River West: Part of the West Loop community, River West offers several options in Chicago condos, including loft conversions, renovated flats and townhomes. The area is home to many traditionally charming restaurants, bakeries and shops, along with a few of the city’s best restaurants and cafes along Randolph Street.

City Center: City Center is a part of the Loop officially, but maintains its own community feel among its residential and commercial buildings along the Chicago river. A Chicago condo in City Center puts you literally front and center to Chicago—easy access to dining, nightlife, transportation, and just about anything else you can think of. Chicago real estate options in City Center include 60 E Monroe, a brand new contemporary building with 2, 3 and 4-bedroom Chicago condos that offer views of Millennium Park and the Chicago skyline and includes certain amenities of the adjacent University Club, which is connected to the building by a sky bridge. City Center is also home to The Park Monroe at 65 E Monroe, condos that feature floor-to-ceiling windows, private terraces and its signature rooftop garden with views of Lake Michigan.

The View from the Park Monroe in Chicago's City Center

Millennium Park: Several Chicago condo buildings give residents spectacular views over one of the city’s main attractions, Millennium Park, located in the East Loop. The close proximity to the park means there is plenty to do throughout the year, from a lakeside stroll in the spring to outdoor festivals and concerts in the summer to ice skating in the winter.

Old Town: While parts of Old Town (which goes up to Armitage on the north) wouldn’t quite be considered downtown Chicago, the area south of North Avenue are certainly on the northern edge. This community is a prime location for those looking for Chicago homes that are in the city but have the feel of a residential neighborhood. Real estate in Old Town brings a vintage vibe through unique architecture, brick construction, townhomes, high-rises with lake views and more. It’s also home to Chicago’s famed Second City comedy club, as well as many boutique shops and trendy restaurants.

If you’re interested in real estate in downtown Chicago and finding the property that fits your needs and lifestyle, contact agent Sheldon Salnick at (312) 264-5853 or by email at ssalnick@rubloff.com.

The Residences at Riverbend in Chicago's River North (image from www.riverbendchicago.org)

River North: Tucked directly northeast of the Chicago River, River North has much to offer by way of nightlife, fine dining and entertainment. Buildings like the famed Trump Tower, which includes some of the best luxury real estate in Chicago. Backed by it’s name and reputation, Trump Tower residences allow residents to live a life of privacy and prestige in the heart of the city’s activities. For truly spectacular views of the city day or night, the Residences at Riverbend (333 N. Canal) building lies right along the Chicago River and offers every unit an eastern panorama.

The Loop: Bordered the Chicago River and Roosevelt Road (north/south) and Interstate 90/94 and Lake Michigan (west/east), The Loop is the Chicago neighborhood we can thank for the city’s gorgeous skyline. It’s also home to some of the city’s most sensational architecture, both among the business buildings and the residential buildings tucked throughout. When it comes to Chicago real estate in the South Loop, you’ll primarily find high-rise condos and lofts, some with very upscale amenities and services. The Loop’s central location puts you right by any activity imaginable, whether it be an all-day shopping spree, a lakefront bike ride, sightseeing or many other pursuits right out the front door of your Chicago home.

Printers Row: This eclectic South Loop neighborhood just had its Annual Book Fair, which brings booksellers and readers to the community to fulfill their literary desires. Many of the Chicago condos and lofts in Printer’s Row are old printing plants and publishing houses turned into fine real estate options. While one of the city’s smaller communities, Printers Row maintains a quieter neighborhood feel while being just a stone’s throw from the city’s busy atmosphere.

Buildings in Chicago's New East Side Neighborhood include Aqua and 340 on the Park (image from flickr/orijinal)

The New East Side: The New East Side is, in effect, a planned community of new luxury buildings and townhomes. The area includes Aqua, a much-talked-about architectural addition to the Chicago skyline that was even named Skyscraper of the Year. The New East Side offers many wonderful, unobstructed views—views to the south even rival those of Central Park in New York. Another sought-after building 340 On the Park, the first residential tower in the Midwest to achieve silver LEED certification for its green design. The New East Side also includes a six-acre park as a centerpiece of the neighborhood and includes a soon-to-be-developed elementary school in the community’s master plan.

South Loop: Bordered by the bustling loop and the serenity of Lake Michigan, the South Loop has much to offer. Grant Park and Millennium Park are a short walk away and can be enjoyed year round. When it comes to Chicago real estate, the South Loop has many urban offerings of condos and townhomes that allow residents to ditch their commute if they work in the Loop. Old warehouses and industrial buildings are becoming coveted pieces of modern Chicago real estate in the South Loop. An ideal place for both younger generations looking to live in the heart of activity, as well as families with children who want the close proximity of many city activities.

While there’s always some debate on where one Chicago neighborhood begins and another ends, I’d like to break down the communities that lie within the borders of downtown Chicago. We’ll start with a few: Gold Coast, East Lake Shore Drive, Cathedral, Streeterville and River North:

Gold Coast: If you’re looking for the best in luxury real estate in Chicago, chances are you’ll find it here—the wealthiest neighborhood in the city. Bordered by North Ave. and Chicago Ave., Gold Coast boasts exclusive boutiques located on Oak Street and chic lounges and bistros tucked away amidst the elegant vintage brownstones and greystones. The Gold Coast is where Chicagoans go to experience the good life. Chicago homes in Gold Coast vary from studios to high-rise condos to mansions along the shore of Lake Michigan.

Greystones in Chicago's Gold Coast (image from flickr/Monika Thorpe)

East Lake Shore Drive: If breathtaking lake views are on your wish list for your Chicago real estate purchase, the buildings along East Lake Shore Drive will deliver. This historic district is located within Streeterville and includes several of the lakefront’s most prestigious Chicago condo buildings that were even named a Chicago landmark 25 years ago. East Lake Shore Drive is home to the historic Drake Hotel and one of the city’s best waterfront areas—Oak Street Beach.

Cathedral: Roughly located west of the Magnificent Mile to LaSalle Street, the Cathedral District has been branded by the presence of the Holy Name and St. James cathedrals. This community doesn’t have set-in-stone boundaries that differentiate it from the Gold Coast, and many would consider Cathedral to be a part of the Gold Coast neighborhood. Many new, posh residential buildings lie among the historic architecture in Cathedral—55 E Erie, a luxury building with 9.5-foor ceiling heights; 50 E Chestnut, where each lavish unit takes up an entire floor; and 800 Michigan Avenue, a newer luxury building that gives residences access to concierge services at the neighboring Hyatt Hotel. Michigan Avenue will also be home to the brand new Ritz-Carlton Residences—ultra-luxurious condominiums that pairs the Ritz-Carlton’s 5-star hotel service with the privacy of a boutique residence.

Lake Point Tower in Chicago's Streeterville (Image from flickr/lauren manning)

Streeterville: Home of the Magnificent Mile, one of the country’s most elite shopping strips with shops like Saks Fifth Avenue, Neiman Marcus and Bloomingdale’s. Streeterville is home to Navy Pier and the luxury condominiums in the 70-story Lake Point Tower. These Chicago condos offer unmatched, unobstructed lake and city views, a private park and 24/7 uniformed doormen.

Near North: The Near North community, lying roughly between the Chicago River and Chicago Avenue and Michigan Avenue and La Salle Street, encompasses many small neighborhoods within it. It is an affluent neighborhood that includes many posh residential real estate options, including lofts, mid-rise buildings and townhouses. Near North is also a great community for art aficionados, with many galleries and interior design studios nearby.

A rendering of the Ritz-Carlton Residences on Michigan Avenue. From theresidenceschicago.com

Even with the citywide slowdown in new construction of condos, one building is still creating a lot of buzz and anticipation among real estate in Chicago: The Ritz-Carlton Residences on Michigan Avenue.

Scheduled to begin delivery in mid-2011, the Ritz-Carlton Residences will be the premiere building for a niche group of buyers looking for superior hotel service without sharing amenities with the public or hotel guests. These residences offer ultimate privacy in a very boutique building with amazing services provided by the Ritz-Carton. Because the building will be operated and managed by Ritz-Carlton trained staff, it will require the best service imaginable, at the level of their 5-star hotels.

The developer of this prestigious building has been sure to differentiate the Ritz-Carlton Residences from any other Chicago condo building, ensuring that all 89 units will bring the cachet of the top luxury buildings in New York, San Francisco, London, Toronto and Tokyo.

The unique services offered will set the Ritz-Carlton Residences far and above any other building in the city. Here are a few of the most important reasons why these Chicago condos will be in a class all its own:

Staff services. The staff will be trained to handle the most demanding and unique needs of corporate executives from around the world. A Ritz-Carton trained staff means there is an understanding of privacy—if you are a well-known personality, chairman or financial manager, such discretion is often required. The services offered will also go down to the finest detail, making the building feel like an exclusive hotel.

Business services. The Ritz-Carlton Residences’ private club, The Landmark Club, will include a Grand Salon & Board room with 18-foot-high ceilings that can be reserved for private meetings. These business service areas will include a bar and coffee services with upscale offerings. A screening/media room will allow residents to have business presentations with clients and access the most up-to-date communications equipment, so meetings can instantly span around the globe if needed.

Décor. The décor will have the sophistication of the most understated, elegant spaces that are usually found in luxury buildings in major cities around the world. Each unit can be customized with the finishes and appointments that fit an individual’s taste, whether it be traditional or modern.

Details. Wine connoisseurs will feel at home in the Ritz-Carlton, as each home will have their own personal wine cabinet with a 36-bottle capacity. Owners will have a private key, so only he or she can access their private collection.

Spa Amenities. Spa services will be available from morning until early evening, and can be arranged with ease through the concierge.

Fine Dining. A staff chef will provide seasonal lunch and dinner menus and offer private dining in your unit or in the luxurious dining room from late morning to early evening.

Sophisticated technology. The entire Ritz-Carlton building will include Smart Home Technology, including Internet protocol phones that provide multi-functionality. For instance, residents will have access to the Wall Street Journal, concierge and valet services through these phones located in their kitchens.

Click to enlarge: A floor plan of a 2-bedroom unit in the Ritz-Carton Residences. From theresidenceschicago.com

Agent Sheldon Salnick can provide you with floor plans and take you to the sales center to see the options available for these luxurious units. To set up a personalized, confidential meeting, call (312) 264-5853 or email ssalnick@rubloff.com.

One of those options is the Park Monroe, located at 65 East Monroe. I sold a unit there in 2009 for $1.277 million—what sets the Park Monroe apart from other luxury Chicago real estate is the cost per square foot, which is a great way to compare one building unit to another in terms of cost. At the Park Monroe, the cost of the unit I sold was approximately $500 per square foot, including parking. A comparable building, 900 Michigan Avenue, costs close to twice that at $1,000 per square foot. These Chicago condos also offer spacious, open units with luxury finishes and appliances, 10-foot ceilings and floor-to-ceiling windows.

A major perk of downtown Chicago real estate is obviously location. The Park Monroe is a 10-minute walk from LaSalle Street, Wacker Drive, or virtually any other location downtown. Many residents with a downtown Chicago home are in love with the close proximity to the city’s culture, from the symphony, Millennium Park, the Art Institute, the Harris Theatre and the Chicago Cultural Center. And many residents of the Park Monroe are able to walk to work, avoiding a daily struggle with traffic and transportation.

If you’d rather stay even closer to home, a Chicago condo inside the Park Monroe has plenty of options right inside the building. An indoor-length lap pool, whirlpool spa and club-caliber fitness center make it easy to be recreational as well as get relaxed and rejuvenated. The premier city views can be enjoyed from the Park Monroe’s rooftop garden, where you’re surrounded by a panorama of Lake Michigan, and the city. Many residents at the Park Monroe can host Fourth of July parties at home and still soak in Lake Michigan’s fantastic fireworks show. For night’s in, a big-screen theater and entertainment suite are just a few floors away from your Chicago home.

Having sold a Chicago condo in the Park Monroe, I’ve worked with this developer and know there is room to negotiate the cost. I can also tell you which units are most ideal for your Chicago real estate purchase, depending on your lifestyle and how each unit might fit into that. If you’re searching for a second home or are a frequent traveler, the Park Monroe is in a convenient location from the airport. For shoppers, Michigan Avenue’s magnificent line of designer stores is just a few blocks away.

Park Monroe has several listed Chicago homes for sale, and I’d be happy to walk you through what this building has to offer. To learn more about Chicago homes for sale in the Park Monroe, contact agent Sheldon Salnick at (312) 264-5853 or email him at ssalnick@rubloff.com.

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.

Securing a Chicago new construction condo isn’t yet impossible. Two buildings slated for 2011 are Lincoln Park 2520 and the Ritz-Carlton Residences on Michigan Avenue.

Lincoln Park 2520 will be a 39-story luxury building overlooking Lincoln Park’s North Pond and offering sweeping views of Lake Michigan. Along with spacious floor plans for the individual units, Lincoln Park 2520 will offer its residents concierge services, a gym, and a private theatre.

The 88-unit Ritz-Carlton Residences offer luxury one-bedroom condominiums up to 6,500-square-foot penthouses, all with the most superior architecture and design. A wine cellar, board room and state-of-the-art spa and health club are just a few of the amenities in the Ritz-Carlton Residences.

If you’re itching to get into a new Chicago condo now, there are also several options for you to take advantage of this time to buy. Luxury residences available now include those in the Trump Tower, which puts you in the heart of downtown Chicago but with the ultimate privacy in one of the buildings 468 units.

The Elysian boasts comfortable luxury living in the Gold Coast with world-class service. From in-room dining to the building’s spa and health club, the Elysian promises its residents the finest amenities, down to the smallest detail.

Another option is a one, two, or three-bedroom condo at The Residences at 900 Michigan Ave. Within the building, you’ll find premier shopping as well as a fitness center, and each residence beautiful design, spectacular city views, and top technologies to control your home.

Finally, a new luxury building at 50 East Chestnut puts you in the heart of the Gold Coast with the exclusivity you’ll only find here: with 34 full-floor residences, each resident has the ultimate privacy for Chicago real estate, not to mention a coveted location with exquisite building amenities.

If you’d like to get into a Chicago condo while they are still available, contact agent Sheldon Salnick at (312) 264-5853 or by email at ssalnick@rubloff.com.

For one, a Chicago home or Chicago condo is going to be far more affordable than a similar space in New York, Washington, San Francisco or Los Angeles. Even if those empty bedrooms mean you want to upgrade into something a bit more lavish, Chicago real estate offers many options for luxury living at a fraction of the cost of other metro areas. You can buy into the city’s more prestigious buildings with the ultimate services and amenities for about $1,200 per square foot—this compared to the “average” apartment that amount would buy you in New York City.

And with plenty of time to indulge, empty nesters can enjoy some of Chicago’s premier shopping destinations like Louis Vuitton, Hermes, Chanel, Chloe and Barneys, not to mention the Magnificent Mile. Culti, an Italian luxury brand that sells everything from leather slippers to sleek furniture, even recently chose Chicago as the home of it’s first U.S. boutique, right in the heart of Michigan Avenue, which will surely add to the area’s high stature in shopping. A home in Chicago’s Gold Coast will put you within steps of shopping and activities, and many other neighborhoods are dense enough that museums, theatres, music and dining are within walking distance of your front door.

If you’re ready to escape to the great outdoors, a Chicago home near the lakefront will put the beach at your fingertips, whether it’s to get some sun or to have an evening stroll through the sand. I recently saw this quote from fashion designer Michael Kors that sums up the value of Chicago real estate quite well: “Chicago is the perfect city for me. I’m a beach bum and a city boy, and where else could I walk to my store on a glamorous urban street, then change into board shorts and head to Oak Street Beach?”

Another thing that sets Chicago real estate apart from other major cities is that if you’re an empty nester looking for space, you can find it. In fact, you can purchase an entire floor within the brand new 50 E. Chestnut building, which offers supreme luxury living with only one unit on each floor. Where else can one buyer find 3,904 square feet of real estate all to themselves? Such a space runs about $2.8 million, plus this Chicago new construction building promises floor-to-ceiling windows, stone finishes and private terraces among the 34 units.

Chicago has much to offer, whatever your lifestyle may be changing to. To find out more, please contact agent Sheldon Salnick at (312) 264-5853 or by email at ssalnick@rubloff.com.

Moreover, now is the time to get a great deal on a Chicago condo. Almost every neighborhood in Chicago has a different feel – there are renovated industrial lofts in Wicker Park, townhomes in the North Side neighborhoods that keep your close to all the action of downtown but maintain that neighborhood feel, or stunning high rises in the Loop designed by world class architects

In addition, Chicago icons such as Barack Obama, Oprah, Vince Vaughn, Michael Jordan, and Kanye West all call Chicago home. Each one would be sure to say that Chicago is one of the best cities in the world. The summers are filled with special events and festivals, and you can enjoy great restaurants, shopping, museums, and parks all year round.

Of course, another reason to move to Chicago from the coasts is that you can live in luxury at affordable prices, making it an ideal place to raise a family or invest in a second home. Enjoy roomy floor plans designed with spacious bedrooms with lots of closet space, top of the line kitchens, and huge windows with gorgeous views or the city or lake.  Many condo buildings also offer rooftop decks, allowing you to relax in style high above the city streets, as well as amenities convenience stores, valet parking, dry cleaning services, car services, fitness centers and spas.

To explore your Chicago real estate options, call or email Chicago real estate Sheldon Salnick.