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Related’s One Bennett Park scores year’s priciest condo sale
The Streeterville tower sold a 4.8K-sf unit for $6.25M amid falling luxury market
Even amid a global pandemic and a slide in the local luxury market, Related Midwest’s One Bennett Park condo tower scored the highest residential sale of the year in Chicago.
An undisclosed buyer paid $6.25 million for the 4,800-square-foot unit on the 63rd floor, according to Crain’s. The unit has three bedrooms and three and a half bathrooms. There is no terrace but the unit has lake views from three directions, a Related Midwest spokeswoman told the outlet.
Suzanne Gignilliat of @properties represented the buyer. Cook County records show the unit was purchased on March 12.
Chicago luxury residential sales have been falling over the last year, and were down last week. The top five sales last week sold for a combined $1 million below the previous’s week total, as the local market slowed amid the intensifying coronavirus restrictions.
Related Midwest first put units on the market at 451 East Grand Avenue tower in Streeterville in late 2018. Last year, another 4,800-square-foot condo sold for $6.2 million, making TRD’s list of priciest residential sales of the year.
Related sold 13 units, each over $4 million last year, but not all of the building’s 69 condos are listed at over $4 million. The lowest sale had a $1.9 million price tag. [Crain’s] — Jacqueline Flynn