So how are sales going at Trump Tower Chicago?

Trump’s development company finished selling the final units at Trump Hotel & Tower in Chicago years ago, but his name sits prominently on the building and therefore, given the current…political climate…the question I am asked often, and I mean truly often, is “how are sales at Trump Tower?”

Trump Tower Chicago 401 N Wabash

Currently there is a little over 2 years, roughly 26 months to be exact of inventory on the market. Currently, there are 43 residential condos available for sale and only 20 have sold in the past 12 months with 17 selling in all of 2019 so far. Before we get into anything farther, the real question is how does this compare to the market in general and other luxury buildings?

Currently in Chicago there is roughly 4.6 months of inventory available according to current statistics. So we can make the quick argument that Trump Tower has more than 5 times the amount of inventory than it should. But that really would not be fair, instead we should compare it to some other luxury buildings in Chicago. Now there are few luxury buildings that can compare to Trump. I’m not saying this because the building itself has better services or views, but given the number of units, date built, and location it is difficult to compare it to others. But lets do our best shall we?

Ritz Carlton Residences at 118 E Erie has only sold 5 units in the past year…yes only 5. Now the building is much smaller, at 89 units total. However it currently has 18 units available. So using some quick reverse math Trump is looking pretty good compared to the Ritz since the Ritz is sitting on almost 4 years of inventory!

Now lets downgrade a bit in building and switch neighborhoods to The Aqua building in Lake Shore East. I’ll use this building because it is connected to a hotel just like Trump and has very nice amenities, though from a luxury standpoint I don’t believe it compares at all. The Aqua has 8 units sell in the past 12 months with currently 11 units available meaning there is a little over 16 months of inventory available. That definitely beats out Trump.

Lets look at 55 E Erie This is a luxury high rise in River North and while some of the finishes are dated, its location, upper floor views, and overall quality of construction does compete (even though it is more…traditional in nature). 55 E Erie is blowing Trump out of the water with 18 condos sold in the past 12 months and only 10 currently available meaning there is a roughly 6.5 months of inventory on the market in the building.

Park Tower, located at 800 N Michigan it is connected to the Park Hyatt Hotel and is considered a premier building in Chicago. Park Tower has seen 5 sales in the past year with 8 currently on the market meaning there is a little more than a year and half worth of inventory on the market.

Alright, lets look at one more and that is the Pinnacle at 21 E Huron. The Pinnacle has seen a whopping 17 units sold in the past year with only 9 currently available units meaning there is just a little over 6 months of inventory on the market.

Now there are a lot of variables at work here and things are not just black and white. For instance Trump Tower has a great deal of investors in the building. This was due to multiple reasons in part of its location to the loop, its high number of 1 bedrooms, the Trump name that appealed to investors, etc. Investors love to “test” the market and have no problem leaving their units on the market for a months on end while they use the property as an in-town. Some other buildings mentioned have more stable residents. Less investors, more full-time residents or residents using the home as an in-town with the plan to use it full time down the road.

The other issue is pricing. Is pricing down in Trump? Compared to other luxury buildings yes. Both on the sales and rental side. A separate blog I will write this week will go into specific detail comparing Trump to other buildings in Chicago. The one thing that has kept Trump prices from falling further is the fact that the residents are in a good place. They don’t NEED to sell. There have been no major “fire” sales in the building like the fire sales we were seeing in 2009/2010. Now, if we are talking about the hotel-condos in the building then that is a totally different story for another day.

But if we cut to the chase we can discuss the question “Does Trump’s name affect sales in the building?” The answer is a resounding yes. There are residents in the building that would love to see his name removed if they could have it done (no thats not a possibility). There are some residents that say they live at “401 N Wabash” and refuse to call it Trump Tower. Those who rent their units out in the building have probably been hit the hardest. Pricing is down across the board since Trump entered the political arena and very much so in the couple of years. This is not meant to be a political blog by any means, it is just meant to discuss the elephant in the room. If you’re looking to make a purchase and you’re contemplating Trump tower or you’re using Trump tower as a comparable building to understand pricing of another building then you should know what is affecting its value. It is the name. The building is as clean as can be. The building is operated very well, with excellent security and spotless common areas. Most of the views are phenomenal. If Trump sold off his naming and hotel rights to say the St. Regis or Shangri-La you’d likely see values increase 15 to 20% overnight. It’s just that simple.

Paul Blackburn is an Illinois licensed real estate broker and Realtor with @properties in Chicago. He can be reached anytime via e-mail at


TRUMP TOWER IN CHICAGO -Now that Trump is President-Elect…

There have been many questions regarding Trump Tower in Chicago from the start of the 2016 presidential campaign and even more now that Donald Trump is the President-Elect. Since our group does a great deal of business in Trump International Hotel & Tower in Chicago I thought I would take the time to answer the real estate questions many people have asked in recent months.

Does Trump actually own Trump Tower (401 N Wabash Ave) in Chicago? 

Not completely. The building is broken up into two portions. The hotel portion, which Trump does own (although some hotel rooms are owned by individual investors) ends at the 28th floor.

The residential portion are individually owned condos and Trump no longer has any interest in the residential condos. These units start at 29 and run up to 89.

In short, Trump currently owns the majority of hotel rooms, the management company / brand that manages the hotel as well as all the convention and retail space in the building.

Will the name of Trump Tower in Chicago ever change?

Probably not. Trump has naming rights to the building and I don’t see him changing the name on his building.

Has the Trump election and presidency affected the pricing of condos in Trump?

It is too early to tell. The one thing we have seen is traffic drastically slow down on condos listed for sale in Trump. Most selling in the building at the current time do not NEED to sell (at least financially) so we haven’t seen any major price drops. Showing traffic before the election was very very slow. I think many buyers were concerned about values in the building so potential buyers wanted to wait on the sidelines to see what would happen to values.

Since the election traffic has picked up slightly for condos listed for sale in the building, but traffic is still slow overall.

Rentals are sitting on the market longer than usual, especially 1 Bedroom rentals which we’ve seen drop in price in the past 6 months. 1 Bedrooms would typically rent for at least $3,400 or higher (many in the $3,700 to $4,000 range). We’ve seen one unit rent for only $3,000 and another drop the price to $3,150 and still sit on the market.

Overall prices have not declined drastically, but there is apprehension among buyers regarding the future value of units in the building. On the rental end I think there are some people who simply do not want to be in the building because of the name (this is also true for some owners too). But, this is not the sole reason for 1 bedrooms having a difficult time renting. New construction rental buildings are giving Trump Tower a run for their money with excellent amenities and even hotel amenities such as my building, North Water Apartments, which is connected to the Loews Hotel.

Has hotel business declined?

I can’t speak for the hotel as a whole, but the hotel-condos that we represent are seeing the same or slightly better occupancy and room rates year over year (from 2015 to 2016). I do not know the numbers for November of this year yet, but November is historically a slower month for conventional style hotels.

Is there increased security at Trump Tower?

Yes. The increased security is nothing like you’ll see at Trump Tower in New York, but increased protests has caused the hotel and residential tower in Chicago to increase security and even close the garage to the public that is connected to the building. I haven’t had any major issues accessing the building with clients in recent weeks. However one of my clients actually got locked in the garage by accident due to the increased security measures.



Paul Blackburn is a licensed Real Estate Broker and Realtor with @properties in Chicago. Paul has been selling real estate since 2007 and is part of the Skowron Group which has sold in excess of $100 million in 2016 alone. For further information or questions please feel free to contact Paul directly at

Trump Tower and Other Developments Almost Sold Out!

Trump Tower at 401 N. Wabash once had hundreds of units on the market….but now they’re close to sell out with roughly 18 units left in their inventory. According to Crain’s Chicago Business 159 new construction condos sold in the 3rd quarter in 2013 which is up from the 2nd quarter and up slightly from the 3rd quarter of 2012. But why haven’t more new construction condos sold? After all the real estate market has been on fire all year! The answer is in the inventory numbers; there is simply very little new construction to choose from! As a matter of fact we are the lowest levels of new construction inventory since 1997. This is a big change from 5 years ago.

235 W. Van Buren led the way with sales in the third quarter according to Crain’s with 41 units sold. I’m not sure how many units are left in this building but I hope they’ve put a nice dent in their inventory. In total the building has 714 units most comprised of 1 and 2 bedrooms.

1201 S. Prairie Museum Park Related Midwest has been selling at two towers in Museum Park and have been doing extremely well. Between the two buildings they sold 64 units this past quarter. 1201 S. Prairie is their highest end (flagship) building in the development. Related, at least in my own humble opinion, has done a phenomenal job at revamping not only sales but the units themselves. Of course their absolute impeccable timing of this project didn’t hurt!

401 N. Wabash – Trump Tower As I said Trump Tower only has 18 units left to sell according to Appraisal Research…I’ll see if I can verify these numbers and post an update. Inventory in Trump, even in the resale market, has decreased dramatically. Those who purchased in this building in 2010 and 2011 already have equity in their units. It’s a beautiful thing!

2550 Lincoln Park Tower Chicago’s newest luxury building has been doing exceptionally well. They closed 30 sales in the third quarter and did so with an average square foot price of $840 per foot! The developer brought on Terri Proctor to head up sales at this development and she has and continues to do an excellent job.

225 N. Columbus – The Aqua Well there is not much to say here except it is sold out!


What’s Next? Since new construction inventory is so low why don’t they just building more?!

New units are currently on the way! Financing is still difficult for larger buildings and even though the condo market has seen a resurgence, selling out a 400 unit building would still be a very very difficult task.

CMK Development, the same developers who built 235 W. Van Buren are planning a building at 1345 S. Wabash which will contain 144 units. Soon we will also see plans announced for a luxury condo building in the gold coast (small and boutique) and another developer is trying to building 60 units in the West Loop.


Paul Blackburn is an Illinois Licensed Realtor & Broker with @ Properties in Chicago. He can always be reached via e-mail at

Rentals in Trump Tower Chicago – 401 N. Wabash Inventory Update

Here is your rental update with regard to Rentals at 401 N. Wabash, Trump Tower Residences, in Chicago. For those of you not familiar with the building, all rentals available are condos that are individually owned. Trump Tower in Chicago is broken up into two “sections” one being the hotel and the other being condominium residences. Trump Tower Chicago features an indoor pool, full health club and space, 24hr concierge, doorstaff, security, available room service, private and valet parking…the list goes on.

Studios: Studios start on the low end at $2,200 but many rent in the $2,400 / $2,700 range. The square footage of studio units range from 580 to 745sf.

One Bedrooms: There are two “style” One Bedrooms in the building. Standard 1 Bedrooms range from 928sf up to 1071sf. Larger One Bedrooms range from 1314sf to over 1400sf. The smaller One Bedrooms typically rent from $3,200 on the low side up to $4,000 depending on square footage, floor height and time of year. The larger One Bedrooms can rent from $4,500/mo to well over $5,000/mo depending on the view. Some of the larger One Bedrooms face the IBM building so these units will of course rent at a cheaper price.

Two Bedrooms: Currently the cheapest Two Bedroom on the market is listed at $6,500 and is an “F” unit which on lower floors faces the IBM building. Two Bedrooms can rent for as high as $10,000/$11,000 per month. These are larger Two Bedrooms, however, with South and East views. Most Two Bedrooms range from just over 1,800sf to over 2,700sf. There are some smaller “C” tiered units on lower floors which are 1500sf.

Three Bedrooms: Currently there are only two 3 Bedrooms on the market priced at $11,000 and $12,000 per month. Some have rented for north of $14,000/mo.


Paul Blackburn is an Illinois licensed Realtor and Broker with @ Properties in Chicago. He can always be reached via e-mail at

Trump Tower in Chicago – 401 N. Wabash Condos

Trump Tower Residences, located at 401 N. Wabash in Chicago has quickly become an iconic building. Many transplants and Chicagoans wonder how well Trump Tower is doing. What are condos selling for at Trump Tower? How much inventory is left in Trump Tower Chicago? Are prices increasing in Trump Tower?

Several years ago the real estate market in Chicago was a scary sight and Trump Tower Private Residences was not at all immune to market conditions. As a matter of fact, Trump Tower was probably hit harder than the average condo building in Chicago due to the delivery of condos in the building. Thankfully, those who could not afford to hold onto their units quickly sold. While this temporarily pulled down pricing in the building it allowed the “dead weight” who should never have purchased in the building to get out. Now, in the spring of 2013, the building is doing exceptionally well. Some buyers who purchased in 2009 are up over 20% or more on their investment in the building.

The developer still has a handful of units to sell and will likely be active in the building for years to come. However, the prime units with the best views have mostly sold. The “A” tier, which changes in square footage depending on the segment of the building, is the most desirable tier and this is a wrap around unit facing east. You get great views south as well as north. The view looking down the river, however, is priceless. All “A” tier units are over 3,000sf.

Outdoor Space?  Those seeking a balcony will need to look elsewhere as all terrace units have already sold. There are only in the entire building on the 29th and 51st floors. The most recent to change hands was 29I selling for $1,640,000. It is a 2/2.1 with a 350sf balcony.

Cheapest entry point into the building? On the condo side the cheapest entry point is going to be a Studio unit. They typically sell around 400k give or take 50k. One Bedrooms start in the mid $500’s to low $600’s and move up from there.

Amenities in Trump Tower: Trump Tower is a fully amenity building in Chicago. The fitness center does not disappoint and because you are connected to the hotel you get 5 star services in the fitness center such as bottles of water on each machine, fresh towels, etc. There is an indoor pool, spa, 24hr doorstaff, etc. You also always have access to Room Service as well as concierge.

Future of Trump Tower in Chicago: We can never predict what the future will hold for Trump Tower but the future does look bright. I believe we will continue to see many buy into the building. We will also see many extensive renovations. While the finishes in the building are nice, they are just basic for a high end building. We will continue to see buyers gut units and replace with premium finishes which will only help increase prices more in the building.


Paul Blackburn is an Illinois licensed Broker and Realtor with @ Properties in Chicago. He can always be reached via e-mail at


Trump Tower Chicago at 401 N. Wabash always has a handful for rentals available. Below is a list of what is currently on the market for rent at Trump Tower Chicago along with a list of Condos Recently Sold at Trump Tower Residences in Chicago.

Studios for Rent in Trump Tower Chicago:

#33F    $2,700/mo

One Bedrooms for Rent in Trump Tower Chicago:

48D    $3,400/mo

55B      $3,450/mo

64C     $3,500/mo

34E      $3,500/mo

32E     $3,600/mo

66B      $3,800/mo

32I        $4,000/mo

Two Bedrooms for Rent at Trump Tower Chicago:

76B      $7,500/mo

60F     $7,850/mo

Three Bedrooms for Rent at Trump Tower Chicago:

74BC    $9,000/mo

77A      $13,500/mo

86D      $14,000/mo

Prices on all units vary depending on owner, view and square footage.


60B closed from the sales center at $535,000/mo. 60B is a One Bedroom with 923 square feet. Parking was not included in the sale.

82B closed at $1,180,000 which is a high floor 2 Bedroom unit with 1,839sf. The B unit on this floor faces North West.

36H closed for $1,700,000 which is a large 2 Bed / 3 Bath unit with 2,742sf. This unit faces south, east and west. Living room views are great. Master Bedroom views, however, are blocked by the IBM building.

Paul Blackburn is a licensed Illinois Realtor and Associate Broker with @ Properties in Chicago. He can always be reached with questions or to schedule showings via e-mail at 



Trump Tower in Chicago, at 401 N. Wabash, continues to see rent prices on the rise. Prices are up well over 20% compared with the low rents prices the building saw in 2009. Right now One Bedrooms rent from $3,400 to $4,000 with larger deluxe 1 bedroom units renting for over $5,000. Two Bedroom units will start around $7,500 for a lesser view unit to over $9,000 for units with a great view.

If you’re looking to rent in Trump opportunities still exist but residences do rent quickly. Increasing rent prices and increasing demand for rentals has also helped boost sales for the building. While many buyers purchase in Trump to occupy the unit the increased rent prices gives them a comfortable safety net if they choose not to use the unit for personal unit in the future.

The most notable unit to recently rent in the building would be 88A which was on the market for months. 88A, a 6,400sf penthouse unit leased for $25,000/mo.




Here is a complete list of available condos for rent in Trump Hotel & Tower Chicago located at 401 N. Wabash



Unit 39F  –  $2,500


Unit 70B  –  $3,400

Unit 42E  –  $3,400

Unit 49J  –  $5,500 (1475sf)

Unit 53G  –  $5,950 (1419sf)


Unit 46H  –  $7,100

Unit 60F  –  $7,800


Unit 78A  –  $11,500

Unit 74A  –  $14,000

Unit 88A  –  $22,000 (6,400sf)


Paul Blackburn is an Illinois licensed Realtor and Associate Broker with @ Properties in Chicago. He can be reached 24/7 via e-mail at whether you have questions or you would like to view any property.