A Tower of Prestige with Unusual Activity
The Park Hyatt Residences at 800 N Michigan Avenue have long been defined by exclusivity and discretion. Typically, only a handful of homes trade hands each year. But today’s market tells a different story: 11 closings in the past 12 months, 16 active listings currently on the market, and one residence under contract.
For a building where availability is usually scarce, this level of movement is extraordinary. It offers buyers more choice than ever, while sellers must now navigate a competitive landscape with precision.
Recent Sales | Last 12 Months
| Unit | Beds | Baths | SF | Sale Price | $/SF |
|---|---|---|---|---|---|
| 3703 | 2 | 2 | 2,000 | $985,000 | $492 |
| 5003 | 2 | 2.1 | 2,100 | $1,000,000 | $476 |
| 3803 | 2 | 2.1 | 2,100 | $1,075,000 | $512 |
| 4703 | 2 | 2.1 | 2,000 | $1,110,000 | $555 |
| 4303 | 2 | 2.1 | 2,100 | $1,180,000 | $562 |
| 2002 | 2 | 2.1 | 2,052 | $1,195,000 | $582 |
| 2102 | 2 | 2.1 | 2,100 | $1,225,000 | $583 |
| 2702 | 3 | 3 | 3,200 | $1,400,000 | $438 |
| 5001 | 3 | 3 | 4,200 | $2,350,000 | $560 |
| 3601 | 3 | 2.1 | 4,300 | $2,600,000 | $605 |
| 3902 | 3 | 2.1 | 4,500 | $2,750,000 | $611 |
Analysis:
Some of these closings appear modest on a $/SF basis, but context matters. Many of the lower-priced trades involved homes in original condition. Updated residences with modern finishes, light palettes, and smart-home upgrades continue to command premiums above $600/SF.
This split tells a clear story: buyers pay up for turnkey, while dated homes trade at a discount. For sellers, aligning with today’s design expectations translates directly to stronger outcomes. For buyers, lower-basis opportunities exist for those willing to renovate.
Current Inventory | 16 Active Listings (as of August 26, 2025)
| Unit | List Price | Notes |
|---|---|---|
| 3203 | $875,000 | Entry 2BR |
| 3603 | $1,150,000 | 2BR |
| 3103 | $1,190,000 | 2BR |
| 3301 | $1,695,000 | Mid-tier |
| 4702 | $2,499,000 | Large 3BR |
| 5402 | $2,500,000 | Half-floor |
| 3502 | $2,500,000 | 3BR |
| 2502 | $2,599,000 | 3BR |
| 5401 | $2,600,000 | Half-floor |
| 3402 | $2,699,000 | 3BR |
| 4001 | $2,780,000 | Upper-floor |
| 5901 | $2,995,000 | Nearly $3M |
| 4801 | $3,995,000 | Large 3BR |
| 3501 | $4,500,000 | Upper stack |
| 63PH | $6,950,000 | Penthouse |
| PH64 | $11,700,000 | Trophy penthouse |
Analysis:
This is the widest range of listings in years: from sub-$900K entry homes to a $11.7M penthouse.
-
Lower-priced offerings often reflect original condition — attractive entry points but not representative of the building’s full market potential.
-
Mid-tier homes in the $2–$4M range showcase livable layouts that are drawing steady interest.
-
Top-tier penthouses reaffirm Park Hyatt’s position among Chicago’s premier luxury addresses.
For buyers, the current market is a rare opportunity to compare options across the full spectrum. For sellers, standing out amid this depth requires careful pricing and presentation.
Market Narrative
For Buyers:
Today’s Park Hyatt market offers something that’s rarely been available here: choice. Entry-level opportunities, family-sized residences, and ultra-luxury penthouses are all on the table. Updated residences command premiums, but value exists for those willing to modernize.
For Sellers:
Competition is real. Homes with outdated finishes are selling, but at discounted levels. Renovated, move-in ready residences remain the benchmark, and those that show well are still achieving strong numbers.
For the Market:
With 11 closings in the last year, demand is holding steady. The elevated supply should normalize within 18–24 months if absorption continues at this pace.
Outlook
The fundamentals that define Park Hyatt — hotel-level service, privacy, and an unparalleled Michigan Avenue location — remain unchanged. What’s changed is the current opportunity: a rare breadth of options, inviting buyers to step into one of Chicago’s most prestigious towers at multiple levels.
Whether you’re considering purchasing at Park Hyatt Residences or exploring the timing of a sale, I’d be happy to provide tailored guidance. With 16 homes currently on the market and 11 closings in the past year, every decision here carries weight — let’s make sure yours is strategic.
