Tribune Tower Condos
Q2 2026 Market Update
Tribune Tower feels different than it did a year ago.
Not because the building has changed. The market around it has.
When the first homes began trading, most conversations revolved around the conversion itself. Buyers wanted to understand the building, the finishes and whether the market would support the pricing. Those questions have largely disappeared. Today the conversations are much more specific. Which floor plans have held up best? Does it make more sense to buy from the developer or from another owner? Is there still value here?
To me, that's a sign of a building that's settled into itself.
I've now represented buyers and sellers in more than twenty Tribune Tower transactions, including the buyer of Residence 810 this quarter, and I'm currently involved in another off market transaction inside the building. After spending that much time here, the market becomes easier to read. You stop looking only at sales prices and start paying attention to patterns.
The biggest one right now is the two bedroom market.
I don't think it's getting enough attention.
The obvious explanation is price, but I don't think that's actually the reason.
Tribune Tower's two bedroom homes strike a balance that's becoming harder to find in newer luxury buildings. The layouts are efficient without feeling compromised, the monthly assessments are considerably lower than many of the larger homes and they work equally well for someone living in the city every day or someone who simply wants a place in Chicago. They ask buyers to make very few compromises.
That's why I think they've quietly become the strongest part of the building.
The Quarter in Context
Five homes closed during the second quarter, with prices ranging from $1.4 million to $3.95 million. One additional residence is currently under contract and nine homes remain publicly available.
Those numbers are useful, but they don't tell the whole story.
The more interesting takeaway is where activity continues to concentrate. The largest and most expensive homes still have a buyer, but that buyer pool has always been relatively small. The middle of the market is where things continue to move, particularly when a well positioned two bedroom becomes available.
That's not unique to Tribune Tower, but I think it's especially pronounced here because the floor plans are unusually good.
Q2 Closed Sales
Residence | Beds | Baths | Closed Price |
|---|---|---|---|
810 | 2 | 2.1 | $1,400,000 |
412 | 1 | 1.1 | $1,435,000 |
814 | 2 | 2.1 | $1,800,000 |
1403 | 3 | 3.1 | $2,725,000 |
1203 | 3 | 3.1 | $3,950,000 |
Residence 1203 naturally drew the headlines, but the transaction I found myself thinking about most was Residence 810. I represented the buyer, and it reinforced something I've believed for a while. A well bought two bedroom at Tribune Tower is one of the more compelling opportunities in Chicago's luxury condominium market today. The numbers matter, but so does the basis. Buying the right home is often more important than buying the biggest one.
What's Available Today
Current inventory paints a fairly clear picture.
If you're looking for a three or four bedroom home, there are several strong options across a wide range of price points. The two bedroom market is much tighter, which helps explain why those homes continue to attract so much attention.
Residence | Status | Asking Price |
|---|---|---|
701 | Active | $1,800,000 |
414 | Pending | $2,000,000 |
1803 | Active | $2,995,000 |
1801 | Active | $3,175,000 |
1703 | Active | $3,400,000 |
1603 | Active | $3,500,000 |
1105 | Active | $3,625,000 |
1112 | Active | $4,300,000 |
2601 | Active | $4,500,000 |
2203 | Active | $7,000,000 |
One thing I've noticed is that serious buyers rarely limit themselves to what's publicly available. Some of the best opportunities inside Tribune Tower never reach the MLS. I'm currently working on another off market transaction in the building and also have an off market opportunity available for buyers who have been waiting for the right home. That's one of the advantages of spending enough time in a building like this. Eventually, the market extends beyond what everyone else can see.
If I were buying at Tribune Tower today, I wouldn't separate resale inventory from developer inventory. I'd look at both.
A few years ago those were two very different conversations. Today, the gap has narrowed. The developer still has a limited number of residences available, but pricing has adjusted from the building's initial release and buyers have something they didn't have before: context. Years of resale history have made it much easier to understand where value exists, which floor plans have performed well and how different homes compare over time.
That doesn't mean every developer residence is the right purchase. It simply means they're worth evaluating with the same level of scrutiny as any resale. In some cases the better opportunity will be a resale. In others, it may be one of the remaining developer homes. I don't think there's a universal answer, and that's what makes today's market more interesting than it was during the early years of the building.
The Building Today
One of the biggest differences between now and the building's first few years has very little to do with pricing.
It's confidence.
Owners know what they own. Buyers know what they're walking into. There have been enough resales to establish meaningful benchmarks, and enough time has passed that people understand how the building actually lives. The conversations have become more nuanced as a result. They're less about the building itself and more about individual homes, individual floor plans and individual opportunities.
That's usually the point where a building begins to establish its long term reputation, and I think Tribune Tower has reached it.
Beyond the Public Market
One thing that isn't reflected in quarterly sales reports is how much activity happens before a property ever reaches the MLS.
Some owners prefer privacy. Others simply want to understand what demand looks like before making a public decision. In a building like Tribune Tower, where inventory is relatively limited and buyers are often watching closely, those conversations happen more often than people realize.
I'm currently representing another off market transaction in the building and also have an off market buying opportunity available. Neither is reflected in the public data, but both are part of today's market. That's why I always encourage serious buyers to think beyond what's publicly available. The MLS is an important tool. It just isn't the entire market.
What I've Been Seeing
The longer I spend inside one building, the less interested I become in quarterly statistics on their own.
The numbers tell you where the market has been. The conversations usually tell you where it's going.
One trend I've noticed repeatedly over the past year involves buyers who begin their search convinced they need a three bedroom home. After touring several of Tribune Tower's better two bedroom layouts, many leave having changed their mind. It's not because they're lowering their expectations. If anything, they're becoming more intentional about how they want to live.
The two bedroom homes make a strong case for themselves. They waste very little space, the carrying costs are noticeably lower than many of the larger residences and the layouts feel complete rather than compromised. For a full time resident or someone looking for an in town home, they're difficult to overlook.
That doesn't diminish the appeal of the larger residences. Some of the finest homes in the building have three and four bedrooms. It simply reinforces something I've believed for a while: not every segment of the market moves at the same pace, and understanding those differences is often more valuable than watching quarterly sales totals.
Looking Ahead
Trying to predict where the market will be six months from now has never been particularly interesting to me.
Watching the patterns is.
Right now those patterns seem fairly clear. The remaining developer inventory continues to shrink, well priced resale homes continue to find buyers and demand for the better two bedroom floor plans hasn't slowed. I don't expect any of those trends to change dramatically through the second half of the year.
Markets evolve gradually. Tribune Tower is no different. What stood out this quarter wasn't a sudden shift. It was the continued strengthening of trends that have been developing for some time.
Final Thoughts
I've always thought the best buildings become easier to understand with time.
Tribune Tower is a good example.
The excitement surrounding the launch has faded, and what's left is a market built on real sales, real owners and enough history to evaluate opportunities with confidence. That's a better environment for buyers, it's a healthier environment for sellers and, in my opinion, it's where the building was always headed.
Whether you're thinking about buying your first home at Tribune Tower, considering a sale or simply curious how today's market compares to where it was a year ago, I'm always happy to share what I'm seeing. Some of the best conversations I have never turn into a transaction, and that's perfectly fine. Understanding the market is usually the first step toward making a good decision, whether that decision happens next week or next year.
