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penthouse in Streeterville's One Bennett Park has returned to the market with a significantly reduced price, reflecting broader challenges in downtown Chicago's luxury condo market. The 7,150-square-foot unit on the 66th floor is now listed for just under $7 million ($979 per square foot), down from its original asking price of $14.3 million ($2,000 per square foot) in 2019. Jameson Sotheby's International Realty and Related Midwest are managing the listing.

    The condo, one of three penthouse floors in the building, is being offered as raw space for the buyer to finish out. The reduced asking price highlights concerns about crime and a slow return to in-office work, which have reduced demand for high-end downtown condos. Other luxury properties, such as the St. Regis Tower and Tribune Tower, have also seen significant price drops.

    Even individual sellers are feeling the pinch, with some properties selling for losses. However, rentals remain in demand, and Related Midwest is moving forward with a 72-story apartment tower near the Chicago River. The unit's price cut is one of several recent reductions in downtown luxury condos, which may be a sign of a shifting market.