Ritz-Carlton Residences near halfway point in sales

Ritz-Carlton ResidencesBack in the good old days (2006, to be exact), the Ritz-Carlton Residences high-rise made headlines for its Trump-topping average price per square foot. The Ritz’s super-luxe condos clocked in at a whopping $1,076 per square foot, a whole $36 more on average than Trump’s residences. I don’t have the Spire‘s average price per square foot in front of me, so I don’t know if it has since ascended to the top of Money Mountain, but I think it’s safe to say that the Ritz is still near the top of the heap.

If you sift back through the Yo archives, you’ll notice a considerable lack of Ritz-Carlton updates. Maybe the staff figured the average Yo reader wasn’t the kind of person who could drop $1.4 million on a one-bedroom. Don’t let our silence fool you into thinking that nothing’s happening at 664 N Michigan Ave, though – construction is underway and sales have almost reached the 50 percent mark, says sales agent Jane Shawkey.

Approximately 39 of the tower’s 86 units have sold, and the project is beginning to run low on its least expensive one-bedroom homes, Shawkey says. Moving up the ladder in both price and size, a few of the lowest-priced two-bedrooms are still available starting at $1.9 million. The 1,882 square-foot units have views to the east onto Michigan Avenue and to the north toward Oak Street Beach. You can see the layout for those units below.

Prices for the rest of the Ritz-Carlton’s two- and three-bedroom condos make their way well past $3 million, and its sky-high, half-floor penthouses can go for as much as $13 million.

The 40-story building should be ready for first deliveries by July 2010, Shawkey says.

Ritz-Carlton Residences

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