Chicago is a vast and changing landscape of luxury high rise apartment and condo towers, and this is changing even more over the next few years. There have been lots of sales and potential sales of Chicago Apartment towers in the past few months. There are several developers that are also in process of funding 5 new towers slated to hit the Chicago Luxury Apartment inventory in 2013/2014, all in all about an additional 5,000 units on the market. The apartment high rise complex has changed over the last 10 years, and developers are catering to a more astute clientele looking for the ultimate in high rise living. Today’s towers have everything from Pool, Fitness Center, Spa Area’s, Roof Deck’s, Wine Room’s, and even all out Miami style nightclub rooftops. There are 5 new towers slated for 2013/2014 spread out between the Loop and Old Town neighborhoods.
With the huge influx of expected new apartment towers in the next few years, many developers are opting to take advantage of this rare opportunity. There are 5 luxury apartment towers up for sale at the present time, with developers looking to take profits while the market is still hot. These luxury apartment towers are taking Chicago by storm, and there doesn’t seem to be a slow down in sight. The housing market in Chicago is not one of the hardest hit, yet the demand for high end luxury rental apartments and condo’s is higher then we have seen in a long time. We have seen many of the condo towers in Chicago convert over to Apartments to meet the demands of the high end customer. The typical buyer of a million dollar property in Chicago has now converted to your $3ooo to $5000 renter. The rental market doesn’t seem to be slowing down anytime soon, and the developers that put up these luxury apartment mega towers are here to meet those needs.
