From Chicago Tribune ( Sept 2012)
Money may not buy happiness, but it helps when buying these multimillion-dollar homes
CEO addresses range from downtown Chicago to the Gold Coast and Lincoln Park. In the suburbs, the hot places include the North Shore, the Barringtons and affluent western villages like Hinsdale.
In the city, the highest condos in the clouds look down from Trump International Hotel & Tower, 401 N. Wabash Ave. The 92-story property on the Chicago River has 486 condos on 62 floors.
Only upper-bracket buyers need apply for the 89th-floor penthouse with 6,800 square feet and 360-degree views of the city and lake. The asking price: $32 million, according to Michael Maier, sales executive at Trump Tower.
Those who will settle for a half-floor penthouse only have to pay $7.5 million. Chicago Bulls star Derrick Rose scored a relative bargain on a 3,102-square-foot unit on the 84th floor for $2.8 million.
Another bargain? The price of the Palmolive Building's penthouse has been cut to $16.2 million from $18.7 million..
Special features might lure other elite buyers. How about a rooftop Japanese garden? The penthouse on the 14th floor of the Contemporaine condominium building, 201 W. Grand Ave., in River North, takes green to a new level. Its outdoor terrace is a miniforest with trees, boulders, a waterfall and shallow pools. The unit is priced just under $3 million.
Two new high-rise developments that cater to the rich and super rich are the Ritz-Carlton Residences and Lincoln Park 2550. The 40-story Ritz-Carlton, 664 N. Michigan Ave., has 89 residences topped by a $13 million penthouse, while 39-story Lincoln Park 2550 overlooks the park and lake at 2550 Lakeview Ave. with 218 units and a $14 million penthouse.
Wealthy Americans Upgrade into Pricier Primary Residences in Post-Bubble Housing Market, 37% Own Million-Dollar Homes; Vacation and Investment Property Purchases Also Pick Up Since 2008
I found this article on Luxury Institue web site. It is dated July 2011.
However, it still reflects the reality – the prices are low, so buy low to sell high
July 5, 2011
(NEW YORK) July 5, 2011 – Amid still-depressed housing numbers that dominate headlines, a new survey by the independent and objective New York City-based Luxury Institute and the Institute for Luxury Home Marketing shows high net-worth U.S. homeowners taking advantage of the downturn to trade up into higher-priced new primary residences. More than one-third (37%) of the wealthy value their homes at $1 million or higher, while 32% assess their primary residence to be worth $500,000 or less.
Lured by lower prices, one in four U.S. consumers with annual income of $150,000 or more have bought a residential property since 2008 at a median purchase price of $509,000, up 3.2% from the 2005 to 2007 period. Most new residences (83%) are single-family homes and two-thirds of these are in suburban settings. Seventeen percent plan to purchase additional property this year, while 23% of those younger than 50 plan to buy in 2011.
Seventy percent of wealthy homebuyers used a real estate agent to help with their property purchase and two-thirds of those say that they would work again with the same agent.
“Luxury homebuyers recognize that many premium homes are available at relative bargains,” says Milton Pedraza, CEO of the Luxury Institute. “Similar to the luxury retail landscape, luxury home sales provide more evidence of durability at the high end of the market.”
“Luxury is the good news story in real estate,” says Laurie Moore-Moore, CEO of The Institute for Luxury Home Marketing. “The number of wealthy households has jumped back to pre-recession levels and affluent home buyers are actively purchasing. The National Association of Realtors’ statistics show that national home sales at $1 million and above were up more than 18% year-over-year in 2010. Strong activity continues this year as well.”
There’s nothing quite so delightful as a meal enjoyed in the great outdoors. Add a cool breeze off the water and a magnificent view, and you’ve got the makings of a memorable meal. This month, we highlight a few of our favorite restaurants that feature exceptional waterfront locations. So, pull up a chair and enjoy the view!
Come and experience Cite At The Top Of Lake Point Tower, one of Chicago’s best restaurants offering a stunning 360-degree view of Chicago’s skyline and Lake Michigan and an unprecedented fine dining experience 70 stories above the ground. Savor the culinary creations of Executive Chef Oscar Ornelas, coupled with a wine selection that will satisfy even the most demanding wine aficionados.
THE TERRACE AT TRUMP. A sophisticated outdoor oasis showcasing superb al fresco dining amidst the iconic views of Chicago's dramatic landscape is The Terrace at Trump. In emphasizing the superior service and sophisticated summer fare for which Trump Chicago has been lauded, the Terrace offers a specially crafted menu served alongside a variety of boutique wines and hand-crafted cocktails.
With a serene ambiance highlighted by vivid, green landscaping guests can relish in the summer sun while taking in vistas that are quintessentially Chicago including the Wrigley Clock Tower, Lake Michigan and Chicago River. Sit and enjoy a cocktail while watching the fireworks from The Terrace at Trump on Wednesdays and Saturdays after Memorial Day.
The one bedroom residences at Trump International Hotel & Tower® Chicago range from approximately 920 square feet to approximately 1,315 square feet. Each unit has a luxurious a master bathroom plus guest powder rooms and individual laundry rooms. Large kitchens and living areas clad in marble and hard woods with wall to wall views make these homes feel as palatial as the building's largest residences. Enjoy the Trump lifestyle, including access to the finest amenities in the city, without committing to more home than you require. One bedroom homes at Trump International Hotel & Tower® Chicago feature views of exciting city lights as far as the eye can see or dramatic lake and river vistas framed by Chicago's beautiful architectural skyline. ( web site information)
$11,750 monthly lease was signed in February 2012 for the three bedroom condo, 3100sq ft, on 72nd floor.
Trump Residencies offers not only beatuful views and finishes it offers a lifestyle. The services are exceptional and to delight of all the pet's lover – dogs and cats of all sizes are welcome.
From the web site :
Enjoy a lifestyle immersed in luxurious amenities that have garnered praise throughout the world. Without stepping outside of the building, indulge a Michelin-rated restaurant, an internationally acclaimed spa, and a panoramic outdoor terrace all enveloped in revered customer service. As you return home to the shining tower that has established its place as the new pillar of Chicago's skyline, be welcomed by door staff who will assist with your needs whether they be related to parking, package deliveries, or guest arrivals. Settled into your home, enjoy an exclusive perspective from the floor plan you've chosen to match your lifestyle. Relax, refresh, lounge, or entertain in your personalized space.
When the time comes to explore the best that Chicago offers, start within the tower. The Spa at Trump awaits on the 14th floor, featuring a 75' temperature controlled swimming pool award-winning spa as well as extensive fitness center facilities, exercise classes, and optional personal training services. Sixteen restaurant, Rebar lounge, and The Terrace at Trump feature drinks and dining in an array of settings suitable to any mood. Additional outdoor spaces incorporate over an acre of park space featuring a dog park, lily pond, and premier shopping along three floors of riverwalk shops.
Chicago Loop Condos and Urban Luxury Profile
If a mirror could talk, and we could ask it who has the fairest luxury real estate of all in the urban mid west, the mirror would likely say Chicago. To find out why the mirror answered with Chicago, we need to take a look at the urban scene close up. Upon close examination, we discover Chicago has many luxury condos in swank, sophisticated neighborhoods. Chicago has several of these neighborhoods. Our close up examination takes us to the neighborhoods where we happen to find and explore The Loop.
On the streets in Chicago Loop district, we find a vibrant atmosphere. We can almost cut it with a knife. We learn as we explore that the Loop houses Chicago's Central Business District and the theater district, which provides lots of entertainment and fine dining. We discover that the Chicago Loop is right next door to Millennium Park, a stunning and picturesque outdoor venue with one edge astride Lake Michigan. We begin to see why the Chicago Loop has such a vibrant and almost palpable atmosphere. We begin to appreciate the intrinsic value of urban living in Chicago Loop condos and may understandably find ourselves looking at Loop condos for sale.
The Chicago Loop hosts numerous condo complexes, some with particularly luxurious amenities and locations.These luxury high rises include 340 on the Park, which provides Chicago Loop condos with grand views of Millennium Park and Lake Michigan. It also provides views of the city and the river. We can enjoy these views from a private terrace, or we can enjoy the high rise's many other private and community amenities from a luxury vantage point. Chicago Loop condos for sale in 340 on the Park definitely get our attention on the finer things of life.
Another luxury high rise in The Loop draws our attention. The Aqua has 87 stories with fine condos making up much of its square footage. Its Chicago Loop condos possess balconies that let us capitalize on a soaring vantage point for incomparable city, park and lake views. The Aqua Chicago Loop condos for sale keep our interest in Chicago Loop heightened. We may want to find out more about the Chicago Loop.
With senses overwhelmed and interests beyond peeked, we may make our final destination one of these luxury Chicago condos discovered in our quest. We may simply decide we should learn even more about the Chicago Loop. We may want to make plans to explore buying in the Chicago Loop condos market.
Edgewater is a lakefront community area on the North Side of the city ofChicago, Illinois seven miles north of the Loop. As one of Chicago’s 77 official community areas, Edgewater is bounded by Foster Avenue on the south, Devon Avenue on the north, Ravenswood Avenue on the west, and Lake Michigan on the east. Edgewater contains several beaches that residents enjoy in the late spring, summer, and early autumn. Chicago's largest park, Lincoln Park, stretches south from Edgewater for seven miles along the waterfront, almost to downtown. Historically, Edgewater was the northeastern corner of Lake View Township, an independent suburb which was annexed by the city of Chicago in 1889. Today, theUptown community is to Edgewater's south, Lincoln Square to its west, West Ridge to its northwest and Rogers Park to its north.