Archer-Daniels-Midland CEO Juan Luciano doubles down in Chicago’s One Bennett Park

Luciano buys Streeterville condo for $1.9M, a year after buying unit upstairs for $6M

Archer-Daniels-Midland chairman and CEO Juan Luciano, and One Bennett Park at 451 East Grand Avenue, Chicago
Archer-Daniels-Midland chairman and CEO Juan Luciano, and One Bennett Park at 451 East Grand Avenue, Chicago (Wikipedia/TonyTheTiger, ADM)

It wasn’t enough for Juan Luciano to drop nearly $6 million for a luxe condo in Chicago’s Streeterville. Now he’s sunk $1.85 million more for a second unit 15 floors below.

The chairman and CEO of Archer-Daniels-Midland and his wife, Carolina, bought a 46th-floor condo at One Bennett Park at 451 East Grand Avenue, the Chicago Tribune reported. 

The purchase comes a year after they paid $5.72 million last March for a three-bedroom, 4,800-square-foot unit on the 61st floor.

The first half-floor condominium has sweeping views of Lake Michigan and the Chicago skyline. The second perch below will offer a closer look of nearby Navy Pier.

One Bennett Park, a 70-story tower designed by New York-based Robert A.M. Stern, has 279 apartments topped by 69 condos. But properties at the 1.7-acre Art Deco-inspired highrise developed in 2019 by Related Midwest, the Chicago office of New York-based Related Companies, have been slow to sell.

The developer sold 13 units last year, including a three-bedroom, four-bathroom unit that traded in July for $4 million, down $700,000 from its initial asking price. In March 2020, a 4,800-square-foot condo on the 63rd floor fetched $6.25 million. The Lucianos’ purchase last year, however, was a resale of a unit the developer had already sold, according to the Tribune.

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Juan Luciano, native of Argentina, was named CEO at ADM in 2015 and appointed chairman the following year. He previously had worked at Dow Chemical.

Luciano joined a record number of Chicago-area CEOs making $20 million or more in 2021, with compensation of $23.5 million, according to Crain’s.

He and his wife have been on a condominium buying spree across the Near North Side 

The Lucianos paid $1.61 million in 2013 for a 19th-floor condo in a highrise near their latest purchase, then paid $810,000 the following year for another 19th-floor unit in that building. In 2018, they paid $1.51 million for a 27th-floor condo in the same tower. 

They continue to own all three units, which brings their Streeterville holdings to five homes, one for each working day of the week.

— Dana Bartholomew

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