800 N MICHIGAN — THE PARK HYATT CHICAGO | MARKET UPDATE 2025
800 N Michigan, known as the Park Hyatt Residences, remains a stable high-end option in the Gold Coast and Magnificent Mile condo market. The building continues to attract buyers seeking privacy, full-service amenities, and proximity to North Michigan Avenue, Water Tower, and the lakefront. Inventory entering 2026 is higher than average, giving buyers a broad range of choices.
CURRENT INVENTORY (AS OF DECEMBER 2025)
| Unit | List Price | Beds | Baths | Notes |
|---|---|---|---|---|
| 3203 | $875,000 | 2 | 2 | Entry-level two-bedroom |
| 2003 | $989,000 | 2 | 2 | Mid-floor, consistent tier |
| 2202 | $995,000 | 2 | 2 | Popular layout |
| 3103 | $1,090,000 | 2 | 2 | Under contract |
| 3603 | $1,150,000 | 2 | 2 | High-floor |
| 4702 | $2,200,000 | 3 | 3 | Larger tier |
| 2502 | $2,290,000 | 3 | 3 | Updated |
| 5401 | $2,300,000 | 3 | 3 | High elevation |
| 5402 | $2,500,000 | 3 | 3 | Private active |
| 4001 | $2,780,000 | 3 | 3 | Corner |
| 5901 | $2,995,000 | 3 | 3 | High-floor |
| 4801 | $3,995,000 | 3 | 3.1 | Larger floorplan |
| 3501 | $4,300,000 | 3 | 3.1 | Southwest exposure |
| 63PH | $6,950,000 | 3 | 3.1 | Penthouse level |
| 60PHN | $7,700,000 | 4 | 4.1 | Private active penthouse |
| PH64 | $11,700,000 | 4 | 4.1 | Full-floor penthouse |
Analysis:
Sixteen active listings represent elevated inventory. Pricing shows the widest range of any major luxury building in the area, with strong representation in both mid-level ($875K–$1.3M) and high-floor three-bedroom tiers ($1.8M–$3M). Penthouse inventory remains available but typically absorbs more slowly.
RECENT SALES | LAST 12 MONTHS
| Unit | Beds | Baths | Closed Price |
|---|---|---|---|
| 3703 | 2 | 2 | $985,000 |
| 5003 | 2 | 2.1 | $1,000,000 |
| 4703 | 2 | 2.1 | $1,110,000 |
| 4303 | 2 | 2.1 | $1,180,000 |
| 2002 | 2 | 2.1 | $1,195,000 |
| 2102 | 2 | 2.1 | $1,225,000 |
| 2702 | 3 | 3 | $1,400,000 |
| 3701 | 3 | 3.1 | $2,150,000 |
| 5001 | 3 | 3 | $2,350,000 |
Analysis:
Recent transactions concentrate in the $985K–$1.3M tier, which historically reflects the strongest buyer activity at Park Tower. Three-bedroom units between $1.4M and $2.35M continue to perform in line with long-term pricing patterns. No penthouse-level closings occurred in the past twelve months.
MARKET NARRATIVE
FOR BUYERS
The building offers a wide selection of two- and three-bedroom layouts across numerous elevations. Inventory is deeper than usual, especially between $900K and $1.3M, creating more flexibility for buyers in that segment. High-floor residences offer strong view value relative to neighboring luxury buildings.
FOR SELLERS
Sellers should remain price-conscious due to elevated inventory. Updated interiors, favorable exposures, and higher elevations continue to support stronger performance. The most reliable activity occurs in the $900K–$1.3M range; larger layouts require strategic pricing to achieve timely absorption.
FOR THE MARKET
Park Tower continues to show stable, predictable behavior within the Gold Coast luxury segment. Hotel-level services and central location support long-term demand. Inventory levels are higher than typical, but absorption remains steady for appropriately priced units.
OUTLOOK FOR 2026
Expect continued activity in the $900K–$1.3M segment. Larger units should see moderate but steady demand. Penthouse-level listings may experience longer market times but remain supported by limited supply and building reputation. Overall pricing is expected to remain stable.
