Chicago’s luxury market had a record year with 138 transactions above $4M by November— eclipsing 2023’s record of 136. Downtown luxury condos are experiencing a resurgence. At One Chicago, an $8.93 million sale set the building’s record. At Cirrus in Lakeshore East, 60% of 2025 contracts went to second-home buyers. Gold Coast, Streeterville, and River North saw renewed activity in the $500K-$3 million range. Brokers reported 17 showings per day versus the usual 10. But luxury inventory over $2 million dropped 48.1%, creating scarcity that’s driving competition. Key Advantage: Chicago is increasingly viewed as a climate- safe investment haven. Buyers are moving money from coastal markets plagued by fires, hurricanes, and insurance crises.
T
ES
Made with FlippingBook Online newsletter