Marcus Lemonis Sells Chicago Streeterville Condo at a Loss

Marcus Lemonis took a loss on his Streeterville condo, highlighting prolonged value erosion at the Bloomingdale’s building.

The Camping World co-founder and former CNBC personality sold his 4,800-square-foot, 21st-floor unit in September for $3.3 million, the Chicago Tribune reported. The deal works out to $689 per square foot.

The sale price is just below the $3.39 million he paid in 2020 but far off the nearly $5 million he sought when he first listed the condo two years ago.

The three-bedroom residence occupies part of a 200,000-square-foot slice of the Bloomingdale’s building that JMB Realty began converting to residences from offices in the mid-2000s after advertising giant J. Walter Thompson exited.

The unit features floor-to-ceiling windows, dual dining areas, a split floorplan separating primary and guest wings, five distinct living areas as well as a kitchen stocked with high-end appliances. The home is on the southeast corner of the building and has lake views, as well as city views of Michigan Avenue and the river.

Lemonis, a reality TV star whose shows include “The Renovator,’’ first tried to sell in spring 2022, asking almost $5 million, but the listing fizzled.

It returned to market in August at $3.45 million, and less than two weeks later it was under contract.

City & Field Real Estate’s Joe Wright was the listing agent. Public filings show the recorded price at $3.3 million, with another $300,000 in personal property — probably furniture — tacked on. MLS records reflect a combined $3.6 million deal value. The buyer was identified only as a Miami Beach philanthropist.

Even at the higher figure, the price continues a downward trajectory for the building. The condo fetched $4.75 million in 2010, meaning its former owners took a seven-figure loss when they sold to Lemonis in 2020. The broader pattern at 900 North Michigan is unmistakable: multiple units are trading at or below values last seen decades ago.

The tower’s monthly HOA dues run $5,856, and the unit’s tax bill came in at $58,990 last year — heavy carrying costs that may be contributing to the building’s price compression as luxury buyers seek newer products along the Mag Mile and in nearby Gold Coast towers.

— Eric Weilbacher