The Elysian is a new construction luxury hotel and condo in Chicago’s prestigious Gold Coast neighborhood. The 60-story tower had three of the top five most expensive Chicago-area home sales in the past year and is one of the most celebrated high-end residential developments in the city.
An ultra swanky 6400+ sq. ft. unit in the Elysian was ranked No. 1 in Chicago Magazine’s annual survey of priciest pieces of real estate in Chicago and its suburbs. The condo sold for $8.182 million and its neighbor came in second with a sales price of $7.25 million, according to an article that appeared in the October issue of Chicago Magazine. Two suburban homes beat out another unit at the Elysian for third and fourth place on this year’s list, leaving the posh Gold Coast condo unit in fifth with a sales price of $6.28 million.
The survey looked at 12 months’ of home sales between June 30, 2009 and June 30, 2010. Overall there were 1,419 properties that sold for $1 million or more in the greater Chicago area. The results show a slight improvement from the previous year with a 3.3% increase from 1,374 sales, but it still doesn’t come close to the luxury sales we saw in 2006, which topped 2,400 transactions.
Neighborhoods with the most home sales of a million dollars and up are the Near North and Lincoln Park. Both communities had more $1 million+ sales than the year before with a total of 320 blue-chip deals between the two locations.
The Gold Coast is another traditionally expensive part of town to buy real estate with its stately city mansions and soaring luxury residences. The Elysian is one of the Gold Coast’s newest additions and, since the cancellation of the Spire and Waterview, it has gained a reputation among Chicago’s high-roller investors as THE property of 2010.
Designed by Lucien Lagrange, this ritzy building has 52 private homes, dramatic terraces and five-star services associated with the hotel and spa that also operate out of the elegant high-rise located at 11 E. Walton Street. Amenities at the Elysian include a deluxe day spa and health club with mosaic tile lap pool, full exercise facility with instructor-led classes, body treatments and massages, a hair salon and more. On-site dining is never a disappointment with exquisite menus planned by the Elysian’s executive chef, who oversees three restaurants (Balsan, Ria and Bernard’s Bar), plus private dining rooms and room service.
Condo buyers looking to live the high life should definitely check out what the Elysian has to offer. There are currently seven active listings on the market at this primo Chicago property ranging in price from $2.675 million to $10.5 million. When it comes to million-dollar digs, the Elysian takes the cake.
Wow, that looks like a place I want to live. I have never heard of the Gold Coast. Great article and I thank you.
-TOPTEN