Want to live in Water Tower Place? It’ll cost you

What to buy a condo in Chicago’s iconic Water Tower Place? Don’t expect to land a unit without spending at least $1 million.

 

That’s according to a recent feature in Chicago Magazine on the units for sale at the Michigan Avenue landmark.

 

As Chicago Magazine reports, Water Tower Place is best known for its upscale shopping choices. But the tower is also home to residential units, which are quite exclusive. The 74-story tower, of course, does offer amazing views of the city and Lake Michigan, access to its famed Michigan Avenue shopping strip and nice amenities.

 

But the price tag for living in Water Tower Place? It’s not small. That’s why the tower has traditionally served as the home for many of Chicago’s wealthiest residents, including, for a period, Oprah Winfrey.

 

According to the story, the last time a condo unit in Water Tower Place sold for $1 million or less was a bit more than two years ago. That’s when a 71st story two-bedroom duplex sold for $1 million even in March of 2016.

 

Chicago Magazine reported that the most expensive recent sale at Water Tower Place was $3 million for a 38th floor condo unit that included 3,400 square feet of living space.

 

The Chicago Magazine story lists five condo units that are currently on sale in Water Tower Place. The prices of these units range from $1.05 million for a 1,775-square-foot, two-bathroom unit on the 33rd floor to $2.5 million for a 71st-floor unit of 3,300 square feet. That unit features particularly impressive views of Lake Michigan.

 

If a unit in Water Tower Place is outside your budget, don’t fret. Instead, contact a REALTOR® familiar with the Chicago neighborhoods in which you want to live. This pro can help you find the best condo or single-family home in Chicago for your family.