When the 95-story Vista Tower is completed in 2020, it will be the third-tallest building in Chicago, and at its very top will be a 7,000-square-foot duplex penthouse, currently offered for $17.1 million. If it sells, the penthouse would just barely eke out an all-time record for Chicago’s most expensive residential real estate. (A penthouse on the 89th floor of the Trump Tower sold for $17 million in 2014, after its price was halved from the original listing price of $32 million.)
Given Chicago’s current housing market, the penthouse’s price tag might seem steep—the only comparably priced listing is a 12,000-square-foot Gold Coast mansion, according to Trulia real estate company. But consider that $17.1 million is just 0.05 percent of the personal net worth of Wang Jianlin, the building’s co-developer and, not coincidentally, Asia’s richest person.
Bloomberg Billionaires estimates Jianlin’s net worth at $31.7 billion; his corporate conglomerate, Dalian Wanda, has been on a multiyear, global buying spree, sweeping up AMC Entertainment Holdings for $2.6 billion, the Hollywood production company Legendary Entertainment for $3.5 billion, even the organizer of the Ironman triathlons for $650 million. For the Vista Tower project, Dalian Wanda partnered with Chicago-based Magellan Development.