As first reported by the Chicago Tribune, a lavish, 52nd-floor unit over at the renowned Waldorf Astoria tower in Chicago’s Gold Coast sold for $11.7 million earlier this month, which marks the highest price paid for a Chicago-area home so far in 2016.
The unit that sold first hit the market back in June of 2015, with owners initially asking $13.9 million. An eventual price drop to $12.85 million happened back in March, and now it seems the final purchase price was settled for just under $12 million.
According to property records, the seller first punched the condo back in 2010 for 8.18 million, guaranteeing a profit of just over $3.5 million.
The mega sale at Waldorf Astoria Chicago now beats out a $10.5 million sale of a 300 acre farm out in Lake County, as well as a penthouse over on Michigan Avenue, which sold for $8.63 million earlier this year.