T
he St. Regis Chicago marked another milestone with the sale of a full-floor condo for $8.3 million in November, making it the most expensive transaction since 2022's $20.6 million penthouse purchase. The 76th-floor unit sold at $1,406 per square foot, and its seller is linked to Magellan Development Group, the tower's developer. The buyers, Alessandra and Johannes Pinto van Zuydam, acted without an agent and are tied to Le Creuset, a French cookware company.

    The sale contributes to a surge in high-value property transactions in Chicago, with downtown condo sales increasing by 6% last year. In 2024, 106 homes sold for $4 million or more, a 45% increase from the previous year's total of 73. This makes 2024 the second most active year for high-end real estate after 2022.

    The sale follows recent activity at 363 East Wacker Drive, where three units sold in January for a combined $17.1 million. The seller, Denver-based GD Holdings, acquired 84 condos in the skyscraper last year as part of a $117.5 million bulk transaction. This uptick in high-end sales indicates confidence in the condo market, with strong timeshare sales also suggesting a positive trend.