Last week the top floor penthouse at Trump Tower Chicago sold for $17M, the highest sale price for residential real estate in Chicago. A little over a week earlier the building also had its lowest sale price for a non-distressed sale at $247,500.* These sales establish Trump Tower Chicago prices are the most varied for any residential building in Chicago.
TRUMP TOWER CHICAGO’S HIGHEST PRICE
The previous highest Trump Tower Chicago price was $5.85M. It was for unit 87A, a half floor penthouse unit 2 floors below the top floor penthouse.
The top floor penthouse is at least twice as large as any other condo in the building with 14,260 SF. With a sale price of $17M it sold for $1,192/SF.
That’s not the highest price per square foot for a sale at Trump Tower Chicago. A couple of hotel condos have sold for nearly $1,500/SF.
However, the penthouse was sold as raw space. According to Melissa Harris with the Chicago Tribune, the new owner plans to spend another $15M to finish the home. That would put the total cost at $32M or $2,244/SF.
TRUMP TOWER CHICAGO’S LOWEST PRICE
At the other end of the size spectrum the sale this month of unit 1716, a 604 SF studio hotel condo, was the first time a Trump Tower Chicago condo that wasn’t a distressed sale sold for less than $250K. The previous low was in 2012 when another 604 SF hotel condo on the 17th floor sold for $255K. 1716 sold for $410/SF. Three distressed sales have sold in the low $200Ks.
MOST EXTREME PRICES
Trump Tower Chicago prices from the $200Ks to 17 million dollars have the biggest range for any residential building. The only other residential building with a sale price over $10M is Park Tower, but prices there start above $1M. A sale for a penthouse at the Ritz-Carlton Residences listed at $10,850,400 is pending, but prices there also start above $1M. The building with the second most varied prices is The Fordham with sale prices ranging from just under $300K to $9.6M.
*Information is based on data from Midwest Real Estate Data (MRED).