Ticket reseller founder assembling giant $15M Water Tower condo

Eric Vassilatos is combining 6 units in Magnificent Mile building into 14K sf home

Chicago /
Feb.February 11, 2019 09:05 AM

Water Tower Place at 835 North Michigan Avenue and Eric Vassilatos (Credit: Google Maps and PanHellenic Scholarship Foundation)

The co-founder of ticket reseller Vivid Seats wants to assemble six Water Tower condos into one at a cost of at least $15 million.

Eric Vassilatos applied for a construction permit to combine the units in the Magnificent Mile skyscraper at 835 North Michigan Avenue, estimating the cost of the work at $8.5 million, according to Crain’s. He bought the six units between 2010 and 2016 for $7.6 million.

The units are on three different floors, and combined they would total more than 14,000 square feet, according to Crain’s.

Oprah Winfrey once combined four condos in the building into a 9,600-square-foot space, but later sold them to a renovator who broke them up and marketed them individually. The last of the four units just hit the market at $3.5 million.

Vassilatos’ condo would become one of the priciest homes in the Chicago area upon completion. It would top just about all of the units in the well-known No. 9 Walton luxury tower a couple blocks away, save for billionaire Ken Griffin’s record-breaking $59 million penthouse. [Crain’s] — John O’Brien


Related Articles

arrow_forward_ios
Gov. J.B. Pritzker, Related Midwest President Curt Bailey and Related's condo project (Getty, Related)
Illinois poised for new affordable housing incentive
Illinois poised for new affordable housing incentive
Draper & Kramer CEO Todd Bancroft with Royal George Theatre (Google Maps, Draper & Kramer)
Apartment complex could rise at shuttered Lincoln Park playhouse
Apartment complex could rise at shuttered Lincoln Park playhouse
(Bronzeville Lakefront)
Chicago approves $4B Bronzeville Lakefront redevelopment
Chicago approves $4B Bronzeville Lakefront redevelopment
Shapack plans 316-unit tower in Fulton Market
Shapack plans 316-unit tower in Fulton Market
Shapack plans 316-unit tower in Fulton Market
@properties expands into Dallas with new franchise
@properties expands into Dallas with new franchise
@properties expands into Dallas with new franchise
One Eleven East Chestnut and the entrance to the garage (111 E Chestnut, Google Maps)
City sues condo tower garage over long-delayed repairs
City sues condo tower garage over long-delayed repairs
Governor J.B. Pritzker (Getty)
Illinois to phase out state eviction moratorium during August
Illinois to phase out state eviction moratorium during August
5001 S Greenwood Ave (Realtor, iStock)
Archdiocese sells Kenwood mansion for almost $1M under original asking
Archdiocese sells Kenwood mansion for almost $1M under original asking
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...