Penthouse Week: Get 6 Bedrooms and 360 Degree Views in the Gold Coast at 4 E Elm
This 6 bedroom penthouse in 4 E Elm in the Gold Coast came on the market in May 2021.
Built in 2016, the building has only 35 units and an attached parking garage.
However, it has big building amenities including an outdoor pool, whirlpool, sundeck, fitness center, screening room and clubhouse lounge.
The building has 24 hour door staff.
This penthouse is a full-floor unit with a private elevator and 360 degree views of the city and lake through floor to ceiling windows.
The listing says it has “multiple” living and dining areas.
The kitchen has white and gray (or black?) “full height” Florense cabinets with waterfall counter tops, with an island and Subzero, Wolf and Miele appliances.
The primary suite has a massive walk-in-closet with built-in storage.
The listing says this property has “bountiful configurations” with space for an in-home gym, theater or offices.
It has three outside spaces including a covered 12×15 balcony.
This penthouse has central air, a laundry room and 3 deeded garage spots are included.
It sold from the developer just 5 years ago for $4.22 million.
Now listed at $12.9 million, is this the perfect penthouse for those who want to be in the Gold Coast but also want amenities?
Philip Skowron at @Properties has the listing. See the pictures here.
Unit #20: 6 bedrooms, 5.5 baths, 6600 square feet, penthouse
- Sold in June 2016 for $4,224,500
- Originally listed in May 2021 for $12.9 million
- Currently still listed at $12.9 million (includes 3 garage parking spaces)
- Assessments of $6,710 a month (includes heat, a/c, gas, doorman, cable, exercise room, pool, scavenger)
- Taxes of $128,912
- Central Air
- Washer/dryer in the unit
- Bedroom #1: 20×15
- Bedroom #2: 13×14
- Bedroom #3: 11×17
- Bedroom #4: 11×23
- Bedroom #5: 22×20
- Bedroom #6: 11×20
- Living room: 28×24
- Dining room: 12×27
- Kitchen: 20×27
- Foyer: 16×13
- Laundry room: 8×17
- Family room: 26×14
- Office: 10×9
- Balcony: 12×15
- Walk-in-closet: 17×22
$2000/sf?
If it was furnished, I’d think it was a “make me move”. Might as well put “No low ball offers, I know what I’ve got” in the add copy.
Curious if this was ever lived in? Wonder if it was spec’ed & built out for someone who lives elsewhere (billionaire with multiple homes) who later changed their mind? Doesn’t appear like there has ever been a piece of furniture, anything hung in the closets, etc.
I also not that if someone did live there, the cleanup even removed toilet paper (seems like a small thing to leave a roll for use by a potential buyer?) But, likelier there were never any rolls installed!
Also–I’m guessing the 2016 price was for unfinished space & there was at least another 3-5 million spent on buildout. Beautiful space, but thin buyer pool in this stratosphere!
2k psf for Chicago lol, I’ll check this piggy 2 years from now to note all the price chops.
Let me check my accounts to see if I can afford this. BRB. Seriously overpriced.
“2k psf for Chicago lol, I’ll check this piggy 2 years from now to note all the price chops.”
Chicago is definitely at $1,000 per square foot for the luxury market now. Finally.
Some buildings commanding $1500. But $2000? It’s tough.
What do you think of the views?
You do get 360 degrees but there is a new high rise going in diagonally across the street in the Barnes & Noble space and there may be a new high rise down the street to the south in the next few years as well (Carmine’s restaurant is on the block.)
This block and some of the blocks immediately around it have turned into trash. There are plenty of dicey bars, and a bunch of vacancies, including the giant Barnes and Noble.
“What do you think of the views?”
The view is cool, but seems very pricy. I would prefer an entire floor of a unit in the condo building attached to Water Tower Place. Not sure if such a floor plan is available, but you could buy several units on the same floor and still be at a lower price point than this place.
Vista Tower penthouses blow away the views of this place for 25% less PSF. (And they are selling finally)
“What do you think of the views?”
Views suck for $2k/sf.
I’d expect an un-obstructed lake views as a minimum at this price point. The view to the South is pretty marginal
“This block and some of the blocks immediately around it have turned into trash. There are plenty of dicey bars, and a bunch of vacancies, including the giant Barnes and Noble.”
Are you denigrating Shenanigans?
Probably listed for at least double or maybe triple what it will actually sell for… LOL @ 10k a month in property taxes
“This block and some of the blocks immediately around it have turned into trash. There are plenty of dicey bars, and a bunch of vacancies, including the giant Barnes and Noble.”
As I mentioned, the Barnes & Noble will soon be no more. A nice, new luxury apartment building is going in there but they are keeping Lou Malnati’s in the base apparently.
Additionally, a really lovely midrise is going up at State and Division. I think it will really help that block. It will be the first new apartment building in that area in a LONG time. Division needs some help on that block. It has a nice farmers market though.
https://www.gildchicago.com/
The Sinclair was built at Clark and Division only a few years ago. Two or three new apartment buildings went up west of LaSalle and Division recently.
The one at State and Division opens next Spring and I feel certain the proposed development at the old B&N lot will be approved. A luxury apartment building was completed last year at Lakeshore and Burton.
Granted there are empty spaces along the stretch but they will fill soon as a result of these new units coming on board
So nothing in this area in a long time is incorrect
I’m no expert on finishes, but I wonder if these are incredible enough to justify the incredible price of the unit.
The outdoor space is great, but the indoor space looks mundane for $13 million. It doesn’t appear any more spectacular than a number of $2 million units I’ve seen. Building amenities look meh.
Also, the views are decent, but this would need to be 10 floors higher to really get above the surrounding buildings for more than a peek at the lake. For this much money, I don’t want to be looking at surrounding buildings.
Someone said they’d like a full floor in the condo tower above Water Tower Place. That’s unrealistic. There are about 8 condos per floor. A full floor there would probably be 30,000 SF or more. I’ve never heard of anyone having a full floor in that building. Oprah had a duplex, but it wasn’t two full floors.
“Oprah had a duplex, but it wasn’t two full floors.”
Correct Dan. There were actually people living ON Oprah’s floor, I believe. Even though she had a massive unit in there.
It’s interesting how things have changed in luxury building in the last 40+ years in terms of what the expectations are.
Most newer buildings, however, still now have multiple units on the “penthouse” floor. That’s why a 360 degree view in this boutique building is pretty rare.
“A full floor there would probably be 30,000 SF or more.”
Looks like it’s about 18,000, net of the main elevator core. Still way too big, of course, but plausible as 3 units at ~5500 (accounting for extra hallway).
For comparison, 7 W Walton, below the stepped back floors, is around 10,000 sf, net of elevator/stairs.