There are plenty of condos dotting the city of Chicago. It’s little surprise, then, that developers are doing whatever they can to differentiate their units from those of their competitors.
REALTOR® Magazine recently ran a feature looking at the ways in which developers are advertising the luxury amenities in their condos as a way to find buyers for them. The story refers to an amenity war taking place in the luxury condo and apartment markets in metropolitan areas across the country.
And, yes, these amenity wars are taking place throughout Chicago, too. Buyers today expect the highest of high-end amenities when they are paying high prices for condo units in the center of urban areas like downtown Chicago and its surrounding neighborhoods.
According to the REALTOR® Magazine story, a growing number of condos are offering such amenities as yoga studios and pet spas to smart home technology, concierge services, bike storage areas and high-end fitness centers. And they’re offering these features to attract buyers who have come to expect them.
This is good news for condo buyers in Chicago. As developers offer more amenities, the condo buildings throughout the city become more attractive. The amenities also help with resale value: You’ll have an easier time selling a condo with a concierge service, rooftop pool and onsite fitness center than you’d have selling a unit in a building that lacks those amenities.
Be careful, though, when looking for Chicago condos. While high-end amenities are nice, the keys to finding the right home are factors such as location, size and price. You want a condo that’s in a Chicago neighborhood that appeals to you at a price point that fits within your budget. You also want that condo to offer enough space for you and your family.
When it’s time to find that perfect Chicago condo, then, make sure to work with a realtor who knows the neighborhoods you are targeting. This professional can help you find the home that fits your needs best.