each unit are not particularly special, though they can easily be improved with the help of a skillful designer.
The correction in prices at the Trump Tower is not
a reflection of the adjustment that took place in the general Chicago condo market. It is more extreme because
the significant increase in Trump’s pricing as the building
was in construction was also extreme. There is definitely
demand for the building, but buyers are savvy and pursuing purchase opportunities at the right price. That price
will vary depending on the view and the utility of the
floor plan, but at this point in time, it is in the $500- to
$650-per-square-foot range depending on the tier. While
Trump has finally started negotiating prices (as evidenced
by some recent closings that came down substantially
off list price), the best opportunities are still in the resale
market.;Given;that;only;some;of;these;units;are;listed;in
the MLS, the best approach for a buyer interested in the
building is to find an agent who knows their way around
and can network among agents with clients who are under contract but have not yet closed.
Overall, we believe that Trump Tower will stand
the test of time, and ultimately the residential condos
will appreciate nicely. Like the concrete construction of
the Tower’s foundation, the fundamentals of the building are solid. L & P
