Page 2 - Crains - Gold Coast condo sells for $10.1 million, top price of the year to date 3.8.25

Credit: Jim Tschetter, IC360 Images

The couple put the condo, 5,400 square feet with an additional 1,700 feet of outdoor space on the top floor of a
contemporary building on Elm Street, up for sale in July, asking $10.8 million. The property found a buyer relatively
fast, going under contract after two months on the market, but the transaction took an additional six months to
close.

The agents for buyer and seller are not authorized to disclose non-public terms of the deal, such as why the closing
took so long.

Sharon O’Hara and Carrie McCormick represented the Carbonaris, and Emily Sachs Wong the sellers, who are not
yet identified in public records. All three agents are with @properties Christie’s International Real Estate.

The Carbonaris bought the condo when the building was new, paying $6.7 million for the entire 23rd floor as raw
space and taking out permits for an estimated $1.5 million buildout. That means their total investment was at least
$8.2 million. Permits cover only construction costs, not finishes.

Kate Carbonari told Crain’s in July that the buildout entailed reconfiguring a key pair of spaces, the living room and
the balcony it opens onto. They moved the wall between the two about five feet inside to enlarge what would have
been, she said, a “skinny balcony,” and made the wall, 12 feet high, all glass, including the French doors.

The result, seen in the photo at the top of this story, is a fluid pairing of indoor and outdoor spaces. The balcony
spans the south wall of the building, giving it panoramic views of the skyline to the south, as well as Lake Michigan
to the east and the city's neighborhoods spreading west.

"We were going to be here mostly in the summertime, so the outdoor space was very important," Kate Carbonari
said at the time. The condo also has terraces on the building’s northeast and northwest corners.

The condo is in a glassy contemporary building at Elm and State designed by the architecture firm SCB and
completed in 2016. It's seen in the image at the bottom of this story.

Continued…