North Harbor Drive

Observations and insights into real estate happenings along N. Harbor Dr. in downtown Chicago

East Randolph Street, Chicago

Ritz-Carlton Chicago’s Highest-End Luxury Condos Available for Move-in

June 25th, 2013 · No Comments · Uncategorized

Crain’s Chicago reports that after many difficulties, the Ritz-Carlton is back on track.

The 89-unit project at 664 N. Michigan Ave. is the most expensive project currently on the luxury downtown Chicago residential market at about $1,200 per square foot vs. about $800 per square foot at the Trump and Lincoln Park 2550. The price is partly a function of the very central location along the N. Michigan Ave. shopping district but I believe it’s mostly due to the prestige of the Ritz-Carlton brand.

If you are looking for ultra high end luxury with lots of amenities  in Chicago, this is the building. Residences range from 1,500 sq. foot one-bedroom homes to penthouses of almost 7,000 sq. feet. and a special feature is the full-floor private Landmark Club with amenities that include a private dining room, screening room, spa treatment rooms, and a state of the art exercise facility.

The building is the type much sought after by overseas buyers such as from the Middle East and Chinese looking to invest or buy a home at which to stay while in Chicago on business or shopping/sightseeing.

The project difficulties are outlined in this article, but the short of it is that there are still many units available at attractive prices compared to ultra high end luxury in other U.S. cities such as New York.

If you are looking to buy high end luxury properties in Chicago, I would be happy to be your guide. I have been working in real estate and living in downtown Chicago for almost 15 years and am very familiar with luxury residential including the Trump Building and the Ritz Carlton as well as Lincoln Park 2550 and many other new and high end residential projects in downtown Chicago.

 

 

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