Lincoln Park 2550 condo with antique Tibetan doors lists for $3.2 million

 Photos courtesy of Sarah Ziehr, Redfin

Photos courtesy of Sarah Ziehr, Redfin

A condo in a building designed by Chicago’s architect for the wealthy, Lucien Lagrange, has listed in Lincoln Park for $3,250,000 million. The property is full of multi-million dollar homes and is known for some of the priciest listings in the area.

The high-floor, 2,900-square-foot space at 2550 N. Lakeview Avenue comes with antique Tibetan sliding interior doors, hand-painted foyer walls, a private terrace with panoramic views plus one-of-a-kind decor from Anthony Michael Interior Design.

The smoke-colored glass fireplace dividing the living room is one feature that caught our eye. Along with bathroom outfitted in black and white floral wallpaper and a bright gold sink. The owner of the three en suite bedroom home is willing to negotiate selling the unit completely furnished too—save for a few light fixtures that are out of the question. 

Aside from the condo, the building is quite glamorous as well. The backyard holds Lincoln Park’s lagoon, a historic wooden pergola and a 1.5-acre private park. There’s a 24-hour door staff, valet parking, indoor pool and spa, fitness center, library, dog run, movie theater and more.

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Source: Chicago Curbed

View Condos for Sale of Rent at Lincoln Park 2550

Trump Tower condo that Steve Harvey rented sells for nearly $8 million

 This Trump Tower condo sold yesterday for $7.7 million.

This Trump Tower condo sold yesterday for $7.7 million.

The 88th-floor condo at the Trump International Hotel & Tower where television host Steve Harvey lived as a renter for five years sold yesterday for $7.7 million.

The 5,500-square-foot unit went for $1,400 a square foot, the highest any unit in the building has gone for, according to Chezi Rafaeli, the Coldwell Banker agent who represented seller Waltraud Legat. Legat, an investor who lives in Florida, bought the condo for $3.7 million in 2009 from the Trump entity that developed the building. 

Rafaeli said Legat bought the unit as finished by the developer, while most buyers of the larger units upgraded with their own higher-priced finishes. He said he believes the buyers of the 88th-floor unit plans renovations that could add multiple millions to the cost of the condo. 

The buyers are not yet identified in public records.

The purchase price is the fifth-highest price for a Chicago-area home so far in 2018, coming in below two condominiums on Walton Street and two properties in Winnetka. By this time last year, there had been one upper-bracket sale, a Lincoln Park home that went for $7.2 million.

At $1,400 a foot, the Trump condo is close to two times the average paid for condos in the building in 2017. Crain's reported in January that the average was $747 a foot, down from $846 a year earlier. 

The condo, which occupies half the tower's 88th floor, has 16-foot ceilings and three fireplaces, according to Rafaeli's listing. 

Steve Harvey rented the unit from 2012 until 2017, while filming his syndicated "Steve Harvey Show" in Chicago. Production of the show shifted to Los Angeles in May. While the asking rent before Harvey moved in was $22,000 a month, both Rafaeli and Legat have in the past declined to specify for Crain's what Harvey was paying.

Legat listed the condo for sale or rent in April. For sale, the asking price was $9.5 million, and for rent, it was $25,000 a month. The asking price did not come down before the condo went under contract Jan. 18. 

The sale closed yesterday at 81 percent of the asking price. 

An 87th-floor unit in the building with an asking price of almost $10 million, cut from the original September 2016 asking price of $12.7 million, has been under contract to a seller since December. Neither agent attached to the deal has disclosed the price it well sell at.

Click Here to view more listings at 401 N Wabash Ave

Source: Crain's Chicago Business

$8.95 million Lincoln Park mansion hits the market — the second highest-priced listing in area

 The five-bedroom Lincoln Park mansion is listed for $8.95 million. (@properties)

The five-bedroom Lincoln Park mansion is listed for $8.95 million. (@properties)

A five-bedroom, 7,800-square-foot mansion made of exposed brick and industrial metal in Lincoln Park listed Monday for $8.95 million.

Built in 2010 and designed by Chicago-based Liederbach & Graham Architects, the house is owned by Novak Construction founder John Novak, who also was the contractor for the mansion. Set on a 45-foot-wide lot, the mansion is set back from a walled garden, and the entire first floor of the mansion opens to the outdoors.

Features include 6½ baths, three fireplaces, steel Hope’s Windows, a 900-bottle wine cellar and tasting room, a recreational room with a sauna on the lower level and an attached three-car garage with a brick floor. Above the garage is a guest suite with a full kitchen and living room.

Listing agent Emily Sachs Wong of @properties called the mansion “classic Chicago,” and noted that Novak modeled the home’s exterior on an old warehouse in the neighborhood. The interior, however, is “really modern,” she said, with “very clean lines.”

“It is one of the coolest homes I have ever been in. It is ridiculously high-end inside, with finishes that are not typically done in the city,” she said. “It is one of the most private, beautiful houses in Lincoln Park. It’s just like a secret garden behind the wall. The house was set back to allow for an open feel, with lots of light.”

Wong said that Novak, who did not immediately respond to a request for comment, is selling because he “doesn’t need as large of a house right now.”

“It’s really a find for the next owner,” she said. “There’s nothing else like it in the city.”

The mansion is one of the highest-priced active listings in Lincoln Park. The only higher-priced current listing of a house in Lincoln Park is a $9.9 million listing for a 10,000-square-foot mansion on North Wayne Avenue that also was designed by Liederbach & Graham. However, that mansion is only available for $9.9 million including adjoining land that has an income property on it; without that adjacent parcel, that mansion is available as a stand-alone for $8.5 million.

Source: Bob Goldsborough

 

Got $900 million? Vista Tower is up for sale

 Vista Tower Chicago

Vista Tower Chicago

Designed by renowned architect Jeanne Gang and poised to become Chicago’s third tallest building, Chicago’s Vista Tower could soon have a new co-developer as China’s Dalian Wanda Group looks to sell its sizable, 60 percent ownership stake in the 94-story riverfront skyscraper.

Codeveloped Chicago’s Magellan Development, the under-construction Vista Tower was among five overseas properties that the Beijing-based company was reportedly trying to unload last fall for a combined $5 billion. At the time, Wanda was quick to dismiss the reports as “inaccurate.”

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A report by Bloomberg News confirms that the company is indeed seeking takers for the $900 million Vista project along with a West Coast project known as One Beverly Hills. Wanda also sold its ownership position in London’s One Nine Elms project and a pair of Australian developments earlier this month. 

The company’s sudden selling spree isn’t a case of cold feet but rather the a result of Chinese government regulators cracking down on what they viewed as excessive (and risky) offshore spending by its largest conglomerates—including Wanda. Beijing had also pressured banks to curb lending for big overseas investments.

With a $700 million construction loan and a healthy number of condo pre-sales already in hand, a change in ownership may have little effect on Vista’s forward momentum. 

Less clear is the fate of the 210-room Wanda-branded luxury hotel slated for the building’s lower floors. Dalian Wanda sold off most of its Chinese-based hotels last year.

The frustum-shaped supertall broke ground in late 2016 and is already more than a fourth of the way to its final height of 1,186 feet. Construction is expected to be complete by early 2020.

Source: Chicago Curbed

Billionaire exec Ken Griffin pays $58.75 million in Chicago area's priciest home sale ever

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Billionaire Ken Griffin, Illinois’ richest man, has added to his already sizable real estate portfolio in Chicago, paying $58.75 million in November for the top four floors in the recently completed Near North condominium building at 9 W. Walton St., known as No. 9 Walton.

Public records show that Griffin paid $21.17 million for the building’s penthouse unit on the 38th floor, and he paid $12.95 million for the entire 37th floor. Griffin paid $12.13 million for the entire 36th floor and $12.5 million for the 7,100-square-foot 35th floor.

Whether one considers the sales all as one combined $58.75 million purchase or considers them as four individual sales whose highest-priced one is the $21 million-plus penthouse unit, Griffin now has captured the crown of paying the most money ever for a Chicago-area home. He dethroned another billionaire, Groupon co-founder Eric Lefkofsky, who in 2014 paid $19.5 million in cash for a vintage, 15,800-square-foot mansion on 4 acres on Lake Michigan in Glencoe.

The founder of hedge fund Citadel, Griffin bought the units two months ago through his 9 West Walton Holdings company, a Delaware limited liability company that is headquartered at Citadel’s office address in Chicago. The seller of the four units was No. 9 Walton’s developer, JDL Development.

JDL President Jim Letchinger confirmed that Griffin is the buyer.

“He’s proud to live in Chicago, and proud to live in this building,” Letchinger said.

Letchinger declined to say the exact size of the combined units, but called the figure more than 25,000 square feet.

Letchinger said there are 70 units in No. 9 Walton, and all but two are under contract. No. 9 Walton residents will start moving in March 1, he noted. The deals of buyers who purchased raw space, like Griffin, have already closed. All other buyers remain under contract, with closings expected to take place as buyers take delivery of finished units in the coming weeks, Letchinger said.

One needs a scorecard to keep track of all of Griffin’s real estate around the U.S. He owns a full-floor unit on the 37th floor of the Waldorf Astoria, which he purchased in 2014 for $13.3 million, and he owns the top two floors in the Park Tower. He purchased the top-floor unit on the 67th floor in 2000 for $6.9 million, and he bought the 66th floor in 2012 for $15 million. He also paid $200 million in 2015 for three full floors of a luxury condo tower in midtown Manhattan. In addition, Griffin has owned properties elsewhere in the U.S., including in Aspen, Colo.; Palm Beach, Fla.; and Hawaii.

Source: Bob Goldsborough