Former Motorola CEO Sells Condo

According to Dennis Rodkin and Deal Estate, Ed Zander has sold his Water Tower Place and his exodus of Chicago is complete. Ed Zander is the former chairman and CEO of Schaumburg-based Motorola, he and his wife lived shared a condo on the 67^th floor of the incredible Water Tower Place.

Zander bought the house in 2004 after he was brought in to replace the previous top guy at Motorola, Christopher Galvin. Reportedly, with a year left on his contract, the company and Zander parted ways in 2007 after they couldn’t climb out of the slump they were in following the immense success of the Razr phone. Enough about the phone business, the story is the beautiful condo that was recently sold.

With a wet bar, a large renovated kitchen and “more closets than you would ever believe in a city apartment,” it’s no mystery why the condo sold for $1.46 million dollars. What’s interesting is that’s actually a bargain at over $100,000 below the asking price. It is to be noted that the apartment was previously being rented out by Zanders at around $7,000 a month before ultimately being sold last month. Chicago real estate always amazes me and there is never a shortage of luxurious upscale properties. The listing agent for this property was Robyn Brooks. Any real estate needs, you can reach Brooks at 312-264-1249 or ribrooks@rubloff.com.

Source: Rodkin/Deal Estate/Chicago Mag