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Residential
Chicago

Palmolive unit to hit the market for $8.75M

The condo last sold for $8 million in 2016.

A photo illustration of 159 East Walton Place (Getty, Google Maps)
A photo illustration of 159 East Walton Place (Getty, Google Maps)

Another high-priced condo at the Palmolive Building is ready to test the market.

With an $8.75 million asking price, the 5,500-square-foot condo includes three bedrooms and three bathrooms. It’s marked as both an exclusive listing and coming soon on @properties Christie’s International Real Estate’s website. It last sold for $8 million in 2016.

Carolyn Landis, with @properties Christie’s International Real Estate, is representing the seller and did not respond to a request for comment. She shares a last name with the owner of the condo, Gregory Landis, but it’s unclear what, if any, relation there is.

The 28th-floor building was designed by Paula Berg and has panoramic views of Lake Michigan, Magnificent Mile and Navy Pier. Amenities include a private elevator, 600-bottle wine cellar, three valet parking spots and ultra-luxury finishes within the home, including Venetian plaster accents and Romanoff wall coverings made of rolled wood, a foyer with individually hand-applied silverleaf ceiling.

The listing isn’t the only one set to be marketed at the Palmolive building.

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Another condo, belonging to David Herro, the deputy chairman at Chicago-based money manager Harris Associates, is also off market but listed as coming soon. Herro paid $6.7 million for the condo in 2014. The 5,500-square-foot condo on the 31st floor has three bedrooms. Herro originally listed the condo in 2020 for $10.9 million. That price likely factored in the renovations to the condo, which appeared in a 2017 issue of Elle Decor, according to the Chicago Tribune.

Herro has cut the property’s price twice since listing, first to $9.9 million in November of 2022. The property was cut to $8.9 million in June of this year before being removed from the market in September. It appears poised to reenter the market shortly at that price, according to an off-market listing on @properties website.

The 37-story building is a national historic landmark that once served as the home of the Playboy offices. Built in 1929, it was originally home to the Colgate-Palmolive-Peet corporation.

The building was redeveloped in 2002, with the first four floors reserved for high-end office and retail and the rest of the building sold as condominiums, with a residential address of 159 East Walton Place.

The retail portion of the building had a shake up this year, with owner Nuveen Real Estate listing it for sale. The 51,800-square-foot space is 70 percent occupied and includes the Vuitton store, Breitling and high-end jewelry store David Yurman. It’s unclear if the company still plans to sell the retail space, and Nuveen declined to comment.

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Gold CoastHousing MarketLuxury Real EstatePalmolive Building