Here’s an overview of 2 bedroom condos for sale in downtown Chicago. It includes inventory, sizes, features, styles and prices. Links to listed downtown Chicago 2 bedroom condos for sale by price range are also provided.
Prices start below $200,000 and extend above $3,000,000. The median sale price in 2012 was $389,500.* So far this year it’s $432,500.
While prices are going up the time it takes to sell a downtown Chicago 2 bedroom condo is going down. In 2012 the average market time was 136 days. So far this year it’s 84 days.
The number of choices (inventory) has plummeted over the past few years. Quarterly inventories have been down anywhere from 8% to 23% compared to a year ago. In the 3rd quarter inventory was down over 48% from 3 years earlier. The drop in inventory brought an end to the buyers market. If you’re considering selling your home in downtown Chicago, email me for a free market analysis.
Sizes of downtown Chicago 2 bedroom condos range from less than 1,000 SF to a median size of around 1,300 SF to 2,500 SF or more. The overwhelming majority have 2 bathrooms. Roughly 20% have an additional half bath.
The majority have a garage space. However, if it’s owned, it’s often sold for an additional amount. Parking is leased in many buildings.
Styles range from vintage to mid-century to contemporary. Vintage condos are located in the Gold Coast neighborhood and the north part of the Streeterville neighborhood in downtown Chicago. Condos in the Loop and River North will be exclusively mid-century to contemporary.
Many of the homes have views of Lake Michigan, especially those on higher floors. If you want a lake view and want to live right next to the lake, check out condos for sale on Lake Shore Drive.
2 BEDROOM CONDOS FOR SALE IN DOWNTOWN CHICAGO
Click below to see downtown Chicago 2 bedroom condos for sale by price range.
|$3M & Above||$2M to $3M||$1.5M to $2M||$1M to $1.5M|
|$900K to $1M||$800K to $900K||$700K to $800K||$600K to $700K|
|$500K to $600K||$400K to $500K||$300K to $400K||$200K to $300K|
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* based on Midwest Real Estate Data (MRED); includes co-ops, apartments, lofts & townhouses