If you’ve been thinking about jumping into the Chicago condominium market for a while, now might be the perfect time to start looking. Mortgage interest rates have fallen significantly over the past year, and while city condos are selling quickly – with an average market time of about one month for sold units, year to date – there’s solid inventory in many Chicago neighborhoods. This offers a promising environment for savvy buyers.
Of course, condo buyers are a heterogenous lot. Fortunately, so are Chicago condominiums. If you’re dreaming of condo living but aren’t sure which direction to go, here are five Chicago condo personas and available options to meet the needs of each.
If you’ve been contemplating a dive into Chicago’s condominium market, now could be an ideal moment to explore your options. Over the past year, mortgage interest rates have seen a notable drop, and though city condos are in high demand – with average market times around a month for sold units – many Chicago neighborhoods continue to offer a variety of inventory. It’s a prime setting for savvy buyers to step in.
Chicago condos offer something for everyone, catering to the diverse tastes of city dwellers. Whether you’re envisioning a cozy pet-friendly space or a luxurious high-rise, here are five distinct Chicago condo buyer profiles with properties that suit each lifestyle.
1. The Chicago Dog Lover
Checklist: For the ultimate Chicago dog enthusiast (and their four-legged friend), the city offers a variety of walkable, dog-friendly neighborhoods. Look for areas with minimal stairs for easy walks and proximity to pet-friendly parks. Having a neighborhood coffee shop nearby is a must!
Consider: A duplex-down in a newer three- or six-unit building
Neighborhoods: Bucktown/Wicker Park, Humboldt Park, North Center, Bronzeville
On the Market: 2606 W. Thomas Street #1 in Humboldt Park – This three-bedroom condo is ready for move-in, offering spacious sunroom and family room areas for pets to roam. You’ll have grilling space on the deck, a backyard for morning walks, and access to nearby Humboldt Park.
CONSIDER: A duplex-down in a newer three-flat or six-flat
WHERE: Bucktown/Wicker Park, Humboldt Park, North Center, Bronzeville
ON THE MARKET: 2606 W. Thomas Street #1
This three-bedroom condo is ready for move-in, offering spacious sunroom and family room areas for pets to roam. You’ll have grilling space on the deck, a backyard for morning walks, and access to nearby Humboldt Park.
2. New City Transplant
Checklist: Ready to experience Chicago’s vibrant urban lifestyle, you crave proximity to restaurants, galleries, and city sights. Amazing skyline views and convenient parking for your car are essential.
Consider: High-rise or mid-rise condo with garage parking
Neighborhoods: Streeterville, River North
ON THE MARKET: 270 E. Pearson Street #303
In the heart of Near North Side, you’ll be surrounded by culture, restaurants, and Lake Michigan views. This condo offers suburban comforts like a fireplace and primary suite, plus city perks like onsite amenities and a deeded parking spot.
3. The Luxury Maven
3. The Luxury Connoisseur
Checklist: If opulence is your style, compromise isn’t on the table. You seek a living space as upscale as your tastes, with premium finishes and custom design.
Consider: Penthouse suite
Neighborhoods: Gold Coast, Lincoln Park, West Loop
On the Market: 500 W. Superior Street #2703
ON THE MARKET: 500 W. Superior Street #2703
A three-story penthouse designed with elegance in mind, featuring stunning architectural details and top-tier materials. Enjoy panoramic views, a private elevator, a wine room, and a chef’s kitchen.
4. The Urban Commuter
Checklist: With no need for a car, you rely on Chicago’s robust public transit system. Easy access to groceries, gyms, and essentials is key, as well as proximity to the L and other transit options.
Consider: Low- or mid-rise condo near public transit
Neighborhoods: Ravenswood, Logan Square
ON THE MARKET: 4802 N. Bell Avenue #504
This modern condo in Lincoln Square offers high ceilings, a wine fridge, and rooftop access with grilling space. The location is transit-friendly with easy access to Metra and the L, plus local grocery stores and gyms nearby.
5. The Fitness Enthusiast
Checklist: For the dedicated athlete, living close to Chicago’s lakefront trails is crucial. Your ideal home supports an active lifestyle, with features like bike storage and inspiring views for morning routines.
Consider: Walkup or secure building with bike storage
Neighborhoods: Edgewater, Andersonville, South Loop, Lakeview
ON THE MARKET: 1211 S. Prairie Avenue #706
1211 S. Prairie Avenue #706 – This South Loop condo offers quick access to lakeside trails, the Field Museum, and fitness facilities. Enjoy post-run recovery with amenities like a sauna, sundeck, and heated floors.