Recording Breaking $8.9M Condo Sells At One Chicago Residences!
Posted by Leo Clark. on Wednesday, March 19th, 2025 at 12:31pm.
In February 2025, One Chicago, the impressive 77-story skyscraper located at the intersection of Chicago Avenue and State Street, reached a notable achievement with the sale of a full-floor condominium for $8.9 million. This transaction not only represented the highest sale price within the building since its completion in 2023 but also highlighted the strength and allure of Chicago's luxury condominium market.
The Landmark Sale
The condominium, situated on the entire 72nd floor, boasts approximately 6,100 square feet of living space. It includes three bedrooms, a spacious open-plan living area, floor-to-ceiling windows offering sweeping city views, and wide-plank oak flooring. Residents enjoy exclusive amenities such as a covered motor court with valet service, membership to a private fitness club, and access to both indoor and outdoor communal areas.
Originally listed at $9.5 million in August 2023, the property quickly went under contract, with the sale concluding on February 19, 2025, for a slightly lower price of $8.93 million. This sale marks the second-highest residential transaction in the Chicago area for 2025, indicating a growing confidence in the downtown luxury condo market.
One Chicago's Position in the Market
Developed by JDL Development, One Chicago exemplifies modern urban living. The tower features 77 condominiums on the upper 30 floors, complemented by 735 rental apartments below. Its design merges luxury with convenience, housing a Whole Foods Market, a Life Time Fitness center, and various dining options within its base.
Despite challenges faced by downtown Chicago in recent years, including crime concerns and the effects of the COVID-19 pandemic, One Chicago has shown strong sales performance. By mid-2022, the building had set a new standard for condo prices, with initial sales averaging around $1,366 per square foot. This trend has persisted, with larger, higher-floor units achieving even greater prices per square foot.
The Broader Implications
The successful sale of the 72nd-floor unit at One Chicago signifies a broader revival in Chicago's luxury condominium market. In the early months of 2025, the top six residential sales in the Chicago area have all been downtown condominiums, reflecting a renewed interest in urban living among affluent buyers.
This trend indicates that, despite past market uncertainties, there is a sustained demand for high-quality, amenity-rich residences in prime urban locations. Developments like One Chicago, which combine luxury, convenience, and modern design, are well-positioned to satisfy this demand.
Looking Ahead
As Chicago continues to evolve, the success of projects like One Chicago serves as a barometer for the city's real estate market. The ability to attract high-end buyers in a competitive environment underscores the significance of thoughtful design, strategic location, and comprehensive amenities.
For prospective buyers and investors, the recent $8.9 million sale at One Chicago underscores the lasting value and appeal of luxury condominiums in the city center. As urban living trends shift, properties that seamlessly blend lifestyle, convenience, and exclusivity are likely to remain highly sought after.
In summary, the landmark sale at One Chicago not only establishes a new benchmark for the building but also reinforces the vitality and resilience of Chicago's luxury real estate market. As the city navigates its post-pandemic landscape, developments that prioritize quality and integrated living experiences are set to lead the way.