A penthouse that once belonged to Chicago-area native Vince Vaughn is taking a price cut in its most recent relisting, the latest in a series of hefty chops for high-end units in the Magnificent Mile tower.
The property, in the historic Palmolive building in Streeterville, is now seeking $10.5 million, down from its previous list price of nearly $12 million. It last sold for $8 million in 2016. The building was also the previous home of Playboy’s offices.
The condo is owned by an LLC named Tramp Rogers, whose manager is wealth manager Margaret Rowley, according to a 2021 Chicago Tribune report.
The condo, which is on the 36th and 37th floors, has three bedrooms and five bathrooms. It includes a temperature-controlled wine room, its own private elevator, a private terrace, and 360 degree views of Lake Michigan and the Chicago skyline.
The 7,800-square-foot penthouse has been renovated since the 2016 sale, but still includes original details, like the wood-paneled primary bedroom that is located in the late Playboy founder Hugh Hefner’s original office.
Brian Loomis, a broker with Coldwell Banker, is representing the listing and did not respond to a request for comment.
The property is one of several high-end condos for sale in the building.
The listing of a unit owned by an LLC controlled by solar energy investor Michael Ahearn is asking $5.9 million, down 7.2 percent from its last sale of $6.3 million 12 years ago. Ahearn was the co-founder and chairman of First Solar, and is the founder and managing partner of investment firm True North Venture Partners, which has Chicago and Arizona offices.
Another condo, belonging to David Herro, the deputy chairman at Chicago-based money manager Harris Associates, is also off-market but listed as coming soon. Herro paid $6.7 million for the condo in 2014. The 5,500-square-foot condo on the 31st floor has three bedrooms. Herro originally listed the condo in 2020 for $10.9 million. That price likely factored in the renovations to the condo, which appeared in a 2017 issue of Elle Decor, according to the Tribune.
Herro has cut the property’s price twice since listing, first to $9.9 million and then it was was cut again to $8.9 million in June before being removed from the market in September. It appears poised to reenter the market shortly at that price, according to an off-market listing on @properties website.
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The 37-story Palmolive building is a national historic landmark. Built in 1929, it was originally home to the Colgate-Palmolive-Peet corporation.
The building was redeveloped in 2002, with the first four floors reserved for high-end office and retail and the rest of the building sold as condominiums, with a residential address of 159 East Walton Place.