Now that the economy has all but recovered from the Great Recession, the ultra-luxury market in Chicago appears to be back on a tear. Developers have been a bit more cautious when it comes to constructing new condos in the middle of the market, but the same can't be said when it comes to new condos on the very high-end of the scale. New upscale buildings like 4 East Elm, No. 9 Walton, and the Vista Tower are attracting buyers with deep pockets who want the latest and greatest. Many of the units at the Vista Tower are still pending sales, but in the coming months, we will have a better idea of what buyers are paying for condos in the new supertall tower. For now, here's a look at this year's biggest sales so far.
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The Priciest Residential Sales of 2016 So Far
With an improving housing market, luxury sales are back on the rise
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2026 N. Mowhawk
After spending a little over a year on the market, this Lincoln Park mansion sold in February for $8.35 million, making it the most expensive home sale in Chicago so far for 2016. The house was built in 2004 by Metzler Hull and boasts essentially every luxury amenity you can imagine. At 11,000-square-feet, it's safe to call this one of Lincoln Park's mega-mansions.
4 E. Elm Unit PH23
The 23rd floor penthouse at 4 East Elm takes the second place spot for priciest sales so far in 2016 after closing earlier this month for $6,692,192. The unit was sold as raw space for the owners to design and build out to their taste.
1829 N. Orchard Street
The only look of this house that we have is of an architectural sketch. But even still, it's easy to see how elaborate this house will look when it joins Lincoln Park's Orchard Street. The home comes from LG Development and sold for $6.1 million in March.
1922 N. Howe Street
The fourth place entry in this list breaks the $5 million mark coming in at $5.5 million. This 7,200-square-foot new construction on Howe Street boasts a limestone facade and heaps of lux finishes and amenities.
1804 N. Mohawk Street
If you're looking for a Lincoln Park mansion on an oversized lot, be prepared to dish out millions. This home on Mohawk Street sold for $4.95 million at the end of April.
132 E. Delaware Unit 6308A
This swank penthouse pad at the Four Seasons sold for $4.65 million at the end of March. The large unit boasts tall ceilings, huge windows, and of course, incredible views.
800 N. Michigan Unit 5101
This 51st floor unit at Park Tower sold for $4.5 million on May 25th, which makes it one of the priciest sales of this year so far. The unit is decked out in custom finishes, but the big seller is the incredible views of the city.
1922 N. Dayton Street
The list's ninth place entry does break the $4 million barrier closing at $4.1 million at the end of May. Located on Lincoln Park's Dayton Street, this new construction hits on all of the ultra-lux touches and amenities.
4 E. Elm Unit 16S
This unit is located directly below the last entry, but comes in 9th place as it sold for nearly $25,000 more than its upstairs neighbor. The $3,987,391 sale price doesn't break the $4 million mark, but it sure is close.
4 E. Elm Unit 17S
Closing at $3,963,794, this nearly 3,500-square-foot unit occupying 4 East Elm's 17th floor takes 10th place for this year's priciest sales.
11 W. Walton Unit 3901
Anyone familiar with luxury real estate in Chicago is very familiar with the address 11 East Walton. Many of Chicago's wealthiest residents live at the Waldorf Astoria and the $3.825 million sale of unit 3901 is the 11th most expensive sale of 2016 so far.
4 E. Elm Unit 18S
This three-bedroom, three and a half bathroom condo on the 18th floor of 4 East Elm just sold less than two weeks ago for $3,792,709. The unit is just one of several on the list.
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