Some of Today's Penthouses May Be An Illusion of Exclusivity

Posted by Terri McAuley on Wednesday, July 15th, 2015 at 9:00am

Chicago Penthouses

When you hear the word “penthouse”, ideas of a lavish top floor residence with stunning views and an exclusive status unlike anything else on the market may come to mind. But over the years, developers have expanded on what many of us consider a penthouse to be, using the term more for marketability than anything else.

In some newer construction buildings around Chicago and other major cities, usually the larger developments that house hundreds of individual units, it’s now fairly common to see a larger group of condos being labeled as penthouse units, with many of which not even located on the top floor.

At The Legacy at Millennium Park in The Loop, for example, you’ll find a number of “Penthouse Residences” available on floors 69-72. And although each unit is pretty comparable, with the exception of the 9,300+ square foot unit with five beds and six baths, can a penthouse really be considered a penthouse if 3 floors of condos are above you?

Well, in today’s real estate landscape, the answer is usually a resounding ‘yes’, and generally speaking, many of today’s home buyers really don’t care.

Simply put, if the illusion of exclusivity exists through a label, that’s usually good enough for them.

Looking for Chicago penthouses for sale? Start your search today or call me at (312) 330-3211 to schedule a private showing for a penthouse condo in Chicago you'd like to see in person!

By:  Terri McAuley

Chicago Condos for Sale

Cell: 312-330-3211

“Chicago’s Luxury Condo Specialist”

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