It happened, folks. The Trump Tower penthouse, dizzying by many measures, has sold for $17 million, beating the previous record price for a Chicago condo by $2 million—set by billionaire Ken Griffin. The 14,260-square-foot unit went to Sanjay Shah, the founder and CEO of Vistex, a global software provider based in Hoffman Estates. Shah was able to pay all cash—not atypical at the very top of the market—and has ambitious plans for the $15 million saved on the $32 million asking price. He’s going to invest it in interior design.
The semi-raw property’s 16-foot floor-to-ceiling windows and circular, labyrinthine layout scarcely resembles Trump Tower’s lesser condos. As Shah told the Tribune’s Melissa Harris, he intends to knock out walls and take at least a year to reinvent the space. The 89th floor perch was the tallest residence in the Western Hemisphere when built in 2008 and will remain at least the second tallest after a midtown Manhattan tower is completed next year.
Donald Trump had originally reserved this space for himself, but never lived here and put the property on the market full time in May 2012. Locally this has been a year of extraordinarily pricey condo listings, with three vying for attention at or above the $11 million mark. Now it’s also a year of excess among buyers.
If you’re still in the market for a place with powerful celebrity pull, the next best offering is probably Vince Vaughn’s triplex atop the historic Palmolive Building, on the market for $14.9 million.
10 months ago