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Contemporary LSD Penthouse Lists At 65% Above '04 Sale Price

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Returning to market for the first time since its original developer sale in 2004, this "contemporary penthouse" on the 25th floor has three bedrooms, three baths, 2,450 square feet, and broad views out over the lake and Navy Pier. Now nine years old, its 195-unit lakeside building was a pretty big deal when it first touched down. Since then, other glitzier residential buildings have filled in the gaps throughout Streeterville. But that hasn't prevented the seller of this unit from jacking up the ask 65% over the '04 sale price. That makes it $1.775M or $724/sf. What accounts for such confidence? For starters, the place has been graced with numerous upgrades since: two built-in flatscreen TVs, surround sound, cherry flooring, a high-end custom kitchen, and lots of built-in cabinetry. The fundamentals are sound too: handsome bathrooms, large common areas, broad window banks, and two balconies. The building offers parking for two cars and a full catalogue of amenities. Still, we're left wondering about that ask.
·Listing: 530 N Lake Shore Drive #2905 [Koenig & Strey]