The concept of luxury has been so overused that it has practically lost all meaning, particularly in regard to high end real estate. Depending on who you ask and what they are offering, a "luxury property" can mean anything from a condo in a building that has a gym and a doorman all the way up to a multi-million dollar plus listing that includes ultra high end finishes, customized floor plans, and amenities like private wine cellars, indoor and outdoor pools, and much, much more.
However, at the end of the day, you're the only one who can define luxury for yourself (but your real estate agent can help).
That said, there are some key elements that you may want to consider, especially if you're looking at investment properties or considering the resale value of your next real estate purchase, but don't forget you're the one who has to live with your idea of luxury!
So you want to get it exactly right. Start by listing what you personally consider be true luxury, and begin your search for a new Chicago home from there. Here are a few ideas to get you started:
Chef's Kitchen. If you cook and/or entertain on a regular basis, you'll want the kind of premium appliances that you typically only see in leading restaurants. In addition, features like spacious counters, custom cabinetry, and more just look gorgeous as well as being functional.
Pamper Yourself. Customized walk-in closets and dressing rooms, bathrooms with elegant vanities, heated floors and towel racks, oversize bathtubs and jacuzzis, and other features that make the simple act of getting dressed every day special.
Building Amenities. If you live in a luxury condo, townhome, or gated community, chances are you have access to some shared features like a state of the art gym, outdoor spaces, grills and fire pits, indoor and outdoor pools, and more. More prestigious buildings like those in Lakeshore East might also have wine cellars, business centers, entertainment spaces, movie theaters, and more. Consider what you'd actually use and how it could save you time and effort before you make a decision.
Proximity To Work And Play/Ease Of Commute. Not all luxury elements are in the condo or home itself; rather, some of them are included in the lifestyle that the property affords you. One of them is location - being able to get to work quickly, being near your favorite dining and nightlife options, and otherwise being in the heart of it all might matter more than square footage or premium finishes.
Amazing Views. Of course, we're spoiled for scenery in Chicago, with the iconic skyline, River, and Lake Michigan all close at hand. However, have you considered the simple fact that beautiful views can transform your living space into an interactive work of art that changes based on the weather and seasons. Now that's our definition of true luxury.
Want to determine what luxury means to you in regard to the Chicago real estate market? Our agents will be happy to help, so please get in touch with us today!