Finding a Condo in Chicago Trump Tower might be Easier than You Think
Want to live in River North’s Chicago Trump Tower? Finding a condo here might not be all that challenging.
A recent story in the Chicago Tribune says that Trump Tower has a surprisingly large number of condominium units available for both sale and rent these days. According to the story, those looking for units here might be able to find some bargains, as owners might feel pressure to drop their asking prices amid the glut of for-sale residences.
The Trump Tower building does make an undeniable impression in Chicago’s River North neighborhood. And since the presidential election, it’s difficult to ignore the big “Trump” name atop the building.
Is it a coincidence that since the election so many Turmp units have hit the market? That’s difficult to say. But according to the Tribune, about 10.7 percent of Trump Tower’s 486 condominium units are now for sale. That, the Tribune reports, is a higher percentage than you’d see at most condominium buildings in the highly desirable downtown Chicago housing market.
One REALTOR quoted in the Tribune story points to the protests that have become common outside the building since the election. When owners pay so much millions for a condo, they don’t want to look out their windows and see protestors surrounding their building.
The Tribune says that there are about 52 condo units for sale in the Chicago Trump Tower now. Only four units have sold so far this year, according to the story. The Tribune says that the number of units for sale in the building is about three times higher than what other big condo buildings are seeing downtown.
It’s important to note, too, that the market for Chicago’s Trump Tower isn’t especially deep. There aren’t that many Chicago residents who can afford the price of a unit here.
But if you are one of these residents and you’d like to live in one of Chicago’s busiest neighborhoods? You must might be able to find a bargain in our city’s own Trump Tower.