most visited tourist attractions—Navy Pier.

One local amenity that’s often overlooked and perhaps immensely underrated in Streeterville however, is the nearly 6-acre park space known as Lake Shore Park. Situated in between Chicago Avenue and

As the birthplace of the skyscraper, Chicago is filled with unique architecture and high-rises that help define our city. The Willis Tower, formerly known as the Sears Tower, is perhaps Chicago’s most recognizable building, but several high-rise residential buildings are also a key part of the Windy City skyline.

While the list of spectacular condo and apartment buildings in downtown Chicago seems to go on and on, and only continues to get longer with each passing year, there may be no other residential high-rise more identifiable than the John Hancock Center at 175 E. Delaware in Chicago's Streeterville neighborhood. Standing over 100 stories tall and housing an unimaginable 700+ condominium residences, the John Hancock Center is an ideal solution for

When narrowing down that wish list for a new Chicago condo, space is often the last thing home buyers want to sacrifice. The unfortunate reality for many condo buyers, however, is that the extra square footage you so desperately want tends to be the number one factor that drives up how much you'll end up paying.

Bargains for two-, three- and even four-bedroom condos can of course be found all over the city, but for each extra bedroom that’s included in a swanky new downtown condo, the harder it becomes to find a place you like at the price you want.

For obvious reasons, three bedroom condos in Chicago are in very high-demand. Whether you want that third bedroom to use as an office, to use for your kids or to simply use as an extra guest room, having

When it comes to residential real estate, Streeterville consists mainly of towering high-rises that house some of Chicago’s most expensive homes currently on the market. From lavish rentals with upgraded interiors to extravagant condominiums with sprawling city and lake views, Streeterville is definitely where you want to be if living high-in-the-sky seems to be your idea of the perfect downtown Chicago residence.

So with so many different options and stylish buildings to choose from, just which Streeterville addresses are considered the priciest? To answer that question, take a closer look at the buildings featured below, which hold some the neighborhood’s most expensive condos currently listed on the MLS:

Ritz Carlton Residences

Conveniently

It’s no secret Streeterville is home to some of Chicago’s most expensive real estate. Whether it’s the exquisite co-ops lining East Lake Shore Drive or a luxury high-rise condo residence situated high above the busy streets below, Streeterville is where luxury real estate and the downtown Chicago lifestyle go hand-in-hand.

Much of the luxury real estate market in Streeterville is defined by the ultra high-end buildings that overlook Chicago’s gorgeous lakefront. Buildings like 600 N. Lake Shore Drive, 840 N. Lake Shore Drive, and 474 N. Lake Shore Drive can offer are among the most highly sought-after, but the list of appealing options hardly stops there.

If you're in the market for a luxury condo in Streeterville, you'll conveniently find may of

It’s a mixed bag for luxury condo prices in Chicago right now. While some buildings are selling for a higher price per square foot, others are down in price.

Perhaps one of the biggest names right now is Trump, and reports suggest the condos at Trump International Hotel & Tower are among those down in price. According to some published reports, the sale price per square foot within the Chicago River tower was down about 12-percent from 2016 to 2017. In comparison, reports list the average sale price per square foot in 340 On the Park, located in Lakeshore East, up about 12-percent during the same time period.

While some brokers suggest it could be a reflection of the Trump presidency, others suggest increasing completion from newer construction, luxury

A triple condo now on the market in the John Hancock Center could soon smash the old record sale price for a unit in the building. The latest offering is a newly redesigned condo that takes the square footage from three condos, forming a new 4,100 square foot home with four-bedrooms, four-baths and a massive, combined space, incorporating the kitchen, dining and living rooms into one L-shaped design. 

Just as impressive as the condo’s size is its current asking price. Now on the market for $2.5 million, the unit far surpasses the old record price for a condo sold in the building. A more than 3,000 square foot unit was purchased for $1.65 million back in May of this year.

While that particular unit was on the 91st floor of the John Hancock Tower, the

While Chicago’s real estate market has been off to a fast start in 2017, the luxury market in 2016 actually cooled off a bit compared to a year prior, at least when it comes to the region’s priciest homes.  

According a recent report from Crain's Chicago Business, just two homes in the six-county Chicagoland region sold for $10 million or over back in 2016, which is down from 6 homes at that price point back in 2015. Even with the dip in ultra-luxury home sales, however, 2,423 homes priced at $1 million or more also sold back in 2016, which is a 2.5% increase compared to 2015. 

As you might expect, top selling suburbs in the luxury category were Hinsdale (144 luxury sales), Winnetka (144 luxury sales), Wilmette (120 luxury sales), Lake Forest (97

If you haven’t noticed Streeterville’s newest apartment tower at 220 E. Illinois nearing completion, chances are you haven’t looked up. Designed and developed by David Hovey, this gleaming new high-rise is certainly one of the city’s shiniest new apartment buildings to hit the market in recent memory, not to mention one of the more impressive as well. 

At 56 stories, 220 E. Illinois, or perhaps better known now as Optima Signature, will feature 490 apartment residences, which of course are just now being delivered at a time in which the downtown market is being flooded with new rentals. But like so many of Hovey’s other projects, Optima Signature promises to be special. 

Over the first 39 floors, Streeterville’s newest apartment tower will feature a

Although condos for sale at One Bennett Park have already been listed on the MLS for weeks, the project is now cleared for takeoff so-to-speak as reports are surfacing about Related Midwest finally clearing a $240 million construction loan to finance the massive new project. 

Once finished, One Bennett Tower will feature 69 condo residences and a whopping 279 apartment residences, easily making it one of downtown Chicago’s largest projects to get underway since before the housing crash. 

According to a report from Crain’s, the $240 million loan will only cover about 60% of what it will take to building the roughly $400 million tower, which will be located at 451 E. Grand right in the heart of Chicago’s Streeterville neighborhood. 

As you might’ve