Amazing Chicago Condos for Sale at 800 North Michigan – Park Tower
Posted by Helaine Cohen on
Chicago condos have been hot in 2013, with inventory low in this market full of incredible residences. That's why it's exciting for potential Chicago condo buyers when they hear about top-tier condos available in the city's most desirable locations, and no where could that be more representative than in the amazing array of condos available at 800 North Michigan – Park Tower, a grouping of 117 condos on 67 floors that sit atop the world-famous Park Hyatt Chicago Hotel.
Lucien Lagrange Architects designed this building back in 2000, and ever since, it has been one of the most sought-after condo spaces in the Windy City, and in addition to the stellar architectural and interior qualities of this building, much of its desirability has to do with location.
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When it comes to buying a condo in Chicago, some home buyers have a general idea of what neighborhood they prefer, while others even have a designated list of buildings in which they hope to find a new place. Whether it’s a community’s general feel and atmosphere or the location and amenities of a particular downtown Chicago condo building, it’s not uncommon in the world of Chicago real estate for buyers to have predetermined choices in mind before even beginning the home buying process.
The Chicago condo market continues to benefit from increased competition and buyer demand, as prices hit a 32-month high in June, according to the Standard & Poor’s/Case-Shiller Home Price Indices.
Much of the nation’s housing market has gained momentum over the past year due in part to a diminishing inventory ramping up buyer demand and boosting competition, creating a seller’s market. In Chicago, that trend has been exemplified by the area’s condo market.
Combining elements of classic architecture with state-of-the-art modern amenities that would entice any condo buyer, the residences at Ten East Delaware truly represent the best of both worlds when it comes to Chicago condo living. Located just blocks from beautiful Lake Michigan and the Magnificent Mile, this building in the heart of the Gold Coast is home to some of the most refined and sought-after Chicago dwellings available.
With world-renowned eateries like Alinea and Avec, Chicago has made its way to the forefront on national culinary excellence over the past decade or so. For Chicago condo owners and the city's residents, living in areas like River North, the Gold Coast, Streeterville and Lincoln Park often means quick and easy access to some of the finest dining and libations in the nation, and a recent report from Crain's Chicago Business gave the details on some stellar additions to this fine city's bustling food and beverage culture.
It took Chicago awhile to catch up with the housing market boom that much of the nation has experienced in 2013, but a recent report from Midwest Real Estate Data LLC (MRED), as reported in Chicago Magazine, shows many positive signs for those looking to unload their Chicago condos and Chicago homes for sale.
In a trend that falls in line with what much of the nation has been experiencing in 2013, Chicago condos and homes for sale are seeing low inventory, high prices, bidding wars, and quick turnaround between when a property or space is listed and when it is sold.
Case Shiller produces some of the most reliable and depended-upon reports for Chicago condos and homes, and a recent report published by the company shows Chicago condo prices seeing record gains from April to May of this year, the most recent months on record.
Chicago condo sales in the high-end range of the market are taking the city by storm. There has been a resurgence in high-rise development and construction over the last few years that is fueling the Chicago condo real estate market. According to a recent report by Coldwell Banker, sales of Chicago real estate in the high-end market rose in 2012, and the expectation is that 2013 could be an even better year.