Monthly ArchiveJune 2010
June 28, 2010 - Sales of luxury Chicago condos have picked up a little, and the Elysian scored another one not long ago. A $4.79 million condo on floor 49 with 3,972 square feet was sold recently, according to an article in Crain’s. There are 51 units in this 60 story Gold Coast high-rise located on 11 East Walton Street and 188 hotel rooms.
Overall there was a 43% increase in sales of high-end homes in Chicago from January through May of this year (2010). About 109 luxury condos and homes sold so far this year, down from 76 during the same months of last year (2009). According to Midwest Real Estate Data LLC there is still a 21 month supply of luxury Chicago homes and a 29 month supply of luxury Chicago condos. That breaks down to about 486 single-family homes and 694 Chicago condos that have prices listed over $1 million.
However, around 138 luxury Chicago condos have sold so far this year, which is an increase of 73% over the amount that were sold by this time last year. One of the Chicago real estate developments that boosted those numbers is Ten East Delaware.
So if you’re shopping for luxury Chicago condos or just looking for a good deal on pricing, compare the Chicago condos for sale in our development pages.
Chicago Real Estate pcherry on 25 Jun 2010
June 25, 2010 - Silver Tower still seems to be a big hit with buyers since prices on these Chicago condos have been reduced. The two events that tend to bring out buyers are foreclosure sales and auctions, and Silver Tower was hit by one of those. The 40 story River North high-rise, located on 303 West Ohio Street, has 225 condos. According to data from Appraisal Research Counselors, before the tower’s financial issues there were about 80 sales. Now another 50 have gone under contract.
Below is a list of some of the remaining unsold units.
1BR/1Bath with 728 square feet from $255,000 to $260,000. Assessments are $280-$321.
1BR/1Bath with 783 square feet from $240,000 to $255,000. Assessments are $276-$321.
1BR/1Bath with 785 square feet from $230,000. Assessments are $285-$382.
1BR/1Bath with 813 square feet from $245,000 to $265,000. Assessments are $275-$324.
1BR/1Bath with 829 square feet from $254,000 to $284,000. Assessments are $288-$331.
1BR/1Bath/Den with 947 square feet from $270,000 to $333,000. Assessments are $336-$389.
1BR/2Bath/Den with 930 square feet from $279,000 to $304,000. Assessments are $285-$382.
2BR/2Bath with 1,080 square feet from $352,000 to $373,000. Assessments are $366-$418.
2BR/2Bath with 1,138 square feet from $389,000 to $413,000. Assessments are $402-$458.
2BR/2Bath/Den with 1,190 square feet from $402,000 to $465,000. Assessments are $409-$453.
3BR/2.1Baths with 1,793 to 1,810 square feet from $622,000 to $685,000. Assessments are $685-$716.
Parking is $30,000 with an assessment of $32.57.
We can probably expect to see more price drops at Chicago real estate developments as the summer progresses.
June 19, 2010 - If you’re looking for something fun to do this weekend, you might want to double up on your activities if shopping for Chicago condos is also on your list. Lake Park Crescent is hosting a booth at the Lake Meadows Art Fair, according to fliers for the event. You can check out the art on display and see what Chicago real estate developers Draper and Kramer have to offer at their project.
Prices for the one bedroom CityHomes at Lake Park Crescent have been reduced and now start from $169,800. Many of the three bedroom units now are listed from $289,800. Single family row homes have been lowered and now start from $479,800 and the six-flat terrace penthouse residences are priced from $369,800.
Unit finishes and features include hardwood flooring in the common areas, stainless steel appliances, double bowl kitchen sink, granite counter tops, 42 inch kitchen cabinets, washer and dryer hook-up and marble baths.
The Lake Meadows Art Fair is takikng place at at the Lake Meadows Shopping Center on Saturday and Sunday from 11am to 8pm. Parking is free, as is admission. Lake Park Crescent’s furnished models are open from 12pm to 4pm this weekend as well.
Check back here regularly for updates about price reductions on Chicago condos for sale.