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When you think penthouse, many of us picture the high-in-the-sky, ultra-luxury condos that come with a several-million dollar price tag. And yes, penthouses like those are certainly highly coveted in the Chicago real estate market.

I’ve talked a lot about trends that we continue to see month to month in Chicago home sales–lot sizes, new construction, and noteworthy architecture are just a few of the common features found among the properties that are selling now.

Luxury real estate in Chicago is often all about the details–exquisite finishes, meticulous construction, and all of the “little stuff’ that helps set a property apart from others.

We continued to see a strong number of luxury home sales in Chicago last month, but a new trend shows that sales in July skewed toward lower-priced properties than we’ve seen in recent months.

If there’s something every Chicago real estate buyer loves, it’s finding a place with a view. Whether its a vista over Lake Michigan or a panorama of the enviable skyline, a property that towers above the city is something many buyers pine for.

I’ve talked a lot about the opportunities that await buyers in today’s market, and this Chicago condo for sale ranks near the top.

At the beginning of this year, there were a lot of expectations for Chicago real estate in 2012. And it’s been volatile–one week looking up, the next looking down.

For buyers looking to buy a home, there’s an old tactic of creating a list of features they’re looking for: those that are “must haves,” and those that are “nice-to-haves.”

With sales over $55 million during the month of May, luxury condos continue to move in the Chicago real estate market.

The numbers are in for luxury single-family homes that sold in May, with total sales just over $40 million and 26 homes sold.