The Palmolive Building offers many options in luxury real estate in Chicago. (image from flickr/artefaqs)
The Palmolive Building was built in 1929 as a prestigious office building and highlighted as a premier example of art deco architecture. The building has undergone a transformation in the last decade to expand the base-level retail space and create luxury Chicago condos at a prime location.
The Palmolive Building offers chic, sophisticated condos with top concierge services such as a door person, exercise room, sauna, steam room and party room. If you’re planning an event, use the Palmolive’s space or have the concierge book you at the Drake Hotel across the street. Condos in the Palmolive Building are also a quick elevator ride or walk away from the finest shopping options in the city: Louis Vuitton, St. John, Gucci, Mont Blanc, Michael Kors, Bloomingdale’s, Max Mara and Chanel are all within a block of this prestigious piece of Chicago real estate.
Upscale buyers hunting for an exclusive, luxury condo now have an opportunity in the Palmolive Building, with 9 unique 2- or 3-bedroom properties currently listed:
Unit 13B
Square footage: 1,867
List price: $1,150,000
This spacious two bedroom features custom-designed mahogany walls along with sprawling lake views, and combines the vintage style of the building with modern warmth and elegance.
Unit 8D
Square footage: 3,014
List price: $2,250,000
With new interior construction, this 3-bedroom condominium offers exquisite finishes, large windows, 9 ½-foot ceilings, hardwood floors and two parking spaces included in the price.
Unit 12A
Square footage: 2,832
List price: $2,295,000
Also with recently reconstructed interiors, this Chicago condo includes white oak floors throughout, high ceilings, fireplaces and leading appliances.
Unit 5C
Square footage: 3,672
List price: $2,350,000
This 3-bedroom boasts generous space, wood floors and north, east and west views in this interior new construction condo.
Unit 13A
Square footage: 2,832
List price: $2,375,000
This Palmolive 2-bedroom-plus-study combines the historic building’s old-world charm with everyday technology. It offers exquisite finishes and neutral backgrounds so any buyer can make the space their own.
Unit 15A
Square footage: 2,832
List price: $2,595,000
A designer residence, this 3-bedroom Chicago “smart home” features a gourmet kitchen, lake and city views from every living space and lavish décor and finishes.
Unit 10FG
Square footage: 3,300
List price: $2,695,000
This one-of-a-kind condo in the Palmolive includes two bedrooms plus a study and is one of only six building units that feature 14-foot ceilings. This stunning unit also includes custom millwork, hardwood floors and a unique and generous master closet.
Unit 7D
Square footage: 3,157
List price: $4,995,000
World-renowned designer Alessandra Branca designed this unique luxury two bedroom, perfect for a buyer looking for timeless décor and upscale quality down to the tiniest details.
Unit 25A
Square footage: 5,400
List price: $6,250,000
This full-floor Chicago home is highlighted by three generously sized bedrooms, a private elevator entrance and a state of the art kitchen. Unit 25A provides large, open living spaces with a walnut-paneled corner library with a fireplace and wet bar, plus a state-of-the-art kitchen, marble baths and top technology.
If you’re interested in a coveted property in the Palmolive building, please give me a call to find out how long these properties have been on the market and to obtain a complete listing sheet. If you find a property that interests you, I can guide you through the legwork of getting into a sought-after unit in this prestigious building.
With more than 20 years of experience of assisting buyers of real estate in Chicago, I’ll make sure the negotiation process includes information based on cost per square foot, that I’ve done the due diligence on the property’s listing price history, and that we’ve looked at details like finishes and color palettes that could affect the future resale value of your home.
It’s important to make sure you have substantial information about a property, from ceiling heights to floor plan widths, so we can discuss the nuances of horizontal and vertical floor plans. It’s also a good idea to review the meeting minutes from the last six months to a year, plus the building’s 5-year plan so you have a big-picture perspective of buying in the building before we write up a contract.
If you’d like to discuss any of these properties further, contact agent Sheldon Salnick at (312) 264-5853 or ssalnick@rubloff.com.
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Chicago's Aqua building was awarded Skyscraper of the Year for 2009. (Image from flickr/solar wind)
Several Chicago homes for sale are in the Aqua building, from modest studios to a 2,900-square-foot penthouse, and most of these upscale residences feature hardwood floors, stainless steel appliances and a unique balcony created from the “waves” that encircle the building’s exterior. The Aqua’s condominiums start on the 53rd floor and many offer floor-to-ceiling windows that offer views of the surrounding Millennium Park, Lake Michigan, downtown Chicago and the Chicago River.
Holding its own among many Chicago condo buildings that offer supreme features, Aqua is furnished with gardens, gazebos and pools at the base level, along with a running track and fire pit for residents. For those looking for sustainability, Aqua was also celebrated for its green design, which includes energy-efficient lighting and a rainwater collection system.
But Aqua wasn’t the only Chicago real estate building recognized by Emporis. Chicago’s Trump International Hotel & Tower also made the Top 10 list of skyscrapers at No. 5. Another relative newcomer among luxury Chicago homes, Trump Tower’s residential condominiums offer a posh lifestyle backed by the Trump name. Services available to Trump Tower residences range from a white-glove doorman to a dry-cleaning and laundry valet. In the heart of downtown Chicago, Trump tower offers both superior privacy and a slew of activities right around the corner.
To narrow down your search through Chicago homes for sale , or to find a Chicago condo in an award-winning building, contact agent Sheldon Salnick at (312) 264-5853 or ssalnick@rubloff.com.
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If you’re looking for a Chicago home, location, of course, is key. But there are other significant considerations as well—how much square footage a Chicago home has to offer for your budget, and details like interior finishes and appliances. And assessments is a factor that seems to be moving toward the top of the list of things buyers look for when shopping for a Chicago home or Chicago condo, which often come at a high price for properties with upgrades and large square footage. However, there are a number of Chicago condos for sale that offer sophisticated enhancements but still with low assessment costs. Priced from $800,000 to 1.2 million, these properties have assessments that range from $195 to a maximum of $356.
The assessment cost can greatly affect the resale value and appreciation of your Chicago home, so a reasonable cost is important for you now, as a buyer yourself, as well as down the line when you’re ready to sell. For a high-rise building in a unit with a lot of square footage, assessments over $1500 typically aren’t buyer-friendly.
Combining low assessments with the best finishes money can buy is key, buyers’ want to find things like Viking or Miele appliances, steam showers, heated flooring, Dacor and Wolf appliances. Crown moldings, wainscoting and fireplaces also up the appeal of Chicago homes for sale, both for you as a buyer now, and for the buyer when your home is ready for resale.
Here 13 current listings that offer low assessment fees without compromising upscale features:
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Chicago's next luxury building, Lincoln Park 2520.
For those who have been on the fence to purchase a new downtown Chicago condo, now may be the ideal time. While several buildings downtown are still being built, new construction downtown projects in Chicago have slowed down considerably, and not much is in the window for the foreseeable future.
According to an article in last week’s Chicago Tribune, Chicago condo sales in 2009 were so dismal that no condo developments are scheduled to become available beyond 2011. Within two years, those looking to buy a condo will only be able to shop Chicago condos up for resale. The decrease in supply could also mean that condo owners can expect to see an up tick in their resale value, remember they’ve seen decline in the past two years.
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I came across this recent column in the Wall Street Journal that discussed the frantic, often excessive lifestyle that occurs in Manhattan: rents that cost more than many mortgages and offer half the space, to bumper-to-bumper traffic just out your front window, to sidewalk carts that require a trip to the ATM to pay for a snack. Even if you’re not living the life of luxury, you’re probably paying for it.
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Chicago real estate offers many options for many types of buyers—another perfect pair is a Chicago home for empty nesters. With children who are now off on their own, you might find yourself ready to downsize to something smaller, upgrade to something more luxurious or just move into a new neighborhood that lets you walk out the front door to enjoy some of Chicago’s finest activities. An urban lifestyle is a great fit for the newfound freedom of empty nesters.
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