$5,150,000
SOLD FEB 21, 2025
3 Beds
3.5 Baths
5,400 Sq Ft
$7,785/mo HOA Fee

Recently Sold

$954 Per Sq Ft

13% Below List Price

8 Days on Market

Highlights

  • Doorman
  • Fitness Center
  • Fireplace in Primary Bedroom
  • Steam Room
  • Heated Floors
  • 1-minute walk to Lakefront Park

About This Home

As of February 2025

Encompassing an entire premier floor within Chicago's iconic Palmolive Building, high above the Mag Mile overlooking the endless azure of Lake Michigan, 159 E. Walton Place, unit 23A, is a professionally designed 5,400-sq-ft, 3 bed/3.5 bath home with flawless finishes and modern Art Deco appeal. Originally completed in 1929 by the renowned architectural firm of Holabird & Root, the Palmolive has been meticulously maintained for world-class living and affords exceptional amenities including a 24-hour door staff, concierge services, a fitness facility, a luxe spa, and the Beacon Club - and this breathtaking full-floor unit is its undisputed crown jewel. An unrivaled level of refinement is evident moment one in the private elevator foyer, where herringbone hardwood floors and timeless architectural details set an elegant tone. Seamlessly fanning out from here, a marvelous entertaining footprint unfolds, including a light-filled living room with a custom-built wet bar that boasts a Lindsey Adelman light fixture, an icemaker and a wine fridge, a stylish formal dining room, a traditional sitting room, a handsome library/den with ebony lacquered paneling and curved glass shelves, and a design-forward family room with Porta Romana swing arm sconces. With clean lines and concealed state-of-the-art appliances, the chef's kitchen is a glowing testament to the artisan craftsmanship found throughout, and features custom fluted lacquer wood cabinets, a large marble-topped island, professional appliances from Wolf/Sub-Zero/Bosch including a wine fridge, a butler's pantry, and a second dining space that overlooks the lakefront. Past a long gallery hall that provides a layer of privacy and links to the first of two editorial-worthy secondary bedrooms, this home's private quarters span the entire western end of the residence, and include a third ensuite bedroom, a private home office, and an expansive primary suite. Boasting a corner position for double exposure, the primary enchants with large windows, a fireplace with a 19th century French carved marble mantle, a spacious custom-designed walk-in closet, and a luxurious ensuite bath with Samuel Heath fixtures, Agape lighted mirrors, dual custom vanities, and heated marble floors. Additional designer details and amenities include custom paint, wallcoverings and window treatments, additional designer light fixtures from the likes of Apparatus and Studio Van den Akker, custom closets, a presentation-worthy powder room, a finely appointed walk-in laundry room, Savant smart home automation, trimless recessed lighting, and Lutron lighting control. With unparalleled panoramas and every modern comfort imaginable, 159 E. Walton Place, unit 23A, is a once-in-a-lifetime opportunity to own a spectacular piece of Chicago history.

Last Agent to Sell the Property

Tim Salm

Jameson Sotheby's Intl Realty License #475133721 Listed on: 01/13/2025

Jameson Sotheby's Intl Realty

Last Buyer's Agent

Jill Silverstein

Compass License #475167682

Compass

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $68,056

Year Built

  • Built in 1929 | Remodeled in 2020

HOA Fees

  • $7,785 Monthly HOA Fees

Parking

  • 2 Car Attached Garage
  • Heated Garage
  • Garage Door Opener
  • Parking Included in Price

Home Design

  • Concrete Perimeter Foundation

Interior Spaces

  • 5,400 Sq Ft Home
  • Wet Bar
  • Gas Log Fireplace
  • Entrance Foyer
  • Family Room
  • Sitting Room
  • Living Room
  • Formal Dining Room
  • Home Office
  • Library
  • Storage
  • Gallery

Kitchen

  • Double Oven
  • Gas Cooktop
  • Range Hood
  • Microwave
  • High End Refrigerator
  • Freezer
  • Dishwasher
  • Wine Refrigerator
  • Disposal

Flooring

  • Wood
  • Heated Floors

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Potential Bedrooms
  • Fireplace in Primary Bedroom
  • Walk-In Closet
  • Dual Sinks

Laundry

  • Laundry Room
  • Laundry on main level
  • Dryer
  • Washer
  • Sink Near Laundry

Schools

  • Ogden Elementary School
  • Wells Community Academy Senior H High School

Utilities

  • Forced Air Zoned Heating and Cooling System
  • Lake Michigan Water

Community Details

Overview

  • Association fees include heat, air conditioning, water, gas, parking, insurance, security, doorman, tv/cable, exercise facilities, exterior maintenance, scavenger, snow removal, internet
  • 102 Units
  • Lynn Association, Phone Number (312) 751-0900
  • Palmolive Building Landmark Subdivision
  • Property managed by Sudler
  • 37-Story Property

Amenities

  • Doorman
  • Valet Parking
  • Steam Room
  • Party Room
  • Elevator
  • Service Elevator
  • Package Room
  • Community Storage Space

Recreation

  • Community Spa

Pet Policy

  • Limit on the number of pets
  • Dogs and Cats Allowed

Security

  • Resident Manager or Management On Site

Property Details

Home Type

Condominium

Est. Annual Taxes

$68,056

Year Built

Built in 1929 | Remodeled in 2020

Lot Details

0

HOA Fees

$7,785 per month

Parking

2

Listing Details

  • Property Type: Residential
  • Property Type: Attached Single
  • Type Attached: Condo
  • Ownership: Condo
  • New Construction: No
  • Property Sub-Type: Condo
  • Subdivision Name: Palmolive Building Landmark
  • Year Built: 1929
  • Age: 91-100 Years
  • Built Before 1978 (Y/N): Yes
  • Disability Access and/or Equipped: No
  • General Information: None
  • Rebuilt (Y/N): No
  • Rehab (Y/N): Yes
  • Unit Floor Level: 23
  • Rehab Year: 2020
  • Actual Status: Closed
  • ResoPropertyType: Residential
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 37
  • Year Renovated: 2020

Interior Features

  • Appliances: Double Oven, Microwave, Dishwasher, Refrigerator, High End Refrigerator, Freezer, Washer, Dryer, Disposal, Wine Refrigerator, Cooktop, Oven, Range Hood, Gas Cooktop
  • Basement: None
  • Full Bathrooms: 3
  • Half Bathrooms: 1
  • Total Bathrooms: 4
  • Total Bedrooms: 3
  • Fireplace Features: Gas Log
  • Fireplaces: 1
  • Interior Amenities: Bar-Wet, Hardwood Floors, Heated Floors, First Floor Laundry, Laundry Hook-Up in Unit, Storage, Walk-In Closet(s)
  • LivingArea: 5400
  • Room Type: Foyer, Gallery, Library, Office, Sitting Room, Walk In Closet
  • Stories Total: 37
  • Estimated Total Finished Sq Ft: 0
  • Basement Description: None
  • Bathroom Amenities: Double Sink
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0
  • Dining Room: Separate
  • Fireplace Location: Master Bedroom
  • Total Sq Ft: 0
  • Flooring: Hardwood
  • ResoLivingAreaSource: Builder

Exterior Features

  • Foundation Details: Concrete Perimeter
  • Waterfront: No
  • Exterior Building Type: Marble/Granite,Limestone

Garage/Parking

  • Garage Spaces: 2
  • ParkingTotal: 2
  • Garage Details: Garage Door Opener(s),Heated
  • Garage On-Site: Yes
  • Garage Ownership: Owned
  • Garage Type: Attached
  • Parking: Garage

Utilities

  • Sewer: Public Sewer, Sewer-Storm
  • Cooling: Central Air, Zoned
  • Heating: Forced Air, Zoned
  • Laundry Features: In Unit, Sink
  • Water Source: Lake Michigan, Public

Condo/Co-op/Association

  • Pets Allowed: Cats OK, Dogs OK, Number Limit
  • Association Fee: 7785
  • Association Amenities: Door Person, Elevator(s), Exercise Room, Storage, Health Club, On Site Manager/Engineer, Party Room, Receiving Room, Service Elevator(s), Steam Room, Valet/Cleaner, Spa/Hot Tub
  • Association Fee Frequency: Monthly
  • Management: Manager On-site,Monday through Friday
  • Master Association Fee: No
  • Master Association Fee Frequency: Not Required
  • Management Company: Sudler
  • Management Contact Name: Lynn
  • Management Phone: 312-751-0900
  • ResoAssociationFeeFrequency: Monthly

Fee Information

  • Association Fee Includes: Heat, Air Conditioning, Water, Gas, Parking, Insurance, Security, Doorman, TV/Cable, Exercise Facilities, Exterior Maintenance, Scavenger, Snow Removal, Internet

Schools

  • Elementary School: Ogden Elementary
  • High School: Wells Community Academy Senior H

Lot Info

  • Lot Dimensions: PER SURVEY
  • Special Assessments: N

Rental Info

  • Board Number: 8
  • Pets Allowed (Y/N): Yes
  • Is Parking Included in Price: Yes
  • Max Pet Weight: 999

Tax Info

  • Tax Annual Amount: 68055.96
  • Tax Year: 2023
  • Tax Exemptions: None

Multi Family

  • Units in Building: 102

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 13, 2025
Closed on
Feb 19, 2025
Sold by
Holdco 12 Llc
Bought by
Mikat Llc
Seller's Agent
Tim Salm
Jameson Sotheby's Intl Realty
Buyer's Agent
Jill Silverstein
Compass
List Price
$5,950,000
Sold Price
$5,150,000
Premium/Discount to List
-$800,000
-13.45%
Views
15
Current Estimated Value
$5,074,161

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$75,839
Avg. Annual Appreciation
-1.75%

Purchase Details

Listed on
Feb 21, 2018
Closed on
Jul 20, 2018
Sold by
Moore Wayne and Moore Helene
Bought by
Holdco 12 Llc
Seller's Agent
Jennifer Mills
Jameson Sotheby's Intl Realty
Buyer's Agent
Elizabeth Bennan Ellis
Berkshire Hathaway HomeServices Chicago
List Price
$6,750,000
Sold Price
$6,250,000
Premium/Discount to List
-$500,000
-7.41%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-2.90%
Original Mortgage
$3,100,000
Interest Rate
3.12%
Mortgage Type
Adjustable Rate Mortgage/ARM

Purchase Details

Closed on
Sep 19, 2006
Sold by
Palmolive Tower Condominiums Llc
Bought by
Moore Wayne and Moore Helene
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Warranty Deed $5,150,000 Chicago Title
Warranty Deed $6,250,000 Chicago Title
Special Warranty Deed $5,154,000 None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $3,100,000 Adjustable Rate Mortgage/ARM
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
02/21/2025 02/21/25 Sold $5,150,000 -13.4% $954 / Sq Ft
01/21/2025 01/21/25 Pending -- -- --
01/13/2025 01/13/25 For Sale $5,950,000 -4.8% $1,102 / Sq Ft
07/31/2018 07/31/18 Sold $6,250,000 -7.4% $1,157 / Sq Ft View Prior Sale
06/18/2018 06/18/18 Pending -- -- --
02/21/2018 02/21/18 For Sale $6,750,000 -- $1,250 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $68,056 $319,004 $15,627 $303,377
2023 $74,210 $322,556 $12,589 $309,967
2022 $74,210 $360,801 $12,589 $348,212
2021 $72,554 $360,800 $12,589 $348,211
2020 $85,025 $381,671 $8,807 $372,864
2019 $83,213 $414,174 $8,807 $405,367
2018 $83,303 $421,716 $8,807 $412,909
2017 $80,763 $375,172 $5,661 $369,511
2016 $61,306 $306,090 $5,661 $300,429
2015 $27,168 $148,262 $5,661 $142,601
2014 $22,924 $123,555 $5,661 $117,894
2013 $17,977 $98,844 $5,661 $93,183
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 12269632

Midwest Real Estate Data (MRED)

APN: 17-03-213-020-1014