List Price: N/A
Sale Price: $6,884,500
The Property: James J. McNulty, the former CEO of the Chicago Mercantile Exchange, has bought the entire 37th floor of the Elysian, the new 60-story hotel-and-condos tower, designed by Lucien Lagrange, at 11 East Walton Street. This is the highest price yet recorded at the Elysian. In Chicago’s April issue, I reported that a $4,433,500-sale was the priciest yet in the building; McNulty’s purchase showed up at the Cook County Recorder of Deeds after that issue went to press.
McNulty bought a 7,400-square-foot space that combines the two separate condos originally planned for the 37th floor. Described by Crain’s Chicago Business as a “guitar-strumming futures guru,” McNulty ran the Chicago Mercantile Exchange (CME) from 2000 until 2003; during his tenure, he oversaw the Merc’s initial public offering. According to Crain’s, McNulty left the CME with $60 million in stock options. He then worked at another Chicago company that eventually became part of the New York Stock Exchange. Mutations in that company resulted in McNulty becoming chairman of NYSE Liffe U.S., a futures exchange based here. McNulty declined to comment on his purchase at the Elysian.
Price Points: Caryl Dillon, who for five years handled sales for the Elysian and is now a Baird & Warner agent, acknowledged that this was the highest-priced sale yet recorded in the building. She added, however, that a condo on the 52nd floor was sold last week for close to $7.5 million. She would not reveal details, and the sale has yet to show up at the Cook County Recorder of Deeds. Dillon is now the agent for three units in the building—two resales and one still held by the developer—with prices starting at $3.02 million. (I will update this post with details about those three units as information becomes available.) Dillon’s developer unit is one of six unsold units from the original 52 condos at the Elysian.
Listing Agent: Caryl Dillon, 312-266-3704; firstname.lastname@example.org.