Trump’s Chicago tower reaches milestone

It’s a tough residential real estate market out there. But that isn’t stopping Donald Trump from making money.

Trump International Hotel & Tower, Trump’s Chicago hotel/condominium project, closed its 125th hotel/condominium unit late last month. That pace is surely slower than what Trump Tower’s sales would have been in a stronger residential market. But it’s not bad: Trump Tower sales agents sold the 125 hotel/condominium units in six weeks.

The tower sits in a prime location in downtown Chicago, along the banks of the Chicago River. It includes 486 tower condominiums and 339 hotel condominiums. According to the Chicago P.R. agency promoting Trump International Hotel & Tower, sales agents have sold 75 percent of all the homes in the project.

These are strong numbers. But I’m sure when construction began on the project that Trump and his advisors thought they’d have sold more than 75 percent of the tower’s residences by now. The Trump name still counts for a lot in residential real estate. But the rough economy and horrible real estate market count for a lot, too.

Trump will sell out. It just might take a little longer than anyone thought.