March 28, 2009 – Work on the ultra-luxurious Chicago condos in the Palmolive Building took a notoriously long time, with the renovation and customization of the 100 condos starting in 2003 and lasting several years. Chicago real estate developer Draper and Kramer has been in arbitration with Pepper Construction Group over a $28.6 million lawsuit filed in 2007. Draper and Kramer fired Pepper that year, contending that the company was taking too long to finish the work. Pepper then fired back with the lawsuit and the dispute hasn’t been settled yet.

But now D&K has filed a new lawsuit, this time against Booth Hansen, Ltd., who also did work on Palmolive. This is in response to claims made by Pepper Construction that their interior work was delayed because of Booth. According to a Crain’s report, D&K filed to be sure, “that Palmolive be entitled to judgment against Booth Hansen for any sum it is required to pay Pepper Construction and for its defense costs and expenses.” But if the arbitration finds in favor of D&K, chances are they won’t go after Booth.

In a celebrity note, you may remember that actor Vince Vaughn purchased the penthouse suite at Palmolive for about $12 million. And while you won’t be able to live there, you will be able to rent his high-end luxury townhome in River North. Rubloff is handling marketing for the four bedroom, 3.5 bath townhome and you can lease it for a mere $9,500 per month. If you want him to leave his furniture, it will cost a little extra. He originally bought the home in 2005 for $1.45 million and like his Palmolive condo, has no plans to sell.

If that is a little out of your budget, you can find plenty of other high quality Townhouses in Chicago.

[tags]Palmolive Building, Chicago Condos, Chicago Real Estate[/tags]

This entry was posted on Saturday, March 28th, 2009 at 5:25 pm and is filed under Uncategorized.