David Axelrod Just Sold His Lake Point Tower Condo for $1.28 Million

The profitable sale went for a touch above the political adviser’s asking price.

Photo: Courtesy Redfin

David Axelrod—who has been a top political adviser to Presidents Clinton and Obama—and his wife, Susan, sold their 46th-floor condo at Lake Point Tower Tuesday.

The sale price was $1.28 million, slightly above the asking price of $1.25 million. That suggests multiple bidders drove the price up; I have a call in to the Axelrods’ listing agent, Eugene Fu of @Propeties, to find out.

The couple bought the residence in May 2002 for $950,000, according to the Cook County Recorder of Deeds. According to the listing sheet for the three-bedroom, four-bath condo, the Axelrods did a “complete remodel,” creating a “custom, open floorplan with a massive 38-foot great room perfect for entertaining.”

Listing photos show warm cherry cabinets and dark granite countertops in the kitchen, an office lined with bookcases, and hardwood floors. With Lake Point Tower being the only residential building east of Lake Shore Drive, there are fantastic lake views.

The eight-room condo went on the market May 30, 13 months after the Axelrods bought a $1.7 million condo in Water Tower Place. It went under contract 12 days later, and the sale closed August 6.

 

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1 year ago
Posted by Dennis Rodkin

The buyer of the condo, Sudhakar Balachandran, emailed to explain how the sale price went over the asking price. It wasn't because of multiple offers, as he writes: "The listing price was for the apartment only, but did not include the cost of a separate deeded tandem parking space in the Lake Point Tower garage...The final selling price (the 1.28 million that you quoted) includes the tandem parking space and the condo bundled together.

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