Understanding luxury markets is what makes luxury marketing successful. Reading the signs that the luxury market is strong Chicago’s Trump International Hotel and Tower announces the launch of the top-floor penthouse apartment at $32 million. This property is America’s tallest home a luxury marketing selling point.

Named for its billionaire developer-turned-political commentator Donald Trump, the mixed-use luxury condo and hotel high rise is the Western Hemisphere’s tallest residential building, making its 89th floor apartment America’s highest home. Not only that, with a $32 million price tag, the lofty abode is now the Chicago areas’s most expensive publicly listed home for sale and one of the most expensive listings ever to grace the Multiple Listing Services in the Midwest.

The last time a Midwestern home asked that much was the La Grand Reve estate in the suburb of Winnetka, which debuted at $32 million in 2009 before ultimately heading to auction for markedly less last fall. Currently only one estate is asking even close to as much as the Trump penthouse and that’s basketball great Michael Jordan‘s $29 million Highland Park home.

“There really is nothing comparable to this property in Chicago or the United States:  It is one of the largest condominiums all on one floor, which makes it very desirable,” says Chezi Rafaeli, an agent with Coldwell Banker Gold Coast and the Trump penthouse’s listing broker. Rafaeli admits that the listing was fueled by other record-breaking sales across the country, most recently the $90 million plus sale of the yet-to-be-built top floor penthouse in New York City’s One57. “Sales have lead to a limited amount of inventory in high end properties and the market has picked up so the seller believes this is the best time to sell the penthouse.”

The palatial pad encompasses 14,260 square feet of living space that includes five bedrooms, seven bathrooms, a media room, an exercise room, a study, a sitting room and a gallery for displaying artwork.  The spread offers 360-degree views of the city and nearby Lake Michigan from floor-to-ceiling windows spanning 16 feet in height. ”When you first enter the unit, you are immediately drawn to the spectacular views afforded by the expansive wall of curved glass, and no matter where you are within the unit, you have stunning views from all directions,” explains Rafaeli.

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