Trump Tower Chicago Condos For Sale And Rent
Is it possible to buy a condo in the second tallest residential luxury high-rise in Chicago for under $350,000?
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It is at Trump Tower, where many of the furnished studio hotel condos are listed from the $340,000s and up. Buyers can still find resale residential condos on the market at prices listed anywhere from 10% to 30% below the developer units, but the gap has tightened up somewhat
The 92 story high-rise has 486 luxury residential condos and 339 hotel condos. The units are around 60% to 75% sold, depending on what mood Donald Trump is in when asked the question. Those hotel condo units have been slower to go under contract, mainly because lenders are less willing to finance that type of condo. The hotel condos are located on floors 17 through 27 and the residential condos on floors 28 through 89.
There were around 50 condos listed on the market as of July 2011. Those were both developer and investor units. Buyers can find residential studios priced from the $450,000s. Some one bedroom condos at Trump Tower have been starting in the mid $500,000s and two bedroom units from the $950,000s and up. Again, many resale units are priced below developer-owned units.
As of July 2011 there were 11 condos for rent in this luxury tower. The monthly rates vary widely. You can find studios for rent at $2,300 per month and three bedroom, four bath condos for as much as $16,000 per month.
After a legal standoff with his lenders, Trump renegotiated his construction loan last year and tried a marketing technique that is common with most developers but new to Trump Tower. Five furnished models opened in February of this year (2011). They are geared towards certain buyer demographics, with units designed for single business persons to retired couples who need an extra room for visiting children. The models run from a 580 square foot studio to a two bedroom, two bath unit with 2,742 square feet. Prices on the unfinished units the models represent run anywhere from the $460,000s to $1.68 million.
Condo finishes at Trump Tower include hardwood flooring, stainless steel appliances from Wolf, Meile and Sub-Zero. Gourmet kitchens come with Snaidero Italian cabinets, granite counter tops and full-height granite backsplash and built-in granite shelf. Bathrooms feature either limestone or marble floor and surround tiles, Kohler brushed nickel fixtures, oversized Air-Jet and Whirlpool tubs, marble or granite counter tops, under-mount porcelain sink and custom vanity.
Luxury building amenities are the same for hotel guests and condo residents. There is the 23,000 square foot Spa at Trump on floor 14 that features a health club/fitness center, indoor swimming pool, saunas and eleven treatment rooms where you can indulge in a massage, facial, salon treatment or other pampering.
Other luxury perks available to anyone living at Trump Tower are an around the clock doorman, 24 hour concierge service, room service from the buildingís Sixteen restaurant, maid and housekeeping service plus laundry and dry cleaning. Residents can even opt to have a chef come to their condo and prepare a meal. The high-rise is also home to the Rebar lounge, and residents can enjoy the River Walk, dog park and Farmer's Market held outside during the summer.
Trump Tower has a great combination of fantastic river, lake and city views, high-end finishes and a trendy River North location. If you're looking for a Chicago condo with those selling points, be sure to contact us for more information about available units and pricing.
Oh… in case you were wondering… at 96 stories,Trump Tower is the second tallest residential tower in Chicago. John Hancock is the tallest at 100 stories.