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Penthouse in Chicago’s old Montgomery Ward building is now available as a rental unit

The 6,400-square-foot, multi-level unit overlooks Lake Michigan and Chicago’s Millennium Park

Situated in the heart of Chicago's Cultural Mile inside the observatory of the old 1898 Montgomery Ward building designed by Schmidt, Garden, and Martin, this luxurious four-bedroom condo can either be purchased or rented. The newly renovated property first listed in its current state back July for a cool $6 million. It was later withdrawn from the market in August only to return one month later.

While the current asking price remains unaltered, the 6,400-square-foot unit—and its dramatic 20-foot ceilings and stunning views of the lake and Millennium Park—can also now be rented for $20,000 a month. Given the condo’s yearly HOA fees of $74,400, could leasing this tastefully renovated space actually be the more sensible play?