A Chicago real estate power couple is looking to sell their Gold Coast penthouse.
Judd Malkin, who helped build the JMB Realty empire alongside billionaire Neil Bluhm, and Malkin’s wife Katherine, a longtime agent in Chicago’s luxury housing market, have listed their 4,800-square-foot unit in the cooperative building at 1301 North Astor Street, Crain’s reported.
Compass agent Jeff Lowe is representing the Malkins, who are asking for $5.5 million.
Most of the penthouse comprises the entire 14th and 15th floors, boasting five terraces. There’s also a home gym on the upper floor and a one-bedroom offering on the first floor, making it a non-contiguous residence that’s connected by a fancy curved staircase.
The largest terrace, around 540 square feet, features stunning views of Goudy Square Park and the downtown skyline. It’s unclear from public records when the couple bought the penthouse or how much they paid for it.
Constructed in 1929, the building holds a rich history as one of the initial art deco towers crafted by architect Philip Maher. Other notable residents to have lived in the building include Gene Siskel, a well-known former movie critic for the Chicago Tribune until his death in 1999.
Judd Malkin’s legacy is deeply intertwined with Chicago’s real estate landscape. In partnership with childhood friends Bluhm and Robert Judelson, he established JMB Realty, which became a formidable investment firm by the late 1980s, controlling $20 billion worth of real estate assets.
(Judelson left several years after the firm was established to go form the one-time massive apartment investments firm Balcor with Chicago business legend, and Bulls and White Sox owner, Jerry Reinsdorf.)
Under Malkin’s leadership, JMB projects such as the 66-story tower at 900 North Michigan Avenue took shape.
Moreover, Malkin also acquired ownership stakes in the Chicago Bulls and White Sox.
— Quinn Donoghue
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