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Lake Point Tower’s “Crown Jewel” Restaurant Up for Sale

Cité Chicago, the circular fine dining restaurant at the top of Lake Point Tower, is on the market for the first time in nearly half a century. Lee & Associates Illinois’ Rick Scardino has the listing.

“It’s time,” said owner Evangeline Gouletas, chairman and CEO of Skyline Equities. “I’m an urban, luxury, high rise real estate developer and there are many new projects ahead of me that require my focus.”
 
She added, “Remarkably, we can say there is not a restaurant in Chicago quite like ours. Cité is the ‘crown jewel’ of Lake Point Tower.”

Initially designed as an exclusive private club for the residents of Lake Point Tower, once the world’s tallest residential tower, the restaurant has since hosted the likes of Tom Cruise and Oprah Winfrey. Future uses for the 7,460-square-foot space could include another restaurant operation, a rooftop spa or a penthouse residence.

Pictured: Rendering of a residential conversion of the Cité Chicago space. Courtesy of JTS Architects.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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