Remaining Luxury Condos to be Auctioned Thursday

August 25, 2010

There are only 10 Chicago homes left unsold in a new, luxurious, River North high-rise building, and those units are set to be auctioned off on Thursday for almost half their original price.

The Penthouses at Grand Plaza, 545 North Dearborn, has entered its close-out phase and will sell five of the units regardless of price.

The 37-story building is 97% sold out. The available units, originally priced at $652,900 to $1,304,900, have published reserve prices of $345,000 to $775,000 for the auction.

For sale are 1,238-square-foot residences with two bedrooms and two baths and 2,500-square-foot units with three bedrooms and three bathrooms, all on floors 32 through 37.

Each home features extra large terraces or balconies that offer spectacular views of the city and the Chicago River.

The building has a ninth floor that offers a a state-of-the-art fitness center, a full-sized basketball court, a lounge with two flat screen TVs and a pool table, a fully stocked library with a fireplace and a media room with a plasma screen TV and a DVD player.

There’s an indoor resistance pool and a whirlpool, as well as saunas and steam rooms.

The outdoor pool and sundeck have a direct phone line to Portillo’s delivery.

There’s also an outdoor running track surrounded by gas grills and putting greens.

And, how cool is this: A Winter Garden Atrium Lounge with a sky-lit indoor garden is designed as a sun deprivation room so residents can still get sun during the winter months.

Also on site is the Grand Plaza market by Jewel Osco, a Bed Bath and Beyond, a cleaners and several banks and restaurants.

The auction is being organized by Chartwell Group, LLC.

Seems like resort living at a great deal.

What: Auction of 10 remaining residences at The Penthouses at Grand Plaza, 545 North Dearborn, Chicago

When: Thursday, August 26; 7:30 p.m. Registration begins at 6:30 p.m.

Where: The James Hotel, 55 E. Ontario Street, Chicago

More: Contact the sales office at (312) 644-9200 or visit

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