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After chatting about the state of Chicago’s luxury market, Tricia Fox of Keller Williams Gold Coast Realtors took me through a couple of her listings inside the Trump International Hotel & Tower Chicago, 401 N Wabash St. Many of Fox’s Trump listings are units investors secure within the first few days of pre-sales, meaning they spent much less on their homes than what the developer is asking now and can sell well below Trump’s asking prices while still turning a profit.
Take for example this 3,100 square-foot, three-bedroom condo, located on the tower’s northeast corner. Trump is still marketing homes in this tier for as much as $3.3 million, but Fox has listed hers at $2.5 million. As you’ll see, the home’s views are hard to beat, with floor-to-ceiling windows offering exposures from the west (almost straight down Ohio Street) all the way around to the Cloud Gate and Buckingham Fountain to the southeast.
Hear more about the Trump resale market later this week in a segment from my interview with Coldwell Banker agent Jenny Ames.
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It would be interesting to see if the buyer of the unit with the terrace tries to get approvals for building a trellis or permanent roof structure over part of it for privacy. It would be something of a design challenge to do so without blocking any views from the units on the floor above. If the structure is set back far enough from the edge, I think it can be done. It would be a bummer if the association rules prevented this entirely.