State senator buys pricey Lincoln Park penthouse condo

State Sen. Heather Steans and her husband, Leo Smith, bought a pricey penthouse condo in Lincoln Park, but the Andersonville lawmaker said they don’t plan to move in just yet.

The couple paid $4.4 million for the four-bedroom condo on the 25th floor of the Lucien Lagrange Studio-designed building, at 2550 North Lakeview Avenue, according to the Chicago Tribune.

Steans, a Democrat and 11-year veteran of the Legislature, told the Tribune the couple plans to move into the building after they retire. She said her sister lives in the building, as did her father until his recent death.

The 3,700-square-foot unit features a covered balcony and a 1,000-square-foot deck overlooking Lincoln Park and the lakefront. It was listed in January for $4.5 million through a land trust.

The sale continues a strong streak for home sales of $4 million plus, which hit a record in 2018.

But signs of struggles surfaced in the overall luxury market in the fourth quarter of last year, with the total number of homes selling for $1 million or more falling 10 percent year over year. The poor fourth quarter performance ended the luxury market’s year on a down note, after it saw a record-setting pace through the first three quarters. [Chicago Tribune] — John O’Brien