Into the Weekend 8.8.35

When our team works with buyers, our first conversation covers their general parameters: price, style, location, property type, must haves, haves-but-could-live-withouts, wish lists, financing - stuff like that. Together, we review the process, discuss various strategies, and come up with a game plan consistent with their timing, goals, and priorities. Our team is gentle but fierce.

But these days buying and selling in one particular building in downtown Chicago (not downtown Montgomery or downtown Tallahassee or downtown anywhere Mississippi) is, uh, well, loaded. 

Architecturally, it’s an exquisite building along the Chicago River that tapers off to the sky and elegantly reflects natural light at different angles, depending on the time of day. Although the developer’s interior finishes were a bit sub-par, the soaring ceiling heights and views make up for the basics.

But unlike any other building in the city of Chicago, 401 N. Wabash stirs emotions, conjures up images… and potentially sets buyers off the deep end. For many, it’s a hard, "NO!". For others it’s a hard, "ARE YOU FRICKING KIDDING ME?!". And, still for others, it's, "ARE YOU OUT OF YOUR MIND LIPPITZ?!".

It’s a rare buyer who focuses on this building and says, “Oh, gee, that sounds lovely.”

But they exist.

I did have one out-of-state buyer who reached out to me after the first term with the intent to scoop condos up at a discount in the building, hold them, and then cash in when the tides changed.

With 58 units on the market right now and only one under contract, the facts speak for themselves. My (strong) political leanings aside, the decision whether or not to buy or show or even step into Trump Tower - no matter what it may offer, is fraught. Is it a bad investment? A good one? Do the residents of the building share the same values? Are you going to feel comfortable there? Uncomfortable?

Politics and condos rarely meet head-on, let alone collide. And this is the one MAGA exception.

Have a great weekend!

Best,

Brad