Actor Vince Vaughn has reduced the price further on his five-bedroom, 12,000-square-foot triplex penthouse in the Palmolive Building on North Michigan Avenue, dropping his asking price late Sunday by $1 million to $13.9 million.
Vaughn, who has hired a new listing agent to market the property, also has placed the unit back in the real estate multiple listing service. Last year, using a different listing agent, he was informally shopping the penthouse for $14.9 million as a "pocket listing" that was not in the multiple listing service.
Sunday's price reduction is the latest in a series of price cuts by Vaughn, who first asked $24.7 million for the triplex penthouse when he listed it informally in 2011. He then publicly listed it in 2012 for $18.4 million and later that year cut his asking price to $16.75 million.
With his latest price reduction, Vaughn's asking price has moved much closer to the $12 million amount that he paid for the unit in 2006 through his VAV 2005 Trust.
The lowest floor of Vaughn's penthouse, which is the building's 35th floor, has sleeping quarters and a master suite. On the 36th floor are a foyer, a formal living area, a dining room and a kitchen with Verenna cabinetry, a butler's pantry, two built-in Sub-Zero refrigerators and a Wolf double oven and stove.
The penthouse's top floor has an entertainment space, including a media room, billiards and game room, full bar and the original office of Playboy founder Hugh Hefner when Playboy's headquarters were located in the building. Outside are three private terraces overlooking Michigan Avenue, the Oak Street beach and the Chicago skyline.
Listing agent Katherine Malkin of Baird & Warner declined to comment.
Vaughn owns other residential properties.
He continues to own a River North town home that he purchased in 2005 for $1.4255 million.
In the Los Angeles area, Vaughn paid $6.447 million in February 2014 through his ALB Trust to buy a 7,308-square-foot house in Manhattan Beach from former USC head football coach Lane Kiffin. In July, Vaughn paid $2.375 million through his Desert Retreat LLC to buy a 2,890-square-foot house in the Hollywood Hills from actress Kate Bosworth.
Vaughn previously had paid $3.925 million in 2013 for a five-bedroom, 5,563-square-foot house in La Canada Flintridge, an L.A. suburb.
