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Park Tower condo unit lists for $12 million — $3,000 a square foot

A two-bedroom, 4,000-square-foot condo unit in the Park Tower was listed Monday for $12 million, or $3,000 per square foot.

The unit is owned by Sequel Capital founder Harvey Kinzelberg and his wife, Mary Ann. Harvey Kinzelberg is no stranger to expensive properties, having sold a four-bedroom, 8,906-square-foot French chateau-style mansion on Lake Michigan in Glencoe in 1998 for $8.1 million.

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Now, however, the Kinzelbergs are seeking rarefied air — never has a condo in Chicago sold for anywhere near $3,000 per square foot. Listing agent Chezi Rafaeli of Coldwell Banker told Elite Street that the owner had invested $7 million in the unit. Public records show that the Kinzelbergs paid $1.775 million for the unit in 2001.

The 60th-floor unit has 2-1/2 baths, 12-foot ceilings, a balcony, private elevator access, a formal dining room with double exposures, an eat-in kitchen with Gaggenau, Miele and Sub-Zero appliances, millwork and a master suite with a large dressing room, a steam shower and a radiant heated marble floor.

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Designers Scott Himmel and Darcy Bonner oversaw the renovation of the unit, according to listing information.

"It's done by the most prominent designers in the city of Chicago," Rafaeli told Elite Street. "And the owners spent $7 million designing it and making it beautiful."

Even if the Kinzelbergs garner their full asking price, the sale still would meaningfully lag two previous sales in the Park Tower. Billionaire Ken Griffin paid $15 million in 2012 for a 66th-floor, full-floor unit in the North Michigan Avenue building. And last year, a 65th-floor penthouse in the building sold for a record $18.75 million to a limited liability company.

Bob Goldsborough is a freelance reporter.



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