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David Axelrod Spends Big on Michigan Ave

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A fixture of President Obama's brain trust, David Axelrod is getting extra comfy in Streeterville as he gets set to dedicate himself to academia. Following Obama's reelection campaign, Axelrod will begin piloting a new policy school at the University of Chicago. But right now, he's buying property: a new 3,320-square-foot Michigan Ave condo to be precise. What we know, thanks to Bob Goldsborough of The Tribune, is that it's a 42nd-floor unit with four bedrooms, four-and-a-half baths, a marble foyer, and lake views. The unit was listed last May for $2.25M, but Axelrod ran off with it for $1.7M. Looks like he may be trading up from a nearby condo, purchased for $950K in 2002. [Trib]