Another fast turnaround could be in the works for a Lincoln Park seller of high-end housing.
A condo in the tower at 2550 North Lakeview Avenue is seeking nearly $6 million, which would mark a profitable flip for the unit from a spring deal and a show of strength for luxury properties heading into fall.
The 35th-floor unit at the building at 2550 North Lakeview Avenue has four bedrooms and five bathrooms. Sharon and Bill Kozek, the CEO of transportation and logistics company CSM, sold the unit in February for $5.8 million to a Delaware limited liability company.
At 4,700-square-feet, the property only has one other condo on the same floor. The listing is somewhat rare in Lincoln Park, where most high-end residential sales lately have been of single-family homes.
In fact, another high-profile seller of a Lincoln Park mansion long occupied by Anne Dias, whose ex-husband is billionaire Ken Griffin, listed a Mohawk Street property for $9.5 million this week. That intriguing listing would mark another flip for the seller, another LLC whose owner is unclear, from a July sale of the same home for $10 million, according to property records. The reason for the pricing markdown from the summer sale on the new listing is unknown.
Back on Lakeview Avenue, the Kozeks previously purchased the condo in 2014 for a little under $5.35 million. Tim Salm with Jameson Sotheby’s International Realty is representing the seller and did not respond to a request for comment.
About a dozen units in the tower are for sale on public listing sites, including one of the penthouses, where a sale fell through earlier this year.
The owner of that penthouse, James Gearen, who’s head of investment firm Gearen Holdings in Minneapolis and Chicago and formerly executive of Chicago commercial real estate firm Zeller Realty, is seeking $6.73 million. The three-bedroom, 4,250-square-foot unit hit the market on Feb. 4 and went under contract two days later, but never closed, according to Zillow.
The unit, one of two penthouses in the building, was originally offered as a single 12,500-square-foot condo at about $13 million. When the space was still unsold after several years, the developer, Ricker-Murphy Development, split it into two units and Gearan bought it in 2012, three years after the building was complete.
If Gearan’s deal had closed, it would have marked 2022’s second-priciest residential sale in the city at the time. Those figures have long been eclipsed by two condo sales at or over $20 million — one at Trump Tower Chicago and one at the St. Regis.
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