When the tower opened, Chicago’s luxury condo market was picking up steam with new building openings and others under construction. Trump Tower is one of the best-built buildings downtown and one of the best to buy in if you can get past your feelings.” “People are out there who are saying, ’I wouldn’t walk into that building.’ People’s feelings are what’s driving investments at Trump International. “I know people who will not buy in that building because his name is on it,” Keating said. We’re negotiable, but we’re not going to give it away.” Scarlet letters “Some people are and will sell at a rock-bottom price. Now the owner is looking to exchange it for another, bigger condo in the same building, according to his broker, Jeanne Keating at are looking for a steal - and we’re just not in the position that we need to sell,’’ Keating said. It listed in mid-May at $595,000, a 21 percent discount compared to the 2018 listing. Since then, the price has dropped twice and the owner has removed and replaced the listing twice. None is owned by the Trump Organization.Ĭonsider 68B, a 923-square-foot one-bedroom, 1.5-bath unit that went on the market in April 2018 for $740,000. That represents roughly 11 percent of the tower’s 486 units. As of the end of July, there were 52 active properties at the Trump tower, some of which are pending, according to the multiple listing service. Since the tower opened in 2009, prices are down about 30 percent, while prices in 18 other downtown Chicago high-rise condo buildings have slid an average of about 6 percent in the same period, she said.īut the small recovery is kindling hope among some owners that the ex-president’s exit from the White House will mean better prices if they hang on. Now, with the building’s namesake developer out of office, they’re seeing signs that pricing may finally have hit bottom.Īverage resale prices at the Trump tower have increased about 2 percent this year, to $579 per square foot, said Gail Lissner, managing director at Integra Realty, an appraisal firm. ![]() C o ndo owners at Trump International Chicago Tower & Hotel have long known that luxury downtown apartments in a tower with any other name sell at higher prices.
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