October in review: Looking back at sales in the Downtown / Loop market

The Palmolive Building - 159 E Walton StYesterday’s news of a $5.25 million resale at the Palmolive Building (right) had me wondering what else sold in the downtown market this October. I pulled up Redfin’s sales records for downtown’s 14 ZIP codes (60601-60608, 60610, 60611, 60616, 60622, 60654, and 60661), tossed everything into a spreadsheet, and started sifting and sorting through the month’s transactions. Here’s what I found:

  • Top condo sale: Unit 25A at the Palmolive Building, 159 E Walton St in Streeterville. No surprise here; as Crain’s reported, that $5.25 million closing price is the highest anyone has paid for a condo resale this year. The 5,400 square-foot, three-bedroom / 3.5-bath home was originally priced at $6.25 million.
  • Top townhome sale: 472 N Canal St, in the Fulton River District’s Kinzie Park community. This 2,000 square-foot, four-bedroom / 3.5-bath short sale closed at $950,000, down considerably from its original January list price of $1.35 million and its August 2006 sale price of $1.38 million.
  • Top single-family sale: 25 E Banks St, in the Gold Coast. This 13,500 square-foot, eight-bedroom home sold for $6.8 million, slightly less than the amount reported when it went under contract in September. The home sold in 1999 for $4.2 million and went on the market in April for $9.5 million.
  • Busiest development: Ontario Place, 10 E Ontario St in River North, with seven sales. Five one-bedroom condos with 765 to 900 square feet sold from the $150s to $180s; two two-bedrooms, each with 1,390 square feet, sold in the $330s and $360s.
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