Why you should buy a luxury apartment in Chicago instead of buying a luxury car
Luxury apartments and luxury cars are the most sought after and most sought-after items in the world, but it turns out they can cost a lot more than you might think.
The cost of owning a luxury vehicle in the U.S. is now higher than ever, according to a new report from real estate brokerage CoreLogic.
The median price of a luxury home in the nation’s capital jumped from $2.9 million to $3.4 million last year, according for the Real Estate Institute of Chicago.
The new report shows that luxury car sales increased almost 10 percent from 2013 to 2016, while luxury apartments were up more than 12 percent.
That’s partly because the country’s economy has been so strong for the past few years, with strong jobs and rising incomes, and partly because of new luxury car models like the BMW i3.
The most expensive car in Chicago is a Mercedes SLS AMG that retails for more than $140,000.
But the most expensive luxury home is the 2,100-square-foot home of billionaire hedge fund manager Stephen Schwarzman, with an asking price of $5.9-million.
Schwarzman has been a long-time supporter of the Trump administration and the president’s business and economic agenda.
He’s invested in luxury investments and has also invested in the Trump International Hotel in Washington, D.C., and the Trump Taj Mahal in New York.
“Trump’s continued support for this administration has helped propel the market up, and the market has been in a positive spiral since the election,” said David Shiffman, president of CoreLogo.
“It’s clear that the president has had a very positive impact on the economy, and this is an example of his success in helping the economy.”