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A Healthy Market For $3 Million Condominiums At 4 East Elm

by Chicago Agent

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Gold Coast’s first condo high-rise in years now under construction; delivering early 2016

Since starting sales last summer, 4 East Elm has set a brisk pace with more than 60 percent of the luxury condominiums in the 35-unit development under contract at prices averaging just under $3 million.

The 27-story building is now under construction, and first deliveries are scheduled for early 2016, according to the developer, Chicago-based Convexity Properties.

The development offers privacy and exclusivity, with only one or two residences per floor and private elevator access. Homes feature a contemporary design aesthetic with European style finishes including Florense cabinetry; integrated Sub-Zero, Wolf and Miele appliances; quartz or natural stone countertops; and floating vanities in bathrooms.

Floor-to-ceiling windows accentuate 10’ ceilings and open floor plans ranging from 3,095 to 3,516 square feet for a half floor with three bedrooms plus a study, three full baths, a powder room and an expansive terrace. Plans can be combined for full-floor residences with up to 6,651 square feet. Prices range from $2.1 million to $7.2 million. Deeded garage parking is available from $76,000 per space.

The Gold Coast’s first new-construction condominium high-rise in nearly a decade, 4 East Elm has benefited from pent up demand in the luxury niche. The absence of new condominium deliveries in the neighborhood since 2010 combined with the extensive mobility of the upscale buyer have lent themselves to a successful start on a project that broke ground last fall – ahead of schedule.

“When we approached this project, we knew there was significant opportunity to provide a unique real estate option that would speak to a desire for the most updated luxury finishes and amenities available, in one of the most sought after locations in the city,” said David Nelson, principal with Convexity Properties.

Convexity worked hand in hand with its design team of architecture firm Solomon Cordwell Buenz and interior design firm Gary Lee Partners to create elegant yet functional spaces that gracefully accommodate today’s luxury lifestyles.

“One of the reasons the building has sold so well is that there is no compromise at 4 East Elm,” said Michael Golden, co-founder of @properties, the exclusive sales and marketing firm for the development. “This is a meticulously planned and executed building, and one where buyers will find value, even at multi-million-dollar price points.”

While boutique in nature, 4 East Elm also provides generous club-style amenities. Residents will enjoy a landscaped sundeck, outdoor pool, private lounge, fitness center, movie screening room and 24-hour doorman. Located on the northeast corner of State and Elm streets, 4 East Elm is at the epicenter of Chicago’s Gold Coast neighborhood; surrounded by nightlife, dining and retail boutiques. Delivery is anticipated in early 2016.

For more information, visit www.4eastelm.com or call 312-542-1144.

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