Chicago's third tallest building with first-in-its class ultra-luxury condos
The One Mile Radius
The Residences at the St. Regis Chicago is situated in the perfect Lakevew East location to experience the full culture of Chicago. Within a single mile, residents are presented with easy access to fine dining, a variety of shopping options along the Magnificent Mile, famed Chicago attractions, and an eclectic mix of art galleries, markets, and more. In addition, the location is also ideal for maintaining a healthy lifestyle thanks to a number of studios with classes and retail locations aimed towards the health food market being just steps from the front lobby doors. Furthermore, to stay in shape or de-stress, bike
Virtual home staging is an invaluable marketing tool to capture the attention of today's buyer. According to the National Association of Realtors, more than 90% of home buyers search online during their home buying process, and properties are evaluated in seconds, based on an initial impression. You can quickly be competitive by staging your home with affordable virtual magic
Virtual staging is a better option than a price reduction
You can reduce and reduce, but buyers will unlikely look at the price unless they are first captured by an attractive photo. Virtual staging will quickly transform an empty room or one that is dated with heavy draperies and brightly painted walls. Don't risk having your property upstaged by the next pretty picture,
The Millennial Influence on the Luxury Real Estate Market
As we study the country's buying trends, we can't overlook the millennial influence on the luxury real estate market.
Millennials are categorized as individuals born between the years of 1981-1996. Most are out of college at this point, and many are well established in their careers. Due to a period of economic hardship, many millennials chose to rent for the majority of their 20s, as opposed to securing a loan. As a result, this generation is choosing to bypass the starter home and have set their eyes on something more advanced—the luxury home.
Bloomburg reported that in 2017, 23% of a luxury home building company’s customers were under the age of 35. As millennials grow older,
Luxury home buyers aren’t rookies in the real estate market. They’ve bought property before, and they have developed a taste for quality. In 2016, the housing stock in the U.S. included 7.4 million second homes. The buyers of these homes know what they like, and they aren’t looking to downgrade or compromise.
As the housing market continues to grow and evolve, we see new trends begin to pop up every year. As we inch later into 2019, buyers’ top must-haves for the remainder of this year and for the next are becoming clear. Listed below are the current top wish list items for high-end home buyers.
1. A Smart Floor Plan
Even the homes with the highest square footages shouldn’t use any of their space frivolously. Smart home buyers want to utilize
Compared to 2017 luxury condo sales for the same eight-month period, when only one property closed over $5,000,000, eight new construction condominiums at No.9 Walton contributed to the record number of fourteen sales this year. In keeping with this trend, the other ultra-luxury condominiums sold were at the Ritz Carlton Residences, The Waldorf-Chicago, and the Palmolive. Two Trump Tower penthouses also sold at noteworthy prices of $9,400,000 and $9,912,000.
Luxury Condos for Sale over $5m
Considering that eleven of the eighteen luxury condominiums for sale over $5m are brand new or yet to be built, it’s clear that new developments will continue to drive Chicago’s upscale market. Three of
