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Attorney Peter Francis Geraci Pays $8.6M for Raw Ritz-Carlton Penthouse

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The sale is the priciest of 2016 so far

After a lengthy legal battle over the right to purchase the raw 40th-floor penthouse space at the Ritz-Carlton Residences, bankruptcy attorney Peter Francis Geraci has finally closed on the space, paying $8.632 million for the full-floor unit. According to Crain’s and the Chicago Tribune, Geraci, a longtime staple on local television, is wasting no time on building out the residence. While the final sale price is certainly a substantial drop from the original $10.85 million asking price, the recent sale represents the highest price per square foot paid for an unfinished residence in the city’s history, both the Tribune and Crain’s note. The unit also currently holds the record for the priciest sale of 2016.