Former Bear’s Michigan Avenue penthouse back on the market, asking $4.45M

Buyers continue to pass on former Bears wide receiver Brandon Marshall’s Michigan Avenue penthouse.

The four-story condo in the former Montgomery Ward building has returned to the market with yet another cut to its asking price, now at $4.45 million, according to Curbed.

Marshall, who played for the Bears from 2012 to 2014, bought the penthouse suite at 6 North Michigan Avenue for $3.9 million. After being traded to the New York Jets in 2015, Marshall listed the home for $6 million, but saw no takers.

The price has been reduced multiple times since, and was even listed as a rental asking $20,000 per month.

The listing for the four-bedroom, four-bathroom home boasts of it’s 20-foot-ceilings and 6,400-square feet spread out over four floors, not to mention more 2,000 square feet of outdoor space including a rooftop deck with views of Millennium Park and Lake Michigan.

The historic Montgomery Ward building was constructed in 1898.

The Chicago area has seen a surge in luxury home sales this year. An unfinished penthouse at the Ritz-Carlton Residences on Michigan Avenue sold for $8 million in June, the seventh Chicago-area deal this year to reach that number.

JDL Development’s 9 West Walton condo building has dominated the list of most expensive home sales recently, led by billionaire Ken Griffin’s record-shattering $59 million purchase of a four-story penthouse atop the building last year.

A yet-to-be built, two-story condo in Magellan Development’s unfinished Vista Tower could join Griffin’s home among the most expensive ever. The condo is under contract after being listed for $18.5 million.

Overall, Chicago lags far behind its big-city counterparts in terms of $1 million-plus home sales, standing 18th nationwide of the top 50 largest cities, according to a recent report. [Curbed] — Joe Ward