ELITE STREET | By Bob Goldsborough | Reality TV star Bill Rancic, the Chicago entrepreneur, motivational speaker and real-estate developer who won the first season of Donald Trump’s
reality show “The Apprentice,” has sold a five-room condo unit in the Park Tower building on North Michigan Avenue for $1.425 million, less than 20 months after he paid $1.185 million for it.
Rancic, who now stars with his wife Giuliana in the Style Network reality show “Giuliana and Bill,” closed on Friday on the sale of the approximately 2,000-square-foot, 50th-floor unit, which he renovated “from top to bottom,” according to listing information.
Features in the two-bedroom unit include 2-1/2 baths, a fireplace, ebony wood floors and electric blinds.
Rancic listed the unit last April for $1.65 million and later reduced its asking price to $1.499 million. Chicago magazine reported in July 2009 that Rancic had outbid four other bidders to buy the condo, which had been in foreclosure.
Rancic, 39, has dealt two other high-priced area properties in the last 22 months. Last April, he paid $1.56 million through his GDP LLC company for a seven-bedroom, 12,000-square-foot mansion in Hinsdale that was featured in episodes of “Giuliana and Bill.”
And in March 2009, Rancic, through his GDP LLC company, unloaded a Gold Coast row house for $3.595 million, less than 21 months after he had paid $1.5 million for it, subsequently renovating it.
Rancic’s listing agent for the Park Tower unit, Laura Rubin of Baird & Warner, declined to comment on the sale.
The buyer of the Park Tower unit has not yet been identified in public records.