xml:space="preserve">
xml:space="preserve">
Advertisement

Peter Bynoe, wife sell Palmolive Building condo

Chicago developer, lawyer and former pro basketball team owner Peter C.B. Bynoe and his wife, Linda, on April 15 sold their two-bedroom condo in the Streeterville neighborhood for $2.225 million.

The Bynoes paid $2.17 million for the 2,832-square-foot condo in the Palmolive Building in 2006. In 2014, the Bynoes listed the 14th-floor corner unit for $2.65 million. At the time of the listing, the unit only had one bedroom, as they had converted a second bedroom to a den before they moved into it.

Advertisement

Listing agent Carmen Allen of Jameson Sotheby's told Elite Street the Bynoes took the unit off the market in 2015 in order to convert the den back to a second bedroom and then relisted the condo in September for $2.35 million. The asking price later was cut to $2.29 million.

"The market dictated that people wanted a two-bedroom unit, so (the Bynoes) did a conversion to sell it," Allen said.

Advertisement

The former CEO of Rewards Network, Peter Bynoe once owned a stake in the Denver Nuggets basketball team, while Linda Bynoe is president and CEO of Telemat Ltd.

The Bynoes paid $3.9 million in 2014 for a 37th-floor condo in the Ritz-Carlton Residences on North Michigan Avenue.

Crain's Chicago Business first reported on the Bynoes' sale.

Bob Goldsborough is a freelance reporter.



Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement