Trusts tied to the family of deceased billionaire Dean White traded a River North penthouse in a building White’s company co-developed.
The Dean V. White Revocable Trust sold the penthouse unit at 410 North Dearborn Street to the Dean V. White Legacy Trust for $5.4 million, Cook County property records show. The deal closed in March, but wasn’t recorded with the county until late June.
White Lodging, which was White’s hotel company, co-developed with Friedman Properties the 27-floor building at 410 North Dearborn Street in 2008. The building holds two hotels, the Springhill Suites and Residence Inn, and includes more than 14,000 square feet of ground floor retail.
There is no online information about a penthouse unit being included in the building. In a zoning amendment filed with the city in 2006, the developers asked for approval to replace the 27th floor’s pool and fitness center with five additional hotel suites, bringing the total units in the development to 528. But the development is only listed as having 523 available rooms, according to Friedman’s website. The penthouse floor in the building also has an outdoor terrace.
Representatives for Friedman and White Lodging did not return requests for comment.
White died in 2016 with a net worth of $2.5 billion, according to Forbes. He made his fortune in the billboard advertising business, which he sold in 1998 for $960 million. He also formed White Lodging and began investing in hotel development and other real estate ventures. White sold 100 hotels to BET founder Robert Johnson for $1.7 billion.
White was also known for boosting his hometown of Crown Point in Northwest Indiana, as well as being a prolific political donor. He owned a 20,000-plus-square-foot mansion outside of Crown Point, according to the Indianapolis Star. It is not known if he owned other Chicago-area residences.