realestate

South Loop Condo Listing Hits $6 Million Mark

54th-floor Museum Park condo in Chicago listed for $6 million after 15 years vacant

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54th-floor condo in Chicago’s Museum Park is on the market for nearly $6 million after being unfinished for over 15 years. The condo, located at 1211 South Prairie Avenue, offers views of Lake Michigan and Grant Park and presents an opportunity for a buyer to customize the space with custom finishes and upgrades. The asking price of $600 per square foot is a significant increase from the price paid in 2009. The price increase is due to the ongoing gentrification and demand for high-end living in the South Loop area. If sold at the asking price, it will set a record for residential sales south of Ida B. Wells Drive. Other recent condo listings in Chicago have seen significant price reductions, including a unit in River North’s One Chicago development. Billionaire Ken Griffin recently re-listed his condo at No. 9 Walton for $8.5 million, resulting in a $15 million loss. Filmmaker George Lucas is developing the priciest condo in Chicago history by combining two units in Streeterville’s Park Tower into a 16,000-square-foot duplex penthouse, costing $33.5 million.

South Loop luxury condo listing reaches $6 million in Chicago real estate market.