A $9.2 million sale at the St. Regis tower is the highest priced deal to close at the development and the third-highest sale this year in the Chicago area.
The 91st-floor unit includes the entire floor and has panoramic views of the city and Lake Michigan. The 5,700-square-foot condo has four bedrooms, five bathrooms and two balconies.
The sale follows a slew of recently closed deals at the tower, including one at $6 million and two at almost $9 million each. It’s also the third priciest sale in Chicao this year, only bested by the $20 million sale at the Trump International Hotel & Tower and a $17.4 million sale at No. 9 Walton.
Laura England, an agent with Compass, represented the buyers, who are not yet identified in public records.
“What I loved about it is that it’s lakeshore east, it’s this really cool pocket that is kind of hidden and tucked away, but close to everything,” England said.
The privacy and views attracted the buyers, who England said initially considered the building for several investment property units. She said the price tag didn’t include finishes and estimates the buyers will move in after another year of construction finishing the apartment.
The sale is the 55th in the Chicago area at or above $4 million this year. The pace of luxury home sales would put 2022 ahead of 2021, when a record-setting 101 homes sold in the same price range.
The buyers put the property under contract in January 2021. Leila Zammatta of Magellan Realty represented the developer.
Formerly the Wanda Vista Tower, the St. Regis Chicago is a 101-story tower completed in 2020. Located at 363 E Wacker Dr, it is the city’s third tallest building. The building’s chief architect is Jeanne Gang, head of Studio Gang Architects.
The St. Regis has some competition within the luxury new development market. Tribune Tower and One Chicago are both closing deals on units as all three projects are near completion and delivery of units to buyers.
England said the St. Regis and Tribune Tower offer buyers two dramatically different options at the top of the market, with the St. Regis offering something sleek and modern, while the Tribune building is steeped in history and in the heart of the city.
Several other major sales should be coming to the tower soon. The tower’s agent has 11 units listed as “pending” on public listing sites, including three units over $10 million — one of which, listed at $18.5 million — would be among the priciest sales in Chicago this year, should it close at that price.
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