While reviewing 2014 Chicago sales statistics I ranked the median sale price for the most expensive buildings. Only condo and co-op apartment buildings that had at least 2 sales recorded in Chicago’s multiple listing service (MRED) that closed in 2014 were included in the rankings. Only listed sales were used in determining median sale price for a building.
For 2013 to make the top 10 in the rankings a building needed a median sale price of $1.725M or higher. For 2014 it had to be $1.965M or higher. Nine of the 10 buildings that made the list are in downtown Chicago’s Near North Side area. The other is in Lincoln Park. Most of the buildings are in the Gold Coast neighborhood, but one each was in Streeterville and River North.
The most expensive Chicago residential building for the third year in a row was the Waldorf Astoria (formerly called Elysian) at 11 E Walton with a median sale price of $3.65M down from $3.875M in 2013. It sits atop the Waldorf Astoria Hotel in the Gold Coast.
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30 W Oak was the second most expensive building in 2014 with a median sale price of $3.125M. The only other building with a median sale price of $3M or higher was the Park Tower with a median sale price of $3M. Seven of the buildings that made the top 10 list for 2013 made the list for 2014.
One of the buildings that made the list is a co-op apartment building, 1430 N Lake Shore Drive. One co-op apartment building, 1500 N Lake Shore Drive, made the list last year, but had no sales in 2014.
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THE 10 MOST EXPENSIVE CHICAGO RESIDENTIAL BUILDINGS IN 2014
|RANK||BUILDING||2014 MEDIAN SALE PRICE||NEIGHBORHOOD||2013 RANK|
|1||Waldorf Astoria||$3,650,000||Gold Coast||1|
|2||30 W Oak||$3,125,000||Gold Coast||3|
|3||Park Tower||$3,000,000||Gold Coast|
|4||50 E Chestnut||$2,946,234||Gold Coast||5|
|5||77 E Walton||$2,560,000||Gold Coast||6|
|6||1430 N Lake Shore Drive||$2,425,000||Gold Coast|
|7||Ritz-Carlton Residences||$2,400,000||River North||7|
|9||840 N Lake Shore Drive||$2,300,000||Streeterville||2|
|10||2550 N Lakeview||$1,965,000||Lincoln Park|