Highest Priced Chicago Condo Makes Real Estate History

December 21, 2012

chicago condos real estateLast month, a penthouse condo at the Park Tower sold for $15 million, which is the highest-ever recorded selling price of a new Chicago condo.

The Park Tower condo was previously owned by Richard Cooper, who is the head of an Oak-Brook based hedge fund. The condo features 7,900 square feet of interior space, 660 square feet of private outdoor space, and is also equipped with 16-foot ceilings and all-around city views.

Located at 800 North Michigan Ave., the Park Tower condos are notorious for having the highest price per square foot in the entire city. An average condo in the high-end building costs a minimum of $760 per square foot.

The Park Tower building is also rich in history, and is the 35th tallest building in the United States and the 11th tallest building in Chicago. Even though the Park Tower is 67-stories high, it only contains 117 condos. The rest of the building is reserved for retail, commercial, hotel and parking space.

There are several condos currently for sale at the Park Tower, and prospective buyers can choose from floor plans featuring one to six bedrooms. However, a one-bedroom condo will cost you $1,150,000!

It will be interesting to see if 2013 breaks any real estate records, though a $15 million selling price will be difficult to beat!

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