ChicagoDowntown / Loop

Trump looks down on the Ritz-Carlton

by Joe Zekas on 4/4/13

The headline describes the above view, shot from the 74th floor of Trump Tower, of the Ritz-Carlton Residences at 118 E Erie St.

The headline also calls to mind an exchange between the Donald and the Ritz sales team from August of 2006. The contretemps came in response to a report that Q2 2006 sales prices at the Ritz ($1,076 a square foot) were higher than those at Trump ($1,040 a square foot). A Crain’s report led with a quote from Trump:

Mr. Trump disputed the numbers at first, then said they were “essentially the same.” Then he shifted into sales mode.

“That just shows what a great bargain people get to be in a better building in a better location,” he said, repeating the statement in case a reporter didn’t hear it the first time.

James Kinney, president of Chicago’s Rubloff Residential Properties, which is marketing the Ritz project, said: “If you’re buying brands, do you buy Ritz or buy Trump? I think you buy Ritz.”

A small flurry of new listings at the Ritz hit the MLS yesterday, and the asking-price spread over Trump appears to have widened, based on a small sampling of units available. The Ritz’s Unit 35E is listed at $3,081,172, which equates to $1,252 a square foot. Unit 33E is listed at $3,387,426 and $1,251 a square foot. Unit 74F at Trump Tower, a high-floor, east-facing home from which we took the above shot, is listed at $1,795,000 or $920 a square foot.

The Ritz launched its sales effort in February of 2006. Sales at Trump began in September of 2003.

Share:
  • Facebook
  • Google Buzz
  • Digg
  • LinkedIn
  • StumbleUpon
  • del.icio.us
  • Google Bookmarks
  • Live
  • Posterous
  • Reddit
  • Technorati
  • Tumblr
  • email

No related posts.

{ 3 comments… read them below or add one }

Mike April 4, 2013 at 11:58 AM

Why anyone would want to live on Michigan Avenue, I’ll never know.

Reply

Joe Zekas April 4, 2013 at 12:02 PM

Mike,

Does that mean you’ll never ask any of the 10s of 1,000s of people who live on Boul Mich?

Reply

Simon April 5, 2013 at 7:05 PM

Prestige

Reply

Leave a Comment

Previous Post:

Next Post: