Former United CEO sold Trump Tower condo after more than $1M price cut

Condo sold for $3.1M; was first listed in 2017 for almost $4.7M

Chicago /
Sep.September 02, 2021 01:27 PM
Jeff Smisek with the Trump International Chicago Tower & Hotel (Getty, iStock)

Jeff Smisek with the Trump International Chicago Tower & Hotel (Getty, iStock)

Jeff Smisek, former United Airlines CEO, sold his condo at the Trump International Hotel & Tower after cutting more than $1 million from his original listing four years ago.

Smisek, currently head of Goose Capital, a Houston investment firm, sold his 34th floor condo for $3.1 million on August 31, according to Crain’s. He initially listed the condo in 2017 at nearly $4.7 million, listed it again in 2018 and it back on the market at $3.65 million in June of this year.

Smisek bought the three-bedroom, 3,500-square-foot condo for a little under $2.38 million in 2013 when he was running United Airlines. The condo’s kitchen features trimmed marble, walnut and stainless steel, and its rooms are adorned with wood built-ins and paneling, per Crain’s. Residents enjoy restaurants, a spa, a fitness center and a bar that commands a view of Lake Michigan. Proximity to Michigan Avenue’s shopping and entertainment and the riverwalk are another perk residents can take advantage of.

Jameson Sotheby’s International Realty agent Kelly Angelopoulos did not immediately respond to requests for comment. Ivan Madera, a Jameson agent who represented the buyers, declined to comment, according to Crain’s, which noted that the buyers have not yet been identified in public records.

Smisek became CEO of United in 2010 after he led negotiations to merge Continental Airlines, where he was chief executive officer, with United. In 2015, Smisek, along with two other United executives, stepped down amid a federal investigation into a favor-trading scheme between the airline and the Port Authority of New York and New Jersey that eventually saw former Port Authority chairman David Samson plead guilty to a felony conspiracy charge.

Prices of condos at the Trump tower fell about 30% since it opened in 2009. As of the end of July, there were 52 active listings at the tower, about 11 percent of its 486 units, according to the multiple listing service.

[Crain’s] — Connie Kim






    Related Articles

    arrow_forward_ios
    Magellan Development CEO buys condo unit at firm’s 101-story tower
    Magellan Development CEO buys condo unit at firm’s 101-story tower
    Magellan Development CEO buys condo unit at firm’s 101-story tower
    Winnetka mansion hits market with asking price just under $10M
    Winnetka mansion hits market with asking price just under $10M
    Winnetka mansion hits market with asking price just under $10M
    Bridge Investment Group Executive Chairman Robert Morse and Candlelight Village (Bridge, Candlelight Village)
    Bridge Investment purchases manufactured homes community for $30M
    Bridge Investment purchases manufactured homes community for $30M
    Sterling Bay CEO Andy Gloor and a rendering of the project (Sterling Bay)
    Sterling Bay’s first residential project planned in West Loop
    Sterling Bay’s first residential project planned in West Loop
    Chicago City Council OKs 50 single-family home development in Norwood Park
    50 single-family home development in Norwood Park gets city nod
    50 single-family home development in Norwood Park gets city nod
    Trump Tower Chicago with Vistex CEO Sanjay Shah (iStock, Vistex)
    Trump Tower Chicago 89th-floor penthouse lists for $30M
    Trump Tower Chicago 89th-floor penthouse lists for $30M
    An early rendering of 523-45 South Wabash Street (BKV Group)
    $350M mixed-use development in Loop approved
    $350M mixed-use development in Loop approved
    Chicago’s hot downtown rental market; working professionals largely contribute to the drive
    Chicago’s downtown rental market heats up as employees return to offices
    Chicago’s downtown rental market heats up as employees return to offices
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...