Bruce White’s Gold Coast penthouse sale is priciest in downtown in 2 years

Deal for 8.8K-sf condo comes as Downtown housing market continues to pick up

Chicago /
Jul.July 06, 2021 02:21 PM
840 N. Lake Shore Drive and Bruce White (White Lodging, Jameson Sotheby's)

840 N. Lake Shore Drive and Bruce White (White Lodging, Jameson Sotheby’s)

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





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