Join industry visionaries Pete Flint, Spencer Rascoff, Ryan Serhant and more at Inman Connect New York, Jan. 24-26. Punch your ticket to the future by joining the smartest people in real estate at this must-attend event. Register here.
The buyer of a condo at the Residences at the St. Regis Chicago has inked the Windy City’s priciest deal of 2022 for $20.56 million, according to The Wall Street Journal.
The property’s original asking price was not publicly made available, nor was the identity of the buyer, who asked to combine a few different units and outdoor spaces in the building, Sean Linnane, executive vice president at Magellan Development Group, which developed the property, told The Journal.
The St. Regis’ outdoor pool and spa area | Zillow
The current record for Chicago’s priciest sale is $58.75 million, set in 2017 when Citadel CEO Ken Griffin purchased multiple floors of one of the city’s condos.
Located on the condo building’s 71st and 72nd floors, the duplex unit occupies about 11,000 square feet of space and includes a home theater and a gym. It also features about 8,400 square feet of outdoor space with a pool, hot tub and dining area. Magellan’s in-house sales team represented the developer in the deal.
The St. Regis is anticipated to open during the first quarter of 2023, Linnane told The Journal. The 393-condo unit and 192-hotel room property, which is in the Lakeshore East area, first started selling units in the building in 2016. So far, more than 60 percent have been sold.
The wine vault | Zillow
In addition to the duplex’s private amenities, building residents have access to a fitness center, golf lounge, sky lounge with panoramic views of the city and Lake Michigan, a demonstration kitchen, wine vault, access to on-demand Teslas and more.
The St. Regis was designed by American architect Jeanne Gang, who first received wide recognition for creating the Aqua Tower in Chicago in 2010, which at the time, was the tallest female-designed building in the world. Gang’s firm, Studio Gang, is also currently working on a new terminal at Chicago O’Hare International Airport, slated for completion in 2028, according to the firm’s website.
Get Inman’s Luxury Lens Newsletter delivered right to your inbox. A weekly roundup of all the biggest news in the world of high-end real estate delivered every Friday. Click here to subscribe.