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Old July 10th, 2009, 07:47 PM   #1
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Second-Home City

The Second City Is Becoming Second-Home City

Published: July 9, 2009

Sally Ryan for The New York Times. Chris and Kristine Warnes’s second home has views of Lake Michigan from the rooftop deck.


CELEBRATING their wedding anniversary in April at the Palmer House Hilton in downtown Chicago, where they were engaged 10 years ago, Chris and Kristine Warnes knew they would be taking home beautiful memories of a luxurious weekend. They had no idea that they would be taking home a new condominium, too — a pied-ā-terre with views of the deep blue of Lake Michigan and the bustling street life of the Magnificent Mile along Michigan Avenue.

About a week after they returned home to the suburb of Naperville, Ill., their offer of $290,000 for a 900-square-foot loft in a former Montgomery Ward building, now called Six North Michigan, was accepted. The unit, listed at $325,000, has Italian kitchen cabinetry with granite and tile accents throughout, and access to building amenities like a theater, a gym and a heated indoor garage.

“Well, of course, if we’re offered something that’s listed $30,000 under the customized price everybody else would have to pay, we’re going to jump on that,” Mr. Warnes said. “For several years, we had talked about a place in the city. It will allow us to live out our dreams earlier that we thought.”

After long playing second fiddle in the glamour game to coastal cities like New York and Los Angeles, Chicago has become a second- and vacation-home hot spot, fueled by its market of new condos and converted high-rise and loft buildings. Buyers are drawn to its revitalized neighborhoods, perennially strong theater scene, groundbreaking modern architecture and relative affordability.

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Old July 11th, 2009, 03:19 AM   #2
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jealous ,such harmony
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Old July 11th, 2009, 10:00 AM   #3
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I was a bit shocked at the price, less than $300k for a place on Michigan Ave. I wish I had the cash.

And really, if you live overseas why not choose Chicago over other U.S. cities, the price is so insanely cheap for what you get. You can get a condo for about $300k that includes some of the best restaurants in the world, some of the best theater, and shopping. Chicago is a good deal, at least right now.
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