This year’s “it” building is Vista Tower which anchors the top 25 most expensive home for sale right now. In 2019, the premier building was No. 9 Walton—the sales there dominate the list of priciest sales in Chicago for the year. One Bennett Park was up there, too. It was mostly condos in downtown luxury towers that fetched multi-million dollar price tags. There were a few homes in Lincoln Park, a neighborhood that’s become less popular for the wealthy in recent years, and a few West Loop condos that made this list as well.
In Chicago, January is when the busy season starts for Compass broker Tim Sheahan. His phone starts ringing the Monday after New Year’s Eve and continues all winter.
“People get cabin fever and wanna get out in January. Despite what the public thinks, most people don’t want to shop for homes in the summer, they’re not in a serious mood to buy,” Sheahan says.
Sheahan, who’s been in real estate for the last 18 years, reflected on last year’s market. Lots of empty nesters looking for a new home or a second property. And nearly every client asked about taxes. Homes in West Loop, North Center, and Lincoln Square were in demand. As for Lincoln Park, that neighborhood could see a bounceback this year, he says.Read More