Opulent Gold Coast co-op with imported French walls knocks $1.5M off asking price

The spacious and extravagant duplex has taken another dramatic price chop

By Jay Koziarz Sep 7, 2017, 11:46am CDT

Occupying the 14th and 15th floors of the 1927 McNally & Quinn/Rosario Candela-designed building at 1500 N. Lake Shore Drive, this lavish co-op in Chicago’s Gold Coast neighborhood has returned to the market with a greatly reduced asking price. Owned by the Wrigley family for two generations, the 10,000-square-foot residence offers unobstructed views of Lake Michigan and is full of historic architectural details salvaged from old European buildings.

According to the agent notes, the property’s foyer, dining room, living room, and library all sport Louis XV Boiserie paneling dating back to the mid-18th century. The home’s antique limestone staircase was also imported from France and carefully reassembled by skilled craftspeople. Even the updated designer kitchen draws its inspiration from historic French architecture.

The opulent seven-bedroom, eight-bathroom home arrived on the market in early 2016 seeking $13.5 million before re-listing for $9.99 million roughly five months ago. With no apparent takers, the sprawling duplex returned yesterday for $8.5 million. The seller is accepting cash offers only, per the listing. The monthly co-op fee remains unchanged at $10,689.