A full-floor condominium with 360-degree views of Chicago is set to go to auction with no reserve on Nov. 14, according to Elite Auctions, which is handling the sale.
Located in a 26-story building in the city’s River North neighborhood, the five-bedroom, five-bathroom residence was most recently priced at $2.8 million, according to listing records. It will be sold at an on-site auction, although remote bidding will be accepted.
Lewis Kostiner, who with his wife, Anne Neri Kostiner, are local real estate developers, said they bought the 11th-floor space directly from the developer in 2009. Mr. Kostiner did not remember the exact price but said it was probably under $2 million for the space and the upgrades to the design.
“We wanted to lay out the apartment to suit our needs,” he explained. And “there are virtually no 5,000-square-foot apartments in Chicago.”
The couple created two separate living spaces, with their office and bedroom on one side and their childrens’ rooms and bathroom on the other.
They also wanted the apartment to have a contemporary feel to match the new construction of the building, which was completed in 2009. To that end, they left the concrete beams exposed and chose top-of-the-line finishes and hardwood and marble terrazzo flooring.
“It looks very modern, almost like a loft,” said Mr. Kostiner, who, with his wife, was behind the redevelopment of many industrial buildings into residential lofts in the city’s West Loop.
Access to the apartment is via keyed elevator, and the public spaces have an open plan and floor-to-ceiling windows. On the facade, those windows are coated for energy efficiency throughout the building.
The kitchen features custom Italian cabinets, Viking, Sub-Zero and Wolf appliances and a 12-foot island with a breakfast bar. Although there is only one kitchen, there is already plumbing set up on the other side in case the new owner wants to add another, Mr. Kostiner, 70, noted.
Two heated parking spaces are included with the sale, but the couple owns four additional spaces in the garage that they might sell separately, he said.
The building has 24-hour front desk staff, a rooftop deck, a conference room, a dog run and a fitness center, according to the listing. It’s also within walking distance of Lake Michigan and shopping on Chicago’s Magnificent Mile.
Read Mansion Global’s full article HERE.