Quote:
Originally Posted by A42251
I have noticed a recurring theme on this forum about how Chicago is the best urban bargain in the country, if not the world (For example, Chicago103 and Steely Dan both live in world-famous skyscrapers at great prices). Chicago seems to be an anomoly, a freak of nature. I am dying to know why this incredible city is do darn affordable when real-estate prices in so many lesser places are in the stratosphere.
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It really is supply, the fact that Chicago is constructing so many luxury condo buildings is helping me to afford living in the John Hancock. The fact that buildings like the Waterview Tower, Trump Tower and Chicago Spire are going up means that people with alot of money are buying in those buildings before they would buy in the old classic buildings (Marina City, Lake Point Tower, Hancock, etc) although the Hancock has name recognition and a good deal of prestige it is 36 years old, many of the units are unupdated and while the building has alot of nice facilities it is not considered an ultra luxury building like TTC or CS will be. There is literally nowhere else in the world that I can live on the 91st floor like I do for so cheaply, well as of today there is no other building in the world where you can live on the 91st or 92nd floors period but that will change soon but even after that no place in the world will likely offer the relative affordability for the sheer height above the ground.