Let’s face it – if you’re hunting for a condo in Chicago, you’ve probably caught yourself wondering whether to go big or stay small. Should you choose that charming vintage 3-flat in Lincoln Park, or is that gleaming high-rise in River North more your style?
Take it from us, this decision affects way more than just your view of the city (although those lakefront vistas are pretty amazing). The size of your building influences everything from your monthly costs to how you’ll handle those famous Chicago winters.
We’re the Ben Lalez Team, and thanks to our founder’s background in construction and development, we’ve seen these buildings from the inside out. That hands-on experience means we know exactly what to look for beyond those freshly painted walls and shiny new appliances.
So before you start booking those showings, let’s talk about what really matters when choosing between a boutique building and a full-amenity high-rise. Trust us, your future self will thank you for doing this homework first!
Monthly Assessments and Fees: Let’s Talk Numbers
Here’s something that might surprise you. When it comes to condo fees in Chicago, bigger doesn’t always mean more expensive. Think of it like splitting the dinner bill: in larger buildings, you’re dividing those maintenance costs among more “dinner guests” which can actually keep individual costs reasonable.
The catch is that those sleek high-rises often come with plenty of bells and whistles. We’re talking fitness centers that rival your local gym and stunning roof decks. All those amenities? Well, they’ll show up in your monthly fees.
On the flip side, smaller buildings typically keep things simple. Fewer amenities usually mean lower monthly fees, but when that vintage elevator needs repairs, there are fewer owners to split the repair bill. Our advice? Always peek under the hood by reviewing the building’s financials and reserve funds before falling in love with any unit.
Amenities and Services: What’s Your Style?
If you’re looking at high-rises in River North or Streeterville, you might find yourself with access to a pool that feels like a resort, a fitness center that’s open 24/7, and staff who can sign for your packages while you’re at work. Sounds pretty sweet, but just remember that all those conveniences come with a price tag.
Meanwhile, those charming smaller buildings in Lincoln Park or Bucktown? They might skip the fancy amenities, but they’ll usually skip the fancy fees too. The question is, are you the type who’ll use that building gym every morning, or would you rather put that money toward your favorite boutique fitness studio down the street?
Community and Privacy: Finding Your Comfort Zone
Here’s a little secret. The size of your building can totally change your social game. In a smaller building, you might find yourself becoming best friends with your neighbors (or at least knowing exactly who’s responsible for that amazing cookie smell in the hallway). You’ll likely be more involved in building decisions too, from choosing the new lobby paint color to coordinating snow removal.
Living in a bigger building is like living in a well-run hotel. You’ve got professional management handling the day-to-day details, and while you might not know everyone’s name, there’s something nice about being able to come and go without stopping for a 20-minute chat about the weather. Some folks love the energy of a bigger community, while others prefer keeping things cozy and intimate.
Maintenance and Management: Who’s Running the Show?
Here’s where size really makes a difference. In smaller buildings, you and your neighbors are often the DIY crew. Need to coordinate snow removal? That’s you. Time to get bids for tuckpointing? Also you. While this hands-on approach usually keeps costs down, it does mean spending some of your precious weekend time discussing building maintenance instead of brunching at that new spot in West Loop.
Bigger buildings typically come with a full professional management team. Sure, it’ll cost you more in monthly fees, but there’s something nice about knowing someone else is handling those late night emergency calls about the heating system. Plus, when those strict Chicago building inspections roll around, you’ve got pros who know exactly what the city’s looking for.
Special Assessments: The Surprise Costs Nobody Loves
Everyone’s least favorite topic is special assessments. Think of these like those unexpected car repairs that always seem to pop up at the worst time. In Chicago’s older buildings, major repairs like facade work or electrical updates are just part of the deal.
In smaller buildings, that $100,000 roof repair gets split between fewer owners. Quick math: that’s a bigger hit to your wallet than if you were sharing the cost with 200 of your closest high-rise neighbors. Larger buildings usually keep a chunkier reserve fund for these surprises, but no building is completely immune to special assessments.
Location and Resale Value: Playing the Long Game
Want to know a fun fact? Sometimes those charming small buildings in neighborhoods like Old Town or Ukrainian Village can actually command higher prices per square foot than their shinier high-rise cousins. Why? It’s all about the character, baby! Those vintage details and unique layouts can be real selling points when it’s time to move on.
But don’t count out those sleek high-rises just yet. If you’re buying in River North or South Loop, you might face more competition when selling (because, let’s be honest, there are a lot of similar units), but being steps from the L and having a gym in your building never goes out of style.
Security: Peace of Mind Comes in Different Packages
In smaller buildings, security is often pretty basic – a locked front door, maybe some cameras, and neighbors who notice when something seems off. If you’re in a quieter spot like North Center or Ravenswood, that might be all you need.
High-rises usually kick it up a notch with 24/7 door staff who know exactly who belongs in the building (and who doesn’t). They’ll guard your packages like hawks and make sure that 2 am food delivery actually makes it to your door. Worth the extra monthly cost? That depends on how much you value never having to worry about missing a package again.
Noise and Environment: The Buzz of City Living
The size of your building plays a huge role in your daily soundtrack. Those smaller buildings in Lincoln Park or Andersonville? They tend to be pretty peaceful, with just a handful of neighbors coming and going. Sure, you might know exactly when your upstairs neighbor starts their morning yoga routine, but overall, it’s usually pretty chill.
Living in a bigger building is more like being part of a bustling little city. There’s always something happening. People hitting the gym at sunrise, dogs heading out for their walks, or folks gathering in the party room. If you’re in the heart of downtown, that energy can be exciting. Just know that you might spend a little more time waiting for elevators during those peak morning coffee runs!
Parking and Storage: The Chicago Winter Game-Changer
Let’s talk about something every Chicagoan understands. Parking is a big deal, especially when that brutal lake effect snow comes rolling in. Bigger buildings usually come with heated indoor parking (goodbye, morning ice scraping!), though don’t forget those spots often cost extra. Plus, you’ll typically find decent storage space for all your seasonal gear.
In smaller buildings? Well, let’s just say winter parking can get interesting. That vintage three-flat might come with a spot behind the building, but you might be playing musical cars during snow removal days. And storage? You might need to get creative with those closets or spring for a storage unit nearby.
Accessibility and Elevators: The Up and Down of It All
Here’s a reality check. Those gorgeous vintage walk-ups in Lakeview might have you rethinking how much you really need those weekend grocery hauls. Without an elevator, that third-floor walk-up can feel more like a mountain climb, especially during Chicago’s infamous winters.
High-rises make life a bit easier with multiple elevators, though be prepared for the occasional morning rush hour in the lobby. Pro tip: if you’re looking at a bigger building, ask about their freight elevator policy for move-ins. Trust us, this detail matters more than you’d think!
Pet Policies: Four-Legged Friend Factors
Here’s something every pet parent needs to know. Building size can make a big difference in your furry friend’s life. High-rises often have pretty specific rules about pets, but many make up for it with dedicated pet relief areas and washing stations.
Smaller buildings tend to be more flexible with their pet policies, especially in neighborhoods like Wicker Park where it seems like everyone has a dog. Just remember to check the rules before you fall in love with a place – you don’t want to find out after the fact that your Great Dane exceeds the weight limit!
Utility Costs: The Bills That Keep On Coming
Here’s something that might surprise you. Your utility costs can vary wildly depending on your building’s size. Those big high-rises often bundle utilities into your assessment. The good news? No surprise bills in winter! The trade-off? You might be paying for heating even during those perfect Chicago spring days when all you need is an open window.
Smaller buildings usually let you control your own destiny (and thermostat). While you’re in charge of your own bills, you can also crank up the heat during polar vortex season without asking anyone’s permission. Just keep in mind that those charming vintage buildings weren’t exactly built with energy efficiency in mind!
Architectural Style and Customization: Making It Your Own
Let’s talk character. Those smaller buildings in Old Town and Ukrainian Village? They’re packed with the kind of vintage charm you can’t manufacture. Crown molding, built-in bookshelves, maybe even an original fireplace. Plus, smaller associations often give you more freedom to put your personal stamp on your space.
High-rises, especially the newer ones along the lakefront, are more like sophisticated siblings – sleek, modern, and usually pretty particular about keeping their look consistent. Want to change your front door style or install new windows? You might need to run that by the board first.
Market Trends and Investment Potential: The Money Talk
Here’s some real talk about resale value. Those units near the Brown Line or Blue Line stations? They tend to follow downtown job market trends pretty closely. When the Loop is booming, these properties can really shine. But remember, you might be competing with similar units in your building when it’s time to sell.
Meanwhile, those quirky vintage units in Lincoln Square or Andersonville often hold their value like champs. They might take a bit longer to sell (because let’s face it, not everyone appreciates vintage radiators), but their unique character can actually be a selling point for the right buyer.
Environmental Considerations: Green Living in the City
Newer high-rises are getting pretty serious about their eco-game. We’re talking smart thermostats, energy-efficient windows, and some even have green roofs. During those crazy Chicago temperature swings, these features aren’t just good for the planet – they’re good for your wallet too.
Smaller buildings might not have all the latest green tech, but they’ve got their own environmental perks. Some savvy owners have updated their vintage buildings with better insulation and modern heating systems. Plus, there’s something inherently sustainable about preserving and updating existing buildings rather than building new ones.
Phew, We’re Done!
There you have it! By the way, if all these details feel a bit overwhelming, don’t worry. That’s completely normal. After all, choosing between a cozy 3-flat and a luxury high-rise isn’t just about picking a place to live. It’s about finding the right fit for your lifestyle.
Think of it like this. That vintage walk-up in Bucktown might give you all the charm and character you’re dreaming of, while that sleek River North high-rise could offer the lock-and-leave convenience you need. Neither one is better, they’re just different paths to calling Chicago home.
Don’t forget that buying a condo is just the beginning of your journey. We love nothing more than seeing our past clients posting photos of their Sunday morning coffee on their vintage balcony or hosting friends in their high-rise party room. That’s when we know we’ve helped someone find not just a property, but their perfect spot in the city.
Looking to explore some buildings in person? Give our team a shout! We’ll help you navigate every quirk and perk that comes with each building style. After all, sometimes you just need to see it (and feel it) to know if it’s right for you.
Want more insider tips about buying in Chicago? Check out our other guides, or drop us a line – we’re always excited to share everything we know about this amazing city we call home!
