Chicago Developer Arthur Slaven Seeks $12M for River North Condo

Arthur Slaven, the developer who converted the former Montgomery Ward office tower in River North to condos in the early 2000s, is looking to sell the unit he reserved for himself during the conversion.

Slaven and his wife, Jane, are asking $12 million for their 10,000-square-foot condo, which is slated to hit the market on March 20, Crain’s reported. Carrie McCormick of @properties is the listing agent.

If sold for the asking price, it would set a record for priciest condo sale in River North. It would also be the most-expensive condo transaction in Chicago since January 2023, when Ken Griffin’s 8,000-square-foot Park Tower unit traded for $11.2 million.

Slaven, his wife and renowned interior designer Darcy Bonner, meticulously crafted every detail of the three-bedroom residence. The condo is adorned with a 30-foot wall of glass offering panoramic views, as well as wenge wood and Venetian plaster finishes. It features a glass catwalk, a staircase resembling a twisting ribbon, and a rooftop deck once used for helicopter landings.

While Slaven admits reluctance to part with the space, the decision aligns with their transition to a primary residence in Florida, he told the outlet.

The condo’s history intertwines with the redevelopment of the former Montgomery Ward tower, an architectural gem designed by Minoru Yamasaki in 1970. Under Slaven’s stewardship, the tower underwent a transformation from a commercial hub to a residential haven.

The conversion, which included replacing Yamasaki’s imposing black glass with clear panels, breathed new life into the iconic structure, reshaping River North’s skyline.

—Quinn Donoghue