Spacious full-floor condo in the Palmolive Building re-lists for $6.9M

The renovated Mag Mile residence has been on and off the market for a little over a year

By Jay Koziarz Jun 12, 2017, 10:11am CDT

Well-heeled buyers take note, a luxurious full-floor condo unit in Chicago’s iconic 1929 Palmolive Building is back on the market with a slightly lower asking price. The 5,400-square-foot residence features four bedrooms, three baths, private elevator access, and views in every direction. Other upgrades include power sun shades, a sleek new kitchen, and a library with wood panelling and a coffered ceiling.

The condo is currently owned by Pamela and Joseph Damico. The latter is a founding partner of Lake Forest health care private-equity firm Roundtable Healthcare Partners, reported Crain’s earlier this year. According to records, the couple purchased the spacious unit in 2008 for $5.1 million. Last May, the Damicos listed the Mag Mile property for $7.5 million. The home then returned seeking a cool $7 million in January of this year. Today, the condo is back with a modest reduction, asking $6.9 million. The latest asking price works out to $1,277 per square foot.

Large, luxury homes can be slow to sell in the Art Deco tower—just ask actor Vince Vaughn. It took the Chicago area native five years to unload his massive triplex unit occupying the Palmolive’s 35th, 36th, and 37th floors. Though initally listed for $24.7 million, the Hollywood star’s home was ultimately divided into two individual condos that fetched a combined $12.1 million last fall.