The busiest buildings in Streeterville

474 N Lake Shore Dr, ChicagoAnytime I bring up Redfin‘s past sales information, I feel the need to qualify that the information isn’t entirely accurate — to my knowledge, most of the past transactions you find through Redfin are homes that were listed on the MLS, which means you aren’t getting complete picture of everything moving around, especially in new-construction buildings where exclusive brokers tend to only list sample units. That said, Redfin’s data are better than nothing at all, and certainly easier to access on a neighborhood-wide basis than the Tribune’s valuable but irregularly updated Cook County sales database.

This is all prologue to an otherwise simple post looking at recent sales activity in Streeterville. This morning, after reading Dennis Rodkin’s new article on luxury condo sales in the downtown market, I downloaded a spreadsheet of closings and new contracts to find out which high-rises have been busiest over the past six months. Not surprisingly, the five buildings that saw the most sales since mid-January are also very big, very dense developments. It’s possible that smaller buildings saw more activity proportionally, but it can be tough to delve that deep.

Streeterville’s top five locations from January 14 to today, according to Redfin, are:

474 North Lake Shore, 474 N Lake Shore Dr (pictured above): 18 sales in six months

  • 13 units closed; median sale price: $231,000
  • Five sales pending; median list price: $279,900
  • 38 studios to four-bedrooms listed from the $150s to $1.89 million; median list price: $299,650
  • 61 stories, 505 units total
  • Designed by Dubin, Dubin, Black & Moutoussamy, completed in 1991

Esplanade Apartments, 900-910 N Lake Shore Dr: 18 sales in six months

  • 14 units closed; median sale price: $217,500
  • Four sales pending; median list price: $329,950
  • Six one- and two-bedrooms listed from the $330s to $850s; median list price: $480,253
  • Two towers, 28 stories each, 524 units total
  • Designed by Ludwig Mies van der Rohe, completed in 1955

Lake Point Tower, 505 N Lake Shore Dr: 16 sales in six months

  • 13 units closed; median sale price: $518,500
  • Three sales pending; median list price: $389,000
  • 36 one- to three-bedrooms listed from the $260s to $2.25 million; median list price: $644,000
  • 70 stories, 720 units total
  • Designed by Schipporeit-Heinrich Associates, completed in 1968

ParkView Condominiums, 505 N McClurg Ct: 16 sales in six months

  • 13 units closed; median sale price: $480,500
  • Three sales pending; median list price: $591,500
  • Seven one- to three-bedrooms listed from the $410s to $1.93 million; median list price: $599,500
  • 49 stories, 268 units total
  • Designed by Solomon Cordwell Buenz, completed in 2008

John Hancock Center, 175 E Delaware Pl: 15 sales in six months

  • Eight units closed; median sale price: $422,000
  • Seven sales pending; median list price: $400,000
  • 32 studios to four-bedrooms listed from the $220s to $1.7 million; median list price: $509,500
  • 100 stories, 705 units total
  • Designed by Skidmore, Owings and Merrill, completed in 1970

Returning to my earlier caveat, note that Pearson on the Park, 222 E Pearson St, reported a net increase of 20 sales in 1Q 2010 to Appraisal Research Counselors this spring, but Redfin only shows seven closings at a median price in the $260s and four new contracts with a median price in the $240s at the building. Grains of salt, people — grains of salt.

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