T
ech mogul Michael Krasny has acquired a luxury condo in Chicago's Lincoln Park neighborhood, paying $5.1 million for the 5,200-square-foot unit on Lakeview Avenue. The sale price works out to $985 per square foot, slightly below the property's original listing price of nearly $5.4 million or $1,043 per square foot. Krasny was represented by Linda Levin of Jameson Sotheby's International Realty, while Tere Proctor of @properties Christie's International Real Estate handled the sale for sellers Michael and Deborah Szymanczyk.

    The condo has a storied history, having previously been owned by billionaire Nicholas Pritzker, former president of Hyatt Hotels Corporation. Pritzker purchased the property in 2012 for $4.16 million or $803 per square foot before selling it to the Szymanczyks in 2013. Michael Szymanczyk is a former chairman and CEO of Altria Group, the parent company of Philip Morris.

    Krasny's latest real estate move comes after he sold his Highland Park home for $3.53 million last year. The tech entrepreneur has an estimated net worth of $1.3 billion, according to Forbes. He founded Computer Discount Warehouse in the 1980s and grew it into a dominant player in the personal computing market before selling it to Madison Dearborn Partners for $7.3 billion in 2007.