Introducing the First-Ever Engel & Völkers Global Private Office Report — And how it reflects Chicago’s Luxury Market

The first-ever Engel & Völkers Global Private Office Report is here — a global look at the ultra-high-end market that reflects exactly what we’re experiencing in Chicago.

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This year marks the release of the first-ever Engel & Völkers Private Office Report, a global look at the ultra-high-end real estate segment through the lens of the brand’s most exclusive advisory group. Focused on the world’s most discerning buyers and sellers — those acquiring legacy estates, architecturally significant homes, and international second residences — the report sets a new benchmark for understanding luxury at the very top of the market.

In many ways, it complements the work of firms like Henley & Partners — The Firm of Global Citizens — whose research consistently underscores how mobility, lifestyle, and global citizenship now shape UHNW choices. Together, these insights paint a clear picture of where luxury is heading next.

Its findings closely align with what we’re seeing across Chicago’s luxury corridors, offering valuable guidance for clients making strategic moves in 2026.

A Global Shift: Lifestyle Over Excess

The report’s clearest message is that luxury is being redefined worldwide.
Across continents, high-net-worth clients are prioritizing quality of life — not the excess and scale that once defined traditional luxury.

Buyers are increasingly drawn to homes that offer:

• Meaningful outdoor space

• Access to nature or water

• Wellness-driven amenities

• Privacy and security

• Thoughtful, efficient design

• A sense of calm, comfort, and long-term value

This represents a meaningful global pivot from opulent to intentional living.

Chicago Mirrors the Global Movement

What’s happening globally is playing out with sharp clarity here in Chicago.

Throughout the neighborhoods we represent — Streeterville, the Gold Coast, River North, Lincoln Park, and the West Loop — the homes generating the strongest buyer response share the same characteristics highlighted in the Private Office Report: they live exceptionally well.

Chicago’s luxury buyers are choosing:

• Lakefront terraces over unused square footage

• Perfectly renovated vintage homes over larger but dated options

• Highly walkable neighborhoods with culture, dining, and wellness

• Full-service buildings offering exceptional privacy and security

• Intelligently designed pied-à-terre opportunities for flexible living

In a city built on architecture, culture, and lifestyle, these priorities resonate deeply.

The Rise of “Smart Luxury”

A defining theme of this inaugural report is the rise of smart luxury homes that balance design intelligence, function, and efficiency.

This shift is unmistakable across Chicago’s top-tier inventory.
Whether it’s a modern residence overlooking Lake Michigan or a curated landmark property in Lincoln Park, buyers are gravitating toward homes that offer elegance without unnecessary scale.

Smart luxury homes typically:

• Appreciate more consistently

• Offer lower long-term maintenance

• Deliver flexibility for global or bi-city lifestyles

• Appeal to a broader international buyer pool

Simply put, smart luxury is outperforming big luxury, both globally and here at home.

Privacy, Security & Resilience Are Leading the Conversation

Another standout finding in the report is the growing desire for privacy, security, and long-term resilience.

Chicago’s luxury buyers echo this, gravitating toward properties with:

• Strong building, staffing, and concierge-level service

• Secure, stable associations

• Architectural durability

• Quiet, established streetscapes

• Immediate access to parks, trails, and the lakefront

In a world where grounded living matters more than ever, homes that feel protected and restorative are carrying premium weight.

Why This Matters for Chicago Buyers & Sellers in 2026

As the first publication of its kind, the Private Office Report provides clarity to anyone navigating luxury real estate today:

• For sellers: Lead with your home’s lifestyle story — livability, privacy, design, and quality now matter more than stats and specs.

• For buyers: Chicago remains one of the world’s most value-forward luxury markets, perfectly aligned with global trends toward intentional living and cross-border mobility.

• For both: Strategy, timing, and presentation will shape the strongest outcomes in 2026.

This inaugural report confirms what our clients here already know: luxury is evolving, and Chicago is evolving along with it.

Explore the Full Private Office Report

For those who want the deeper global context and insight into UHNW trends, you can read the complete Engel & Völkers Private Office Report here:

🔗 Engel & Volkers Private Office Report 2026

Thinking About Your Next Move?

Whether you’re considering selling, upgrading, or investing in a pied-à-terre, we’re here to help you move with intention — in Chicago and across our growing international network.

Let’s talk strategy.

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