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Vince Vaughn splits Palmolive triplex penthouse to woo buyers

Actor Vince Vaughn has decided to take a different tack with his triplex penthouse unit atop the Palmolive Building on North Michigan Avenue, which he has been trying to sell for the past five years.

Vaughn first listed the 11,600-square-foot triplex unit in the Palmolive on an informal basis in 2011, seeking $24.7 million for it. He officially listed it the following year for $18.4 million, and, seeing no takers, cut his asking price several times, eventually bringing his listing price down to $13.9 million. Now, he has decided to offer the triplex in two separate pieces, at what amounts to a combined lower price.

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Listed for $13.9 million, the 12,000-square-foot triplex is nearing the 2006 price of $12 million that Vince Vaughn paid for it.

Vaughn purchased the triplex for $12 million in 2006 through his VAV 2005 Trust. On Monday, Vaughn listed the top two floors of the building, which are its 36th and 37th floors and comprise 7,880 square feet, for $8.5 million. He also listed the 3,725-square-foot 35th-floor unit for $4.2 million.

If separate buyers emerge for the two parts of his triplex, an internal staircase between the 35th and the 36th floors would need to be removed. In addition, the 35th floor largely would need to be redone. The new asking prices — which combined are $1.2 million less than the most recent $13.9 million asking price for the entire triplex unit — "take an allowance" for that, listing agent Katherine Malkin of Baird & Warner told Elite Street.

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Having the penthouse as a duplex and not as a triplex as it's currently configured — was "originally how the developer had it done," Malkin said. "We got feedback from buyers that (the triplex) was too much square feet."

"Like most things in those price points, it's something that's a second or third or fourth home for someone," Malkin said. "So we decided this was a different marketing opportunity. We thought we'd see if this was a better way to do it."

Malkin said a potential buyer of just the 36th and 37th floors would not need to make many changes to the unit, necessarily. However, the 35th floor likely would require significant alterations, she said. The option also exists that a buyer may come on the scene and choose to buy all three levels, she said.



Vaughn continues to own many properties in the Los Angeles area.

Bob Goldsborough is a freelance reporter.

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