chicago-condos & Chicago Real Estate pcherry on 27 Jun 2010 03:19 pm

Luxury Condo Sales Picking Up

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.

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