Custom Park Monroe home ideal for entertaining, and then there's the view!
The Park Monroe is almost sold out of the current penthouse homes. This breathtaking penthouse, purchased in 2010, could serve as an inspiration for customization of an available large space. | SUPPLIED PHOTO
Summer entertaining in downtown Chicago is unmatched because of all of the acclaimed restaurants, Millennium and Grant Parks, Lake Michigan, the museums and the culture.
Having a condominium that overlooks the exuberance of the city from every vantage point, and that is in the center of everything, is a dream come true for any buyer.
Now a unique opportunity is available to create a large, unique custom home with amazing views and incredible space for entertaining. The Park Monroe, at 65 East Monroe Street, less than a block from Millennium Park, is offering a limited-time opportunity to purchase and build out up to 10,000 square feet of custom living space on one floor.
Entertaining in a fully-customized, centrally-located home of this size is a very rare opportunity. There is almost no other development downtown that will allow a buyer to customize such a large space.
A buyer with a vision can transform the existing ductwork, windows and concrete floors, ceiling and exterior walls into something spectacular. Pappageorge Haymes, a renowned architectural firm, has developed a suggested floor plan, but a buyer could come in and start from scratch with their own design team.
The proposed plan, which is slightly less than 8,500 square feet, features an incredible living space for entertaining. The majority of windows face south, providing panoramic views of the lake, Grant Park and the Museum Campus, while the east and west exposures showcase Millennium Park and the city lights.
The layout also includes a 1,000-square-foot private terrace, which would be perfect for outdoor entertaining. Tucked into the side of the building, it allows for fresh breezes but protects from strong winds. Space in the floor plan is also allocated to a lavish home theater and fitness room, plus a luxurious master suite with large walk-in closet, three additional bedrooms with private bath, and a housekeeping suite.
A buyer desiring more space could add it along the east or west walls, while a buyer desiring less space could subtract, creating a floor plan of approximately 5,000 square feet. In addition to designing the ideal floor plan, a range of possibilities exists to select unique finishes, fixtures, cabinetry and appliances. Although the space is unfinished, walking through it and seeing the views is an eye-opening experience that awakens the imagination to the possibilities.
The ability to purchase such a large amount of space for customization will only be available through the summer and, come fall, may never be available again in downtown Chicago.
Rand Diamond, a partner at development-team member Glenstar Properties, said, “because of the high demand for penthouse homes and large spaces, we decided to offer this opportunity before we begin construction of our second phase.”
The Park Monroe has sold and continues to sell condominiums in the current real estate market, and now has less than 20 homes left in the first phase. Several large, duplex penthouses have recently sold in the $2- to $4-million price range. This success can be attributed to excellent location, views, amenities, floor plans and finishes, combined with competitive pricing.
The building contains some the finest upscale amenities in the city, including a terrace on the 49th floor that is ideal for summer entertaining. The terrace features barbeque grills, comfortable furniture and a whirlpool spa in a landscaped setting. Adjacent to the terrace are an entertainment suite with catering kitchen, large-screen DVD theater, an indoor lap pool and a fitness center.
The Park Monroe passed an important milestone at the beginning of this year, when control of the condo association was handed over from the developers to the residents. This change allows residents a stronger influence on how the building is run and is further evidence of the success and stability of The Park Monroe.
Additional residences still available at The Park Monroe range from two-bedrooms to three-bedrooms to two-story penthouses. Prices start in the mid $600,000s for east-facing two-bedrooms.
The models and sales center at 65 East Monroe are open seven days a week, and those interested can call (312) 855-0550 or visit ParkMonroe.com for more information.