ADM CEO Juan Luciano Lists Luxe Streeterville Condo for $6.9M

The head of agribusiness giant Archer Daniels Midland is looking to cash out of one of Chicago’s priciest condo towers.

Juan Luciano, ADM’s president, CEO and chairman, and his wife Caroline just put their 48th-floor unit at One Bennett Park on the market for $6.9 million, Crain’s reported. The couple bought the four-bedroom, 4,800-square-foot spread in 2022 for a little more than $5.7 million — or about $1,188 per square foot — setting their ask about 20 percent higher than what they paid three years ago.

Such appreciation would be a far cry from the broader market. Condo values in Streeterville have been mostly flat over the same stretch — up about 2 percent, according to Redfin, while Zillow data shows a 5 percent dip. Downtown condo sellers have been facing an uphill battle since the pandemic, as demand trails supply and many units sit on the market longer.

For high-end sellers like the Lucianos, the bet is that luxury buyers remain insulated from broader market weakness. But their pricing also tests just how much appetite remains for trophy condos in a downtown market still trying to regain its footing.

Still, Luciano’s listing leans on finishes fit for a CEO. The condo features 11-foot Venetian plaster ceilings, herringbone wood floors, horsehair wall coverings, cashmere blackout drapes in the primary bedroom and a bronze fireplace mantel. Jameson Sotheby’s International Realty’s Brant Booker has the listing.

Last year a Streeterville penthouse listed for $4 million at 415 East North Water Street, and a whole lot less by the foot, asking $430 per square foot. The latest listing for that unit came down from a nearly $13 million ask when the sellers first put it on the market in 2015.

Luciano, who joined ADM in 2011 and took the reins as CEO in 2015, bought the Bennett Park unit about a year before he and his wife picked up another in the same tower 15 stories below, paying $1.85 million. That second unit hit the rental market last year at $10,500 a month, but isn’t listed for sale.

ADM, one of the world’s largest food processors, moved its global headquarters to Chicago in 2014. Luciano has overseen the company’s expansion and transition from its downstate Decatur base.

— Eric Weilbacher