Trump Tower Penthouse Returns to the Market: 401 N. Wabash in River North
The 89th floor penthouse in Trump Tower at 401 N. Wabash in River North came on the market in September 2021.
Trump Tower was built in 2008 and has 486 units and an attached parking garage.
The hotel is on the lower floors and the condos are on the higher floors.
The building has a 14,000 square foot spa health club with a pool, outdoor space available to residents on the 16th floor, a club room and room service available directly to the condos.
It has door staff.
The condos have a separate entrance and elevators.
The listing says this penthouse has a private elevator accessed through a fob.
It has the entire top floor and has 360 degree views of the city and the Lake.
The penthouse has 19 foot ceilings in the living area with 18 foot floor-to-ceiling glass windows.
The listing says it is a “vanilla box” with just the walls and ceilings finished.
The buyer should “bring your own designer.”
There is no kitchen, bathrooms etc.
The listing says “Nothing like this has ever been or will ever be on the market again.”
According to Crain’s, the penthouse originally sold in 2014 for $17 million, which was a 53% reduction off the original asking price of $32 million.
The buyer was Sanjay Shah, the CEO of a suburban software firm.
According to Dennis Rodkin at Crain’s, Shah intended to finish building out the penthouse by 2018, but he never did.
Rafaeli also represented the penthouse at that time, and he told Chicago magazine that he expected finishing it into living space to cost between $4.2 million and $9.8 million at the going price for high-end finishes, up to $700 a square foot. Upper-end finishes now go for more like $1,000 a square foot, if not more, so finishing the space could run about $14 million, on top of the purchase price.
Rafaeli said in an email that Shah “did not complete the property because he became more focused on his business, which took a lot of time away from him. In addition, his two children are now grown and moved on, so it is a very large space for just two people.”
This unit has central air and heating and includes 4 parking spaces.
Listed for $30 million, is 2021, with the stock market near record highs, the perfect time to sell this penthouse?
Chezi Rafaeli at Coldwell Banker has the listing again. You can see the pictures and the floor plan here.
Unit #PH89A: 5 bedrooms, 8 baths, 14,260 square feet, penthouse
- Sold in December 2014 for $17 million
- Currently listed for $30 million
- Assessments of $16,635 a month (includes heat, a/c, gas, doorman, cable, exercise room, pool, exterior maintenance, lawn care, scavenger, snow removal)
- Taxes of $257,391
- Central Air
- Washer/dryer in the unit
- 4 parking spaces included
- Private elevator access with fob
- Bedroom #1: 51×22
- Bedroom #2: 30×30
- Bedroom #3: 30×21
- Bedroom #4: 30×21
- Bedroom #5: 21×19
- Living room: 54×24
- Dining room: 30×20
- Kitchen: 21×20
- Family room: 38×29
- Exercise room: 48×26
- Gallery: 25×14
- Laundry room: 10×9








