Residential
Chicago
Archer-Daniels-Midland CEO Juan Luciano doubles down in Chicago’s One Bennett Park
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One Bennett Park unit closes for $6.3M three years after opening
Completed in 2019, the building is one of few residential skyscrapers built in the last five years
A condo on the 59th floor of One Bennett Park sold for $6.3 million this week after several years of dancing between on and off the market.
The 5,000-square-foot unit has four bedrooms and six bathrooms, according to public listings. It was originally listed for $6.55 million, putting the closing price 3 percent below the ask, a relatively small margin given the often steeper gaps between listings and sales prices in Chicago’s luxury sector as of late.
Developed by Related Midwest and designed by Robert A.M. Stern Architects, One Bennett Park includes a fitness center, yoga room, pilates studio, salon and massage suite, indoor and outdoor pools, and a 41st-floor owner’s lounge. The development also included Bennett Park, a public park adjacent to the building.
Brad Brondyke with Jameson Sotheby’s Int’l Realty represented the developer in the condo sale and Deborah Ballis Hirt represented the buyer, who is not yet identified in public records. Neither agent was available for comment.
The 69-floor building at 451 East Grand Avenue opened in 2019 after five years of planning and construction. Its website shows that three other units are for sale. That doesn’t include a four-bedroom penthouse on the 65th floor that’s asking just over $15 million, making it the fifth most expensive listing in the Chicago area.
The property is up against stiff competition, with both the St. Regis and Tribune Tower completions coming after One Bennett Park and often fetching top dollar for those seeking ultra high-end luxury condos in the downtown area.
This isn’t the first sale to exceed $6 million in One Bennett Park, where condo units start at $2 million.
Related Midwest initially listed units in late 2018. In 2019, another 4,800-square-foot condo sold for $6.2 million, making The Real Deal’s list of top Chicago residential sales that year. In 2020, a buyer paid $6.25 million for one of the condos, marking one of the priciest sales in a year marked by pandemic’s spread.
The condo is the seventh property to sell at or above $6 million in the Chicago area this year.
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