The Square Foot Ceiling
Doubling your own best price?
The 92 story Trump International Hotel & Tower is currently rising on the river near Michigan Avenue. The penthouse was listed at $28 million, and then taken back off the market.
At 14,000 square feet (!) the apartment was priced at double the current max price per square foot for condos in Chicago. $2,000/sf is unheard of, according to the Tribune. The present price leader is the Trump International, where the average selling price was $750/sf through last summer. Recently they have risen to the 1K/sf zenith.
Better luck next time…