More than two years after White Lodging’s Bruce White and his wife Beth listed their 8,800-square-foot penthouse on Lake Shore Drive, the property sold for $11.25 million.
The deal for the 26th floor unit at 840 N. Lake Shore Drive was the priciest for a downtown home since 2019, according to Crain’s, which first reported the sale. It was also the second most expensive residential sale this year, behind the $12.5 million deal for a Lincoln Park mansion.
The six-bedroom, full-floor condo in the Lucien Lagrange-designed tower hit the market in April 2019 for $13.5 million. It includes an 1,135-square-foot outdoor patio with sweeping views of Lake Michigan and Navy Pier, along with a wine cellar, game and media rooms, and several living and dining areas.
Home sales activity has been picking up, and the latest megadeal stokes hope of a resurgence among luxury buyers Downtown. Home prices in the city have jumped nearly 10% since last summer, according to the report, but downtown condo sales have remained somewhat tepid, a contrast to the suburbs, where sales have been hot.
White is CEO of White Lodging, an Indiana-based hospitality group that operates Aloft Chicago and the Courtyard Marriott Chicago Downtown hotels.
[Crain’s] — Jennifer Waters