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A condo with a private outdoor pool in downtown Chicago sold for $20.56 million, according to the developer.
5 bedroom unit
According to Sean Linnen, executive vice president of Magellan, the development group’s residence at The St. Regis Chicago. He declined to identify the buyer or the asking price, but said the buyer requested a combination of multiple units and an outdoor space.
Magellan Development Group (4)
According to Linnane, the deal is the most expensive deal recorded in the Chicago area so far this year. The record for the most expensive sale in the area was set by hedge fund mogul Ken Griffin in 2017 when he bought several floors of a Chicago condo for $58.75 million. The Wall Street Journal reported.
The St. Regis units are duplexes on the 71st and 72nd floors of the building, Linnane said. It has approximately 11,000 square feet of interior space, including a home theater and gym. The unit’s approximately 8,400 square feet of exterior space includes a pool, hot tub, and dining area. Magellan had an in-house sales team representing the deal, he said.
Located in the Lakeshore East area, the St. Regis has 393 condominium units and 192 hotel rooms, Rinne said. Linnane said residents will have access to all of the hotel’s facilities, including facilities such as a fitness center and golf lounge, and the hotel is expected to open in the first quarter of next year.
The Magellan Group began selling units in the building in 2016, with more than 60% sold, Linnane said.
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