Anyone who’s ever watched a remodeling show on HGTV, TLC, Magnolia, or elsewhere, knows not all home upgrades are created equal.
Industry experts, whether they’re TV talking heads like The Property Brothers, or local Chicago expert Realtors like Matt Shrake use a blend of their own experience with hard data like Remodeling Magazine’s annual, “Cost vs. Value” Report.
But a new report goes even beyond that.
Coldwell Banker, the world’s largest luxury real estate agency, has used its global reach to survey and select the leading edge of luxury home renovation trends in 2023.
These are the most-in-demand home trends in the most-exclusive markets for the highest-end clients.
And because this is a global list and Chicago is a global city, we thought we’d highlight some of the most interesting trends in the report.
But also, because Chicago is its own special place, and we are Chicago luxury experts, we also thought we’d highlight some of the most-important-to-Chicago trends.
Top Global Luxury Trends
Double duty kitchen islands – Two islands are better than one, apparently. We like the more-is-more trend in the kitchen here in Chicago, too.
Cabanas – Globally, outdoor curtained divans are still all the rage. And yes, they can work in Chicago, but we typically prefer some more sheltered options for those low-mercury months.
Natural water features – Also, more popular elsewhere than in Chicago, but we do see them worked into our limited-size landscapes, balconies, and roof decks.
Free-standing soaking tubs – Great here, great everywhere, these attractive and artistic high-end tubs, many with breathtaking high-end faucet fixtures, are a great replacement for the clunky whirlpool tubs of the 80’s and 90’s that took up so much space in our master bathrooms.
Smart home features – Smart homes have been talked about for years, but some of the features – digital security, wi-fi thermostats – are simply standard nowadays. And there are some definite new trends like air purifiers, high-tech gyms, and amazing entertainment systems.
Top Chicago Luxury Trends
Chef’s kitchens – Chicago is a foodie town, and just like the global trend, chef’s kitchens are more and more elaborate in many Chicago luxury homes. In Chicago, great islands are in desire, but so are statement range hoods, and especially paneled refrigerators that give a sleek, “built-in” look.
Outdoor fire – Whether it’s an “outdoor chef’s kitchen” or a gas-powered fire pit, the Chicago outdoor trends are much less about cabanas and water features, and much more about entertaining, whether that’s a barbecue and prep area, or a gas fire pit to gather around. Just don’t tell Mrs. O’Leary’s cow.
Art – Chicago has always been an art town, and just like the statement art made in many of the Gold Coast hotel lobby renovations we featured last month, many luxury Chicago homes are making bigger and bolder art statements.
Sanctuary Bedrooms – Chicago luxury bedrooms are becoming more soft and subdued with minimalist décor, and soft, neutral hues. And, it seems, everyone is talking about high-end linens these days.
Soak, Shower, Shave – Like the global trend, freestanding soaking tubs are popular in Chicago, but so are luxury showers with rainforest-style overhead fixtures, customizable water pressure, and ambient lighting, as well as dual-sink vanities for simultaneous primping and shaving for a night on the town.
How was the Best of the Best created?
More than 200 Coldwell Banker Global Luxury Property Specialists shared their insight in September 2023 on the top features and amenities most in-demand with their luxury clientele.
How to put this information into use?
If you simply want to get ideas and add to your home without regard to the impact it has on selling your home in the future, pick out exactly what you like and enjoy it.
You can also feel free to consult with Matt if anything you want to do to your home specifically to sell, or if you want to factor in the future impact on selling your Chicago property.
Matt is a Coldwell Banker Certified Luxury Home Marketing Specialist, a member of Coldwell Banker’s International President’s Elite, in the Top 1.5 percent of Real Estate Agents Nationwide and Top 5 percent globally, and a 2023 Real Trends Award Winner.
Email him at [email protected] or call him at 773-294-2667.
He’ll answer even if he decides to get one of those sound therapy pods.
