Whether a penthouse is on the top floor of a six-story mid-rise or the 50th floor of a skyscraper, it is considered the most desirable condominium in the building, offering the best views and luxury amenities. Designed from the beginning to be marketed as an exclusive residence, architects take advantage of the building’s expansive roof-top space, set-back from the outer walls, to create large, private outdoor terraces, where as other units on lower floors may just have a balcony. In keeping with the exclusivity, most penthouses have keyed elevator landings with direct access to the apartment’s foyer, and often the ride is non-stop from the lobby to the residence. Although luxury penthouse apartments became popular in the 1920s, after the notoriety of the roof top residence at the Plaza Hotel overlooking Central Park, recent demand and buyers’ willingness to pay premium prices, encouraged developers to design buildings with multiple high-floor penthouses. Ironically, offering three or more penthouses in a building only increases the flurry of competition, and, often, they are the first luxury condos to sell in Chicago’s new developments, driving prices to soar along with the floor heights
189 East Lake Shore Drive Ph18, Chicago, IL - $7,250,000
Amazing, Dramatic Penthouse In A Classic Vintage Building On East Lake Shore Drive! This Home Has Been Completely Renovated With Over 7400 Square Feet Of Luxurious Finishes And Offers Expansive Lake & City Views Plus 2 Terraces With 550 Square Fee...
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