Chicago Real Estate News & Neighborhood Notes - Luxury Condos

850 N. Lake Shore Drive Condos Hit The Market In The Gold Coast!

Posted by Leo Clark. on June 24th, 2024

Cresent Heights, the owners of 850 N Lake Shore Drive Luxury Apartments are turning it into condos.  Built in 1927 it was home to the Chicago Athletic Club.  It subsequently transformed into multiple other venues including a dormitory for Northwestern Medical Students then in 2014 was completely renovated and marketed as a luxury apartment building.  As one of the only two Conversions, the other being the Tribune Residences, it is going against the trend of deconverting Condos to Apartments.  Considering the location, the neighborhood, and price points it should fair very well in what is considered to be a tough market.  

The 19-story building boast a historical exterior and a contemporary interior.  Amenities include a heated indoor lap pool,…

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Developer Units Finally Sell Out at Ritz Carlton Residences On Michigan Ave

Posted by Leo Clark. on November 1st, 2019

The Ritz-Carlton has set a record for the longest-ever sales period for downtown high-rise. Within the last few weeks, the last 2 of the 89 total condos in the luxury property were sold.

Going back to late 2018, there were only 4 units within the property that remained unsold. 
The final 2 condo units in a North Michigan Avenue high-rise sold recently making it 13 years since units in the building first went up for sale.

The final units that sold were A 38th-floor penthouse unit and a 34th-floor condo at the prestigious Ritz-Carlton Residences. According to records, this event marks the ending of the the longest-ever sales programs of a downtown condo building.
 The only one that rivals the Ritz is the Trump International Hotel & Towers, which took…

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SOLD! $11M Waldorf Astoria Condo - Now the Highest Price Paid for a Home in Chicagoland in 2016

Posted by Leo Clark. on July 8th, 2016

As first reported by the Chicago Tribune, a lavish, 52nd-floor unit over at the renowned Waldorf Astoria tower in Chicago’s Gold Coast sold for $11.7 million earlier this month, which marks the highest price paid for a Chicago-area home so far in 2016.

The unit that sold first hit the market back in June of 2015, with owners initially asking $13.9 million. An eventual price drop to $12.85 million happened back in March, and now it seems the final purchase price was settled for just under $12 million.

According to property records, the seller first punched the condo back in 2010 for 8.18 million, guaranteeing a profit of just over $3.5 million.

The mega sale at Waldorf Astoria Chicago now beats out a $10.5 million sale of a 300 acre farm out in Lake…

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