Today's news: New listings for Ritz-Carton Residences reach $1,336 a square foot

by Joseph Askins on 5/20/10

Ritz-Carlton Residences, 664 N Michigan Ave, ChicagoWhat, you thought we’d entered some new age of frugality and thrift? Not on the Mag Mile! Ritz-Carlton laughs in the face of a down market!

Jane Shawkey of Prudential Rubloff has just seven new selections from the Ritz-Carlton Residences‘ inventory of 89 super-luxe condos at 664 N Michigan Ave, and each one of them’s a doozy compared to just about everything else that’s hit the market lately. (Never mind the fact that these are pre-construction prices — the 40-story, Lucien Lagrange-designed tower won’t be finished until next year at the earliest.)

The smallest and least expensive, a 1,398 square-foot, one-bedroom / 1.5-bath on the tower’s 25th floor, clocks in at $1.45 million, or $1,039 a square foot. But let’s face it — that’s chump change. If you want a three-bedroom / 3.5-bath on the 38th floor, get ready to shell out $4.76 million, or $1,336 for each of its 3,566 square feet.

Want a deeded parking space? Sure, cut a check for $35,000 like every one else — just make sure you have another one for $65,000 to go with it. Want to talk assessments? $1,209 to $4,116 a month. Such is the price of luxury.

All of the Ritz-Carlton Residences will have 9-8″ to 12-foot ceiling heights, balconies, and a custom finishes offered by Darcy Bonner Associates. The tower is slated to have a two-story club level with a fitness center and spa, a screening room, an institutional-grade kitchen, and an outdoor deck.

The seven units now listed include:

One-bedroom / 1.5-baths:

  • Unit 25D: 1,398 square feet, priced at $1.45 million.

One-bedroom / 2.5-baths:

  • Unit 31F: 1,908 square feet, priced at $2.22 million.

Two-bedroom / 2.5-baths:

  • Unit 19C: 1,885 square feet, priced at $2.06 million.
  • Unit 20A: 2,409 square feet, priced at $2.8 million.
  • Unit 30E: 2,429 square feet, priced at $2.98 million.
  • Unit 34G: 2,838 square feet, priced at $3.25 million.

Three-bedroom / 3.5-baths:

  • Unit 38K: 3,566 square feet, priced at $4.76 million.
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