Aug
22

Trump Tower Unit Sets Resale Record at $3.99M

August 22, 2014
Chicago River tour

A 4,000-square-foot condo in the Trump International Hotel & Tower has sold for $3.99 million, the highest sale price in the building since 2009.

A 4,000-square-foot, 48th-floor condo unit in the Trump International Hotel & Tower sold Thursday for $3.99 million, the building’s highest sale price since 2009.

In 2009, an 87th-floor unit sold for $5.15 million and an 88th-floor unit changed hands for $5.17 million, which remains the building’s record. Both were purchased from the building’s developer.

The sale Thursday represents the highest-priced resale in the building’s history, and it’s also its highest-priced sale since the housing market’s rebound.

Sellers Kim Jones, who also is a listing agent with Baird & Warner, and her husband, Gerald Riccioni, paid $2.88 million for the unit in March 2012. They then upgraded the unit. The unit has 4 1/2 baths, north and east views, three custom-designed fireplaces, a sound system and a master suite with his-and-hers walk-in closets.

Jones and Riccioni first listed the unit in December for slightly less than $4.2 million and never cut their asking price. The buyer is an Illinois limited liability corporation managed by a Singapore resident, John Williamson, according to Jones and documents related to the sale.

“The reason we sold is, we bought the unit above ours, which is a penthouse atop Tower 2,” Jones told Elite Street. “During (the redesign) of the unit sold today, I saw the unit above ours, and I bought it. We had a tenant in that second unit for two years, and now they’re out.”

Jones acknowledged that she enjoys upgrading properties — “I like having projects” — but said she doubts she’ll sell her 49th-floor unit any time soon.

Andrew Mason sells West Town triplex: Andrew Mason, co-founder of Chicago-based Groupon and the company’s CEO until his termination last year, has sold his triplex loft in the West Town neighborhood for $1.15 million.

The loft, in a building constructed in 1920, has 3 1/2 baths, all three bedrooms on one level, and a kitchen with white-lacquer cabinetry, stainless steel appliances and granite countertops. Two decks offer skyline views. There also is a rooftop resistance pool.

In early December, Mason sold his five-bedroom Evanston mansion on nearly an acre along Lake Michigan for $4.07 million.

Mason sold the three-bedroom, 3,300-square-foot triplex loft last month. He listed it in May for $1.2 million. He paid $910,000 for the unit in 2010.

Beth Wexler and Joey Gault of @properties were the listing agents.

This post originally appeared on ChicagoTribune.com on Aug. 21, 2104.

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