Here are 10 key things to think about when purchasing luxury real estate in Chicago.

1. Location. Sure, this seems obvious, but it’s important to consider your lifestyle when shopping for Chicago homes for sale and think about how that will factor in. If you have children, are you close enough to their school? If you’re empty-nesters, perhaps you want to be near the excitement of Michigan Avenue.

2. Unit differentiation. Two different three-bedroom Chicago condos for sale could have drastically different square footage, floor plans or views. I recommend buyers see how a specific unit they want to purchase compares to the rest of the units in the building.

3. Building differentiation. Luxury real estate buyers want to see a sophisticated, upscale look as soon as they enter the building’s lobby. Buyers typically take note of the number of doormen, the ambiance of the building and if the units have ceilings of 9 feet or higher.

4. Details and finishes. I suggest clients make a point of looking for details like genuine wood flooring, customization of baseboards and ceiling moldings and top-of-the-line kitchen appliances. These finishes are key for those looking for the ultimate in luxury, and is also important to consider when thinking about a home’s resale value down the line.

5. Services. Chicago real estate buyers must consider what amenities and concierge services they are looking to have at their service as a resident of a particular building. Think about outdoor space and event rooms, and if the building offers concierge services that apply to your lifestyle.

6. Lifestyle. I’ve always probed buyers to think of any lifestyle issues that would be important to consider when purchasing luxury real estate in Chicago. For example, if a client is a major art collector, factors like building security, wall space, ceiling height and light issues should all be taken into consideration to optimize that lifestyle. For architecture buffs, we might focus on buildings with architectural significance, like 880 Lake Shore Drive, which was designed by Mies van der Rohe.

7. Décor. Once you’ve moved in, of course the décor of a Chicago home or Chicago condo is up to you. But the building itself may not be optimal for just any upgrades or changes. For example, if a building has concrete walls, think twice about putting moldings on the unit’s ceiling, so as not to compromise the property’s integrity and future resale value. For luxury real estate in Chicago, I think its most important to take decorating cues from the ambiance of a building. Whether its vintage and classic or modern and minimalist, you’ll want to ensure your unit fits in so future buyers can know what to expect.

8. Cost per square foot. The best way to evaluate a unit’s price is to take into account the cost per square foot. This way, you can compare it to various buildings in Chicago, plus real estate properties on the east and west coasts and around the world. The high end of luxury real estate in Chicago falls around $1,200 per square foot and is still less expensive than other parts of the United States.

9. Building assessments. Many more buyers are hunting for luxury real estate that doesn’t come at the cost of enormous monthly assessments. The assessment costs can greatly affect the resale value and appreciation of the property, so it could be worth it to find a luxury Chicago home that has a monthly assessment that is not excessive.

10. Building plan. A building may look pristine inside and out, but I believe it’s important to be as diligent about the building as you would the unit itself. Buyers should consider a Chicago condo building’s 5- or 10-year plan, its cash reserve, and if the building is financed through a loan to ensure it meets their expectations.

To begin your search for luxury real estate in Chicago, please contact agent Sheldon Salnick at (312) 264-5853 or email him at ssalnick@rubloff.com.

Chicago's luxury buildings offer concierge services and amenities for your every want and need.

Chicagoans aren’t the only ones taking note of all the city has to offer. Chicago real estate developers are creating even more options in luxury living for those looking for the best amenities and services a big-city residential building can offer. Chicago currently has several buildings that cater to your every need, from treating its residents to the finest wines, to welcoming guests, to setting up events and meetings or getting dinner delivered to your door at 2 a.m. The concierge services in these buildings can indulge most any resident’s wants and desires.

In addition to tremendous services, the staff at these buildings knows how to assist anyone from a Fortune 500 CEO to a Hollywood celebrity to world leaders. They are skilled in dealing with any situation and to handle and respect the privacy of their upscale residents.

These 7 buildings offer the most prestige among Chicago real estate:

Trump Tower: One of the newer examples of luxury among Chicago homes, Trump Tower’s residential condominiums offer a posh lifestyle backed by the Trump name. With services from a white-glove doorman to a dry-cleaning and laundry valet, Trump Tower is a prime location for those ready to be wined and dined right in their own home. Nestled right in downtown Chicago, the building offers both superior privacy and a slew of activity just a few steps away.

Ritz Carlton: Scheduled to be completed in mid-2011, Michigan Avenue’s much buzzed-about Ritz Carlton is expected to be a prominent collection of prominent Chicago condos. The name Ritz Carlton alone ensures that the services will be first-class, much like a private club. This building was so anticipated that one-bedroom units have already sold out, and one has even resold for $100,000 more than the original sale.

The Palmolive: With about 100 luxury Chicago condos inside, this landmark building delivers a panache like no other. The building’s staff ensures services are at your beck and call, and have a keen sensibility and sense of privacy surrounding its residents, as a number of famous people call the Palmolive Building home. The building’s elegance is apparent inside and out, and considered to be one of the finest examples of art deco architecture in the world.

Elysian: This experience in Gold Coast luxury just opened, bringing grand residential Chicago condos paired with fine dining, upscale shopping and the building’s own 14,000 square foot health club and spa. Elysian also combines superior concierge services with the comfort you seek in a home. A simple drive up to the doors of Chicago real estate’s new addition will take you to another world.

800 Michigan Ave.: These North Side Chicago condos are virtually connected to the Park Hyatt Hotel below, allowing residents to take full advantage of all the hotel services. Also part of the Park Hyatt is NoMI, a world-class French restaurant considered to be one of city’s most chic. Valet parking, supreme security features and a world-renowned spa and just a few of the amenities that 800 Michigan Avenue has to offer.

Ten East Delaware: In the heart of Gold Coast, 121 luxury Chicago condos are currently being built to boast classic architecture, coveted interiors and a scores of private amenities and services. The building will offer a residents-only private club, geared to remove you from everyday life and provide unassailable views of Chicago’s skyline. Residents can also take advantage of all the hotel services offered by the neighboring Talbott Hotel.

2520 Lincoln Park: Slated to be the most elegant and prestigious place to live in Lincoln Park, this building will offer spectacular views that rival those of New York’s Central Park. Down to the smallest details, residents’ needs and wants will be answered by 2520’s unmatched amenities and services. If you think a Chicago condo won’t offer enough space for a family, 2520 is a building offering sprawling square footage, as well as a location directly across from Lincoln Park. Lincoln Park 2520 is also a short drive to two of the cities best private schools, Latin and Parker.

If you’d like to find yourself settling into the life of luxury that Chicago offers, contact Chicago real estate agent Sheldon Salnick at (312) 264-5853 or ssalnick@rubloff.com.

If you are thinking of buying or selling a Chicago luxury home or condo ($500,000 or over), consider this incentive!

List your property with Sheldon Salnick, or purchase property through him (before January 1, 2010), and he will provide 10 hours of free decorating services for the buyer with Joseph Rice Interiors, Inc.!

These ten hours of consultation may be used for any number of things such as color selections, furniture shopping, space planning, furniture and accessory placement, accompanied visits to the Chicago Merchandise Mart, and many other consulting services that a decorator provides!

With over 25 years of experience, Joseph Rice provides full decorating services and specializes in window treatments. He has completed work in many Chicago luxury buildings including 1550 North State, 600 North Fairbanks, 30 West Oak, and 55 East Erie, among many others. He is particularly adept at helping clients create a new home using existing furniture and accessories with additions as needed.

Visit www.SheldonChicago.com for information based on 20 years of experience and consider this added value when choosing a realtor!

You can bring along Fido and Fifi. Yes, the building allows pets. Live in luxury without having to give up your furry loved ones.

Details make these Chicago luxury homes one-of-a-kind, and they feel more like houses than condos. I’ve been in real estate for more than 20 years, and I must say that unit 10FG in particular is one of the most exquisite Chicago luxury condos I have ever seen: In addition to the amenities you’d expect in Chicago luxury condos for sale—smart home technology, a butler’s pantry off the kitchen, a Miele dishwasher and sub-zero refrigerator, to name a few—unit 10FG has unique features such as:

-14-foot ceilings (it’s the only floor in the building that has them)
-Coved ceilings that are unique to the living room, dining room and kitchen
-Custom designed Parenti millwork

(For more information about unit 10FG, contact Sheldon Salnick at 312-264-5853 or email him at ssalnick@rubloff.com.)

You’re living in a piece of history and a landmark. The revered architecture firm Holabaird & Root designed the Palmolive Building in 1929. It’s considered one of the world’s finest examples of art deco architecture. From 1967 to 1900, Playboy was emblazoned on the building’s exterior and the building served as the magazine’s headquarters. In 2000 the Palmolive building was designated as a Chicago landmark and it was put on the National Register of Historic Places in 2003. It was changed into luxury Chicago condos in 2003, with occupancy beginning in 2006.

You’re right in the middle of everything. The Palmolive Building is right at the heart of Michigan Avenue, otherwise known as the “Magnificant Mile.” All the most luxurious shopping Chicago has to offer is just blocks away, as is Lake Shore Drive and the beach along gorgeous Lake Michigan.