There sure seems to be a lot of 8 figure homes on the market in Chicago these days – 13 to be exact, 2 of which are currently under contract. #4 on that list just hit the market on Thursday. It’s a full floor condo on the 52nd floor of the Waldorf Astoria at 11 E Walton owned by options trader and co-founder of Hard Eight Trading, Igor Chernomzav.
You want to really feel bad about yourself? This guy just graduated college in 1999 with a Philosophy degree. How many Philosophy majors do this well?
This guy has been doing several real estate transactions in the building over the years because I actually wrote another blog post about him back in 2010: Flipping Multi-million Dollar Properties in which I mentioned that he purchased this 52nd floor unit for $8.18 MM. Who knows how much he put into the remodel/ build out.
In that earlier post I mentioned that he paid $7.25 MM for other Waldorf Astoria Condos on the 56th and 57th floor – combined I assumed. It looks like he sold the 56th floor unit in 2012 for just under $6 MM and it’s not clear if he did anything to it because it was sold as a “vanilla box”. The 57th floor unit was also sold in 2012 for just under $4 MM and was also unfinished. It’s not at all clear why there was such a dramatic difference in prices between the two units. But you can see that he made a pretty decent profit on the two units and I’ll admit that I wasn’t very optimistic about his plans back then.
Here are the particulars on this 52nd floor unit along with the MLS description and a slideshow at the bottom:
- 4 bedrooms, 4 1/2 baths
- At least 3 outdoor spaces referred to as deck, terrace, balcony, but I’m sure they’re pretty similar. There are a couple of photos in the slideshow below.
- Private pool, home theater, and possibly a private gym
- 1 fireplace
- 3 parking spaces
- Monthly assessments = $5979
- Property taxes = $103,593, based upon a $5.7 MM valuation. Joe Berrios, there’s a pattern here with these mega million properties. Would you please wake up?!
Unparalleled full floor residence at the Waldorf Astoria. Complete custom build out from top to bottom utilizing the absolute finest materials available. Gracious, flowing living spaces. Incredible master suite w/dream closet and true spa bath leading to unbelievable private pool area. Multiple expansive terraces with unmatched views in all directions. Beautiful paneled den, home theater and glass encased wine cellar
#ChicagoExpensiveHomes #ExpensiveHomes
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