Andrew Hertzberg
Another milestone is about to be achieved in Chicago real estate. One Bennett Park, a luxury residential building, is putting the finishing touches on becoming the tallest of its kind in the city, according to Curbed.
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The building is set to be completed by the end of the year. It is located at 451 East Grand in the Streeterville neighborhood.
It began construction in May of 2016. The last beam was placed on the building last week but construction will continue on the building and the rooftop crown.
Many of Chicago’s tallest buildings are a mix of housing, commercial spaces, entertainment, retail, or hotel rooms. One Bennett Park is exclusively residential. The plans include 69 condos and 279 apartments.
What would it cost to live there you ask? Between $1.9 and $15 million. Not exactly pocket-change, but not as high as the recent sale of a penthouse for $58.5 million purchased by hedge-fund billionaire Ken Griffin.
Keeping with national trends, Chicago home prices are some of the most expensive they’ve ever been. Despite all of this seeming wealth and luxury, Chicago is slipping in the national real estate market.
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Last November, an “Emerging Trends in Real Estate” survey ranked Chicago’s real estate market 42nd among 78 U.S. urban areas – down from 19th the previous year.
But don’t tell that to the folks buying property at One Bennett Park. Check out some of these pics from construction and renderings.
