Luxury real estate in downtown Chicago came roaring back in 2012, experiencing its best year since 2008. According to a recent report, sales of million-dollar homes rose by 15 percent last year, and while the rebound has been welcome news to sellers, it has also driven luxury supply to its lowest level since before the housing downturn, frustrating many high-end buyers.
"Finding the home you want has a lot to do with timing," says James Hanson, principal of Mesa Development LLC, developer of The Legacy at Millennium Park, a luxury condominium high-rise at 60 East Monroe Street. "We were all victims of bad timing a few years ago, but today's buyers at the Legacy are finding that their timing is impeccable. In addition to market conditions that make this an ideal time to buy, we still have a variety of available floor plans and views."
According to Hanson, The Legacy felt the surge in luxury sales about halfway through 2012, and the pace has remained steady into the New Year. "We've inked over $25 million in new contracts since last summer, and much of it has been in the million-plus range," says Hanson.
The 72-story Legacy features luxury condominiums soaring above Millennium Park, Lake Michigan and downtown Chicago. The building offers a wide range of floor plans, including one-, two- and three-bedroom residences and five-bedroom penthouses. Remaining homes range in price from $395,000 for an 875-square-foot one-bedroom floor plan to $7.5 million for a 9,300-square-foot, full-floor penthouse.
Residences feature large living areas and bedrooms, high ceilings, and gourmet eat-in kitchens. Floor-to-ceiling windows in all units fill rooms with natural light and offer stunning views of the Chicago skyline and Lake Michigan. Upscale finishes and high-quality details abound, including hardwood floors; granite countertops; marble-tiled baths; Snaidero, Wood-Mode or Brookhaven cabinetry; and Sub-Zero, Wolf and Miele appliances.
The Legacy also has a variety of world-class amenities, including a heated indoor lap pool, whirlpool spa, two community rooms with adjoining outdoor sky gardens, a professionally equipped fitness center, 24-hour doorman, and valet dry cleaning and package receiving. A sky bridge conveniently connects the Legacy to a neighboring club giving residents who are club members direct access to all of the club's facilities, programs and services. Residents who are not members can still enjoy certain club privileges, such as hotel rooms for guests, access to catering services and the club's tournament-quality squash courts.
Situated in the heart of Chicago's cultural mile along Michigan Avenue, The Legacy is surrounded by world-renowned shopping, dining, theater, art and recreational opportunities. Residents are just steps from Millennium Park, The Art Institute of Chicago, Grant Park, Harris Theater, The Chicago Symphony, The Magnificent Mile and more. Nearby restaurants include the critically acclaimed Henri and The Gage.
Designed by Chicago based architecture firm Solomon Cordwell Buenz, the award-winning building has been recognized for its contemporary architecture and innovative planning, which involved the preservation of three landmark building facades along Wabash Avenue.
The Legacy sales center is located at 60 E. Monroe St. and is open from 12 to 5 p.m. daily. For more information, call 312-252-0060 and visit