![]() ![]() While the nation’s in a fit of pulling down monuments, it seems odd to leave alone one man’s garish celebration of himself. More’s the pity - I’d love to know if the condo owners have the gumption or the power to yank those 20-foot-tall Trump letters off the building. I wanted the perspective of the Trump Organization and the tower’s condo association, but they did not return messages. A prominent agent working in River North told me she shuns the building because of her political beliefs. Three who have listings there didn’t return calls or declined to discuss the property. Real estate agents, normally a loquacious group when it comes to buildings that can pull in big commissions, don’t want to say much about Trump tower. He sought Michigan Avenue prices for space unlikely to draw Michigan Avenue traffic. According to the lawsuit, over 200 units in the complex are actively advertised and offered as short-term apartment rentals. ![]() Lastly, there’s the tower’s retail space, which Trump has never been able to lease. In the lawsuit, the Opera Tower Condominium Association and its board of directors are accused of breaking Miami zoning ordinance 21, which bans short-term leases in multifamily structures like the Opera Tower. Last year at this time, those hotels were more than 80% full. We don’t know exactly how badly the Trump hotel is doing, but the travel research firm STR reports that among all Chicago luxury hotels, room occupancies were just 3% in April and 4.5% in May. ![]() Listings of these units on indicate many have been marketed for months, with prices that have fallen more than 30% in the last couple of years. The hotel-condo units have the added burden of a crushed travel market. ![]()
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