Bill Rancic sells Park Tower condo for $1.425M

Posted Jan. 10 at 5:41 a.m.

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.

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  1. Amy Jan. 10 at 9:02 a.m.

    Why does the Tribune run this crap? Does anyone really care? It’s just a plug for the realtors who buy the ads in the paper.

  2. Johnny D Jan. 10 at 9:21 a.m.

    Who cares???? Didn’t this guys 15 minutes run out about 15 years ago?? Just goes to show you what type of a cowtown we really live in if this is the stuff that makes ink! Please, give us a break already!

  3. Reality Jan. 10 at 9:32 a.m.

    I have to echo the earlier comments. Rancic is two bit, D-list “celebrity” along with his attention whoring wife.

  4. ron Jan. 10 at 9:38 a.m.

    Jonny D, you obviously live under a rock and don’t leave cowtown much because every city has papers/sites that posts this crap. People are fascinated by celebs even when they take a crap. It’s really pathetic but not just a cowtown thing.

  5. nancy Jan. 10 at 11:08 a.m.

    So amazing that a guy that won a goofy reality show has made millions off of it and now his goofball wife is included – ugh

  6. CASEY Jan. 10 at 11:17 a.m.

    If you have ever seen the reality episodes, you would know that B & G come off as very polite, family loving, business savy people. No reason to attack. The show is mostly about their struggles to conceive wich has helped alot of people who are going through the same thing feel like they are not alone. It takes strength and courage to publicly talk about those things, let alone a national TV spot. Yes they are making money, but wouldn’t you? I care.

  7. ron Jan. 10 at 12:07 pm

    Btw, I don’t have anything against Bill and his wife or any celebrity for that matter. What I don’t care for is the media’s fascination with them and every other celebrity. So, the people who are hating on Bill and his wife are just jealous and ignorant. Don’t hate them, hate the media for obsessing about their evey move.

  8. Brooks Jan. 10 at 12:45 pm

    My wife and I love the show and both Bill and Giuliani seem like wonderful genuine people and they are not the typical reality TV show faux creatures. That said I agree with the commentator above, why is this news worthy? First off I am sure B&G don’t really want everyone to know about their business, second if someone needed to find out all of this information is a matter of public record and could easily do so therefore, the only people who benefit are the real estate agents. C’mon Tribune is this really news!

  9. The Real Truth Jan. 10 at 1:13 pm

    “Reality TV star Bill Rancic”

    Huh…I never heard of the guy.

    The way this story is written, you’d think it was about someone important.

    Why are people referring to this guy as a “celebrity”? He was on some reality show…hardly celebratory. “Celebrity” is such a disposable term (and “career”) now-a-days.

  10. PACIK Jan. 10 at 1:43 pm

    I think the exciting thing about this story is not who is selling the properties, but that the properties are selling and at a profit. Reason to celebrate!

  11. rudykzooti Jan. 10 at 1:58 pm

    Sold at a profit after “renovating it from top to bottom?” Maybe broke even, profit, doubtful

  12. Dave Jan. 10 at 2:22 pm

    Lots of jelous people here. The Guy won the Trump show. Sure it`s not the Greatest thing ever but it`s alot better than most of them shows. Also, This couple are decent people and make millions doing things they love and Bill Lives in Chicago. Just because your not intereted does not make it a waste of space.

    That said, I have only seen their show once but they seemed like down to earth people that truly loved each other and have good businesses. That belongs here.

  13. Dave Jan. 10 at 2:24 pm

    Oh and Cow town my AS*. What…. as opposed to Plastic LA? Uptight NYC? Cowboy Dallas? Traitor DC? Give me A Break.

  14. CEB Jan. 10 at 3:13 pm

    Well, it seems the Chicago Tribune has done their job.

    As much as nobody seems to care about Mr. Rancic, they care enough to click on the headline, read the article, and leave a comment.

  15. Tracy Kiernan Jan. 10 at 3:20 pm

    Puh-leeze! Bill Rancic? Seriously? This is news? Come on… Tribune! Give us real news! This guy is a has-been and on top of it, he’s not even nice when you meet/work with him in person. So what’s the allure?

  16. Maureen Jan. 10 at 4:41 pm

    BizWrap linked this story with the headline: Original “Apprentice” takes loss on Gold Coast condo. I don’t see how buying at $1.185 million and selling at $1.425 million is “a loss”. Did the renovations really exceed $235,000? Selling for less than the list price does not make a LOSS.

  17. rrob Jan. 10 at 4:57 pm

    Giuliana also appears on “Fashion Police” on E! with Joan Rivers – her job appears to be to laugh at Joan’s jokes. Nice work if you can get it….

  18. Amanda Jan. 10 at 5:41 pm

    great condo they just sold. i love giuliana and bill, they seem like such great people. i hope she gets pregnant soon

  19. Active Jan. 10 at 5:54 pm

    Why does the headline say “Original “Apprentice” takes loss on Gold Coast condo” when it looks like he made a profit?

  20. Danna Jan. 11 at 7:05 pm

    Congratulations Bill! Keep up the hard work-it pays off!!!