Resident Trades One Piece of Amazing Chicago Real Estate for Another

October 31, 2010

It was a busy week for Chicago resident Michael Polsky, who put his Near North Side condo on the market and then closed on a Gold Coast mansion the next day.

Grand on Grand

Grand on Grand.

Polsky is the founder of Chicago-based Invenergy LLC, a green energy company that develops, owns and operates renewable and other alternative energy facilities throughout the world.

He must be doing well, considering he placed his 4,150-square-foot condominium for sale at a price of $2.6 million before closing on Jamie Dimon’s home for $6.8 million.

The condo for sale is the penthouse located on the entire 27th floor of 200 W. Grand St., a tower built in 2004, the year Polsky reportedly purchased his unit for $1.48 million in the building known as “Grand on Grand.”

You enter the home through a keyed elevator into a private foyer. Floor-to-ceiling windows provide 360-degree views of the city, as do the unit’s six terraces.

The condo boasts:

Polsky's view from one of the six terraces.

The view from one of Polsky's six terraces.

*Three bedrooms, all with private terraces. The master suite has eight closets.

*Three-and-a-half bathrooms, including an over-sized marble master bath.

*High ceilings and 10-foot doors.

*A paneled library built-out with floor-to-ceiling shelves.

*A sun room with its own terrace.

*Two tandem parking spaces in the building’s garage.

Not too shabby. Now let’s look at Polsky’s new residence.

Polsky's new terrace at 25 E. Banks.

Jamie Dimon, chairman and CEO of JPMorgan Chase & Co., first listed his 13,500-square-foot mansion at 25 E. Banks Street in Chicago for $13.5 million in 2007. He dropped that asking price to $10.5 million, then $9.5 million before settling on $6.8 million.

That’s quite a deal Polsky got there.

Built in 1880, the three-story home has seven bedrooms plus a master suite that occupies the entire second floor, nine baths, two half baths, two kitchens, a library, a great room/media room, two fireplaces and a rooftop terrace.

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