The phrase identifies real estate transactions within a specific luxury residential building in Chicago, wherein the property is offered for sale directly by the current titleholder, rather than through a traditional real estate brokerage acting as an intermediary. This implies a direct negotiation process between the seller and a prospective buyer for a unit inside the Trump International Hotel & Tower Chicago.
This type of transaction can potentially offer benefits to both parties. Sellers might perceive an opportunity to save on commission fees typically associated with agent representation. Buyers, on the other hand, might believe they can negotiate a more favorable purchase price by dealing directly with the owner. Historically, such arrangements have varied in prevalence depending on market conditions and individual seller circumstances, often influenced by factors like urgency to sell and expertise in real estate transactions.