While a $17.1 million penthouse is peanuts by New York City standards, the 7,000-square-foot duplex unit atop the Vista Tower to be finished in 2020 — Chicago’s third tallest building — will be a record breaker.
Located in Chicago’s tony Lakeshore East area, the amenity-laden building stands 1200 feet tall with 95 stories. A hotel will be housed on its first 11 floors, while 406 condos will reside above, starting in price from $1 million for a measly 1,000-square-foot one-bedroom. The top twenty floors will house just a single unit per floor.
The building is being co-developed by Asia’s richest man, Wang Jianlin, said to have a net worth of $31.7 billion! Jianlin seems to be going on a spending spree of late. According to Bloomberg, the billionaire has been “sweeping up AMC Entertainment Holdings for $2.6 billion, the Hollywood production company Legendary Entertainment for $3.5 billion, [is] even the organizer of the Ironman triathlons for $650 million.”
The elegant space high above “The Windy City” will be the ultimate home for a one percenter who wants to feel homey at the top. Featuring 360-degree views, floor-to-ceiling windows, Gaggenau appliances, heated bathroom floors and soaking tubs, it is expected to draw a cash-laden buyer.
Obviously a very wealthy person is going to buy it,” said Jim Losik, the national marketing director of Magellan development, who has partnered with Jianlin on this project. “It could be someone local, it could be someone with business interests in the city, and quite frankly, given our relationship with our Chinese partner, I wouldn’t be surprised if it’s an Asian buyer.”