Another real estate blockbuster has made its way to the headlines this week. A Co-op at Lake Shore Drive in Chicago sold for $7.2 million late last month, making it the most expensive home sale in the Windy City this year.
According to Curbed, this is the highest price any home has sold for in the city since December last year when a home sold for $9.04 million in Lincoln Park.
Public records show that the home was listed for sale with a $9.2 million price tag in 2007, just before the real estate market crashed. It was later de-listed. The home returned on the market for $7.9 million in January, this year, and was put into escrow June 16.
The co-op was listed with James Kinney of Baird & Warner. The buyer was represented by Katherine Malkin of the same property brokerage. Agent Kinney confirmed to Crain's Chicago Business that the sellers were Raymond and Dana Kedzior, who purchased the co-op in the 18-storey building in 1997.
"It's beautifully done, designer-decorated, and it went fairly quick," Kinney told the publication. Perching on the 11th floor of the building, the home has panoramic views of the city and the bay.
Sure, it's custom-designed by the famous Gregga and Herman team but the décor seems well-outdated. Listing photos show crown moldings, carpets and hardwood flooring and drywall ceilings along with large glass windows.
The living and sitting areas have been done up in pure 40s' style and don't seem that attractive. However, the kitchen looks pretty modern and includes the mid-rise island and modern appliances a chef's kitchen would have.
Some comments on the Curbed feature noted that with a little renovation, the residence could be revamped to look like the ultimate paradise.
The residence spans an area of 5,700 square feet and has three bedrooms and four bathrooms. The bathrooms are not bad either with a Jacuzzi tub, separate showers and marble flooring. The master bedroom has walk-in closets fit for a regal family.
The home also has a library with a fireplace, an exercise room and a laundry. The Co-op provides for a two-car parking garage and allows for transferable lease as well.
Check out the photos of the home here.
There are several high-priced listings currently on the Chicago market. The most expensive single-family home officially hit the MLS last week for $18.7 million. Currently, the most expensive listing of Chicago is a penthouse at the Trump International Towers that's asking $32 million.
Oprah Winfrey, who apparently lived in the Lake Shore drive Building once, also has her Water Tower Place condo on the market for $7.7 million.
