chicago-condos & Chicago Real Estate pcherry on 31 Mar 2010 09:46 pm

Big Sales Made At Elysian

March 31, 2010 - Whoever said luxury Chicago condos are selling hasn’t spoken with the sales team at the Elysian. A buyer recently purchased the whole 37th floor of the 60 story mixed-use high-rise for about $6,884,500 according to an article in Chicago Magazine. The developer for this Chicago real estate project made the decision not long ago to cancel the contracts for the hotel condos in the tower and just focus on the hotel portion and the residential condos.

The full-floor purchase was made by James J. McNulty who was previously the CEO of the Chicago Mercantile Exchange. The floor was originally designed to be two individual condos, and the combined space measures up at 7,400 square feet of living space.

This recent purchase isn’t the biggest dollar sale for the Elysian though. The article went on to say that Caryl Dillion, sales agent for the tower, revealed that a unit on floor 52 was recently sold for $7.5 million. There are several resales listed for the Elysian and of the 52 total condos, there are 6 developer units still not under contract.

Even with these two high dollar sales, we probably can’t say that the market for luxury Chicago conods is on the rebound yet. Right now, Chicago homes for sale that are distressed properties are still making up the bulk of the contracts being signed.

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