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We Have A Sale!

Crain's is reporting that 3 condos priced over $3M a piece sold last month at the Park Tower at Chicago and Michigan. The tower sits atop the Park Hyatt and accounts for 117 of the priciest condos in town. Prior to this flurry of sales, only 4 building units had sold all year. This activity belies the honest truth of the downtown luxury market: there's not a lot goin' on. All of the units had come down in price, but none more than the 4,200 sq. ft., 53rd-floor unit that started out at $4.75M and sold for $3.18M. Feeling left out? There's still 12 more on the market at Park Tower. [Crain's]