Related closes $4M sale of 50th-floor condo at One Bennett Park

An anonymous trust bought the 3-bedroom condo at the newly-completed tower

Apr.April 11, 2019 09:00 AM
Unit 5006 at One Bennett Park 

Unit 5006 at One Bennett Park

Related Midwest is plowing forward with condo sales in its newly-completed One Bennett Park tower, most recently by closing the sale of a three-bedroom unit on the building’s 50th floor for $4.1 million.

An anonymous trust bought Unit 5006 in the 67-story tower late last month, according to Cook County property records. The buyer took out a $3 million mortgage from JPMorgan.

It was the sixth condo sale to close in the tower since sales got underway earlier this year, according to a Related Midwest spokesperson. More than 40 percent of the units are under contract.

The unit listing describes a 3,600-square-foot home with natural stone slab countertops, a wine storage space and a master bathroom with a free-standing soaking tub and heated marble floors.

Erin Ward and Gwen Farinella of Related Midwest Sales brokered the sale.

Two more three-bedroom condo sales are expected to close this week, the spokesperson said. Both are priced above $4 million.

One Bennett Park is a hybrid of rental and for-sale units, with 69 condos and 279 luxury apartments. The rental portion of the building opened late last year.

In addition to the lap swimming pool and “tween room” available to all residents in the building, condo owners have unique access to their own “cordial lounge” on the 41st floor with wood-paneled lockers for storing spirits.

Related notched its first condo sale for the Robert A.M. Stern-designed tower in February, turning over a 43rd-floor unit for $2.4 million.

In an interview with The Real Deal last year, Related Midwest president Curt Bailey was optimistic about the luxury condo market in Chicago, saying there are “very few, if any, newly-built condos that aren’t sold right now in Chicago.”

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