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Renovated ‘penthouse spec’ condo overlooking Grant Park takes $100K price chop

This sprawling five-bedroom South Loop pad comprises half of 1201 S. Prairie's 23rd floor

A spacious and heavily-renovated unit overlooking Grant Park in Chicago’s South Loop is back on the market after taking $105,000 price reduction. Built in 2008 and occupying one half of The Grant's 23rd floor, the home offers an impressive five bedrooms, five-and-a-half bathrooms, a top-of-the-line kitchen, and great wrap-around views of Chicago’s skyline, lakefront, and the park. Remodeled by Chicago-based Real Restoration, the unit and its neighbor were both featured earlier this year as part of Curbed Chicago’s Renovation Week.

Failing to find a buyer at $4,100,000, the property is now looking for $3,995,000. While still a hefty chuck of change, the price is equates to $676 per square foot — a comparative bargain to what similarly equipped new construction condos in upcoming towers like Vista and One Bennett Park are seeking further north. The relatively low per foot price combined with Chicago’s scarcity of five-bedroom condo options means this highly renovated unit is uniquely positioned in the marketplace. But will it now sell? That remains the $3,995,000 question...