This new listing for the 89th floor penthouse unit in the Trump Tower at 401 N Wabash appears to be the highest priced home in Chicago ever. Probably. I can't be totally sure. But it is supposedly at the highest altitude in the city - or the Western Hemisphere for that matter.
Unit PH89 A just went on the market yesterday with a list price of $32,000,000. At 14,260 sq ft (the entire floor) that works out to about $2,244 per square foot. As a point of comparison, unit 84 D at 3102 square feet sold for $2.7 MM with 1 parking space at the end of last year. Allowing $50,000 for the parking spot that works out to $854 per square foot. I'm just saying...
This penthouse unit appears to be raw space at this point but can be built out to your specifications as indicated in the MLS description below:
Chicago's most valuable property at Trump Tower. The highest residence in the western hemisphere is this 89th floor Penthouse home which encompasses the entire 14,260sqft floor. 360 degree views of the city & lake from floor to ceiling 16' high windows. The new owner will have opportunity to build out the unit to their specifications with endless possibilities Trump's world class, 5* amenities included.
They appear to already have some idea of the room layout since the listing specifies 5 bedrooms, 7 full baths, 2 half baths, and 5 fireplaces. The monthly assessment is $12,150 and the property taxes are undetermined but I would estimate that with a $32 MM value they should be around $500,000 per year. There is no parking?!?!?! Maybe they figure anyone who buys this can't be bothered with driving and parking their own car.
I'm not quite sure how this deal works. Is there an allowance of what you can put in the place for $32 MM? Probably. And I assume that if you cut a few corners - polyester carpet, Home Depot blinds - you can knock a few mill off the price.
Given that it is raw space at this point there is not much to see in the slideshow below except for the views. In general the Trump Tower has spectacular views but once you get above a certain floor my experience is that the views actually become less interesting. It's more like flying in an airplane. Personally, I think the views from just above the rooftops of other city buildings is the most interesting - during the day. The night time views are a different story - incredible at this altitude.
Chezi Rafaeli with Coldwell Banker has the listing but at this price Ivanka Trump better be showing this property. The co-op commission is 2.5%, which at $32 MM works out to $800,000. I tell you what. I'll rebate 80% of the commission on this one.
Filed under: Way Cool