Condos in Chicago’s Lakeshore East are selling faster than a cold beer at Wrigley

Sales at Cirrus Condominiums in Chicago’s Lakeshore East have more than doubled in the first half of 2026 as shrinking inventory and steady demand draw buyers back downtown, according to Jameson Sotheby’s International Realty and The Real Deal. The 47-story tower at 211 N. Harbor Drive closed on 46 units and had 15 more under contract, for a total of 61 sales in the period, the report confirmed. That compares with 24 units sold in the same stretch a year earlier and 13 units in the first half of 2023, per Jameson Sotheby’s data. 

Sarah Rodriguez, vice president for development at Jameson Sotheby’s, said, “I wish we had a lot more inventory to sell now,” according to The Real Deal’s report. Rodriguez confirmed in the report that the buyer pool at Cirrus is largely made up of older professionals, many between 50 and 60, who want to downsize or keep a second home near family.

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Per The Real Deal, Michael Rosenblum, an agent with Berkshire Hathaway HomeServices Chicago, added that the buyer profile also includes people returning to the city and buyers with acquired or generational wealth.

The building, built by Chicago-based Magellan Development and part of the Lakeshore East community, includes 350 condos ranging from one- to four-bedroom layouts, along with penthouses and townhomes. It opened to residents in early 2022 after pre-sales began in 2019, the Real Deal confirmed.

Lakeshore East continues to expand

In another big move by Magellan, nearly 25 years after breaking ground at Lakeshore East, the group may bring in a new capital partner for one of the neighborhood’s last major buildout sites, according to an earlier report by The Real Deal. CBRE is marketing a South Korean investor’s stake in the land at 193 North Columbus Drive, where a large mixed-use tower is planned, along with about 102,000 square feet of adjacent retail at 333 East Benton Place.

The interests are held by Seoul-based Hanwha Engineering & Construction and can be sold together or separately, according to the report. CBRE’s John Jaeger and Tom Svoboda are handling the development site, while Michael Wilson and Christian Williams are marketing the retail space, the Real Deal noted.

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Magellan CEO David Carlins said a new partner would not change the company’s long-term vision for Parcel O, the Columbus Drive site. The parcel is zoned for up to 574 apartments, 239 hotel rooms and more than 10,000 square feet of retail, according to the report.

Magellan and Hanwha reached a deal last year to bring U.K.-based Hoxton to the project for what would be its second Chicago hotel, according to The Real Deal. The site is one of the last remaining development parcels in the 28-acre Lakeshore East master plan, built on a former nine-hole golf course east of the Loop, per The Real Deal.