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Chicago & Midwest   /   July 27, 2020

Paul Bubny
By: Paul Bubny

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.

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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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