CEO purchases Chicago's Trump Tower penthouse for $17M

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CEO Purchases Chicago's Trump Tower Penthouse for $17M

It's being called the most expensive residential sale ever in the city of Chicago.

Millionaire Sanjay Shah just forked over $17 million in cash for the Trump International Hotel & Tower penthouse.

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CEO purchases Chicago's Trump Tower penthouse for $17M
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CEO purchases Chicago's Trump Tower penthouse for $17M
Sanjay Shah, founder and CEO of Vistex, Inc., makes history with his purchase of the Trump International Hotel & Tower penthouse on Monday, December 8, 2014 in Chicago. (Photo by Barry Brecheisen/Invision/AP)
From left, realtor Chezi Rafaeli and Sanjay Shah, founder and CEO of Vistex, Inc., make history with Sanjay Shah's purchase of the Trump International Hotel & Tower penthouse on Monday, December 8, 2014 in Chicago. (Photo by Barry Brecheisen/Invision/AP)
Sanjay Shah, founder and CEO of Vistex, Inc., makes history with his purchase of the Trump International Hotel & Tower penthouse on Monday, December 8, 2014 in Chicago. (Photo by Barry Brecheisen/Invision/AP)
Sanjay Shah, founder and CEO of Vistex, Inc., makes history with his purchase of the Trump International Hotel & Tower penthouse on Monday, December 8, 2014 in Chicago. (Photo by Barry Brecheisen/Invision/AP)
Sanjay Shah, founder and CEO of Vistex, Inc., makes history with his purchase of the Trump International Hotel & Tower penthouse on Monday, December 8, 2014 in Chicago. (Photo by Barry Brecheisen/Invision/AP)
Trump International Hotel and Tower is seen along Chicago River Friday, Nov. 8, 2013, in Chicago. (AP Photo/Kiichiro Sato)
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"I like to call it the 'Crown Jewel of Chicago," Shah told WBBM.

"It is just the most beautiful view," Shah's wife, Hemali Shah, said.

"What makes this home unique is the 360-degree view of the city, with 16-foot-high floor-to-ceiling windows throughout," WMAQ reporter Kelly Kane said.

At the moment, the penthouse is just a shell, meaning it consists of 14,000 square feet of concrete floors and drywall.

According to the floor plan provided on Trump Tower's website, the penthouse has five bedrooms and seven bathrooms -- and it sounds like Shah got the real estate for a steal.

The Chicago Tribune reports it was originally listed for $32 million when it was put on the market two years ago.

Still, that $17 million sale puts Shah ahead of billionaire Ken Griffin who used to hold the title of owning the most expensive residential property in the city.

In 2012, Crain's Chicago Business reported Griffin bought a condo in the Park Tower for $15 million.

Shah is the founder and CEO of the technology company Vistex. He told the Chicago Tribune the company's annual revenue is close to $200 million.

Shah won't actually be living in the penthouse. He owns multiple residences, and the penthouse will be used for clients coming into the city.

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