CHICAGO-AREA TECH PIONEER, SANJAY SHAH, REACHES NEW HEIGHTS WITH ACQUISITION OF TRUMP INTERNATIONAL HOTEL & TOWER PENTHOUSE®, ONE OF THE TALLEST RESIDENCES IN THE WORLD
Founder and CEO of Hoffman Estates-Based Vistex, Inc.®, Closes Most Expensive Residential Real Estate Transaction in Chicago History
The penthouse property was sold to Shah for $17 million, and he plans to invest an additional $15 million to build out the intentionally unfinished space to custom specifications, bringing the total investment to well over $30 million, a record in Chicago history. Shah expects design and construction on the space to begin in 2015. No architect or interior designer has yet been selected.
What makes the dramatic Trump penthouse unique among other Chicago high–rise luxury apartments and condominiums is its exceptional vantage point — offering unparalleled 360–degree views of Chicago’s most popular landmarks including Navy Pier, Millennium Park, the Adler Planetarium, Willis Tower, John Hancock building, Soldier Field and Buckingham Fountain, and sweeping panoramic views of Lake Michigan. The space also features five bedrooms and eight baths, 16–foot ceilings throughout, floor–to–ceiling windows, and amenities including room service, valet service and housekeeping from Trump’s neighboring 5–star hotel, as well as access to the two–star Michelin–rated fine dining restaurant, Sixteen.
The Trump penthouse will be a second residence in Chicagoland for Shah, and he intends to use it for hosting Vistex clients and associates, as well as organizing events for the Vistex Foundation and Endeavor, the company’s charitable arms, which collectively focus on addressing education, health and humanitarian issues globally and in the Chicago area.
“We have lived in Chicago’s western suburbs for more than 20 years and intend to keep our family’s home rooted there,” said Shah. “As our two daughters are now high school and college age, my wife and I sought to find a special place for our family to enjoy, and also to use for my company and charitable efforts. Through my global work, I have spent a considerable amount of time in many other world–class cities, but none compare to our hometown of Chicago.”
Shah says he and his wife looked at a number of other residential properties over the past few years, but ultimately chose this penthouse not only because of the breathtaking views, but also because of the great reputation of the Trump Organization and unmatched quality of its properties located throughout the world. Donald Trump himself was an active participant in the transaction and said it marks yet another proud moment for his renowned organization.
“From the moment we began construction of Trump International Tower & Hotel, Chicago we knew the penthouse would be record breaking,” Trump said. “This iconic award-winning property continues to set the standard of luxury and quality in Chicago and beyond. I am pleased to see a successful American entrepreneur occupy the penthouse.”
Chezi Rafaeli, the Coldwell Banker agent representing the penthouse listing and the Trump International Hotel & Tower® in Chicago, said this was truly a history-making transaction.
“I have been working in the national luxury real estate market for decades, and have seen very few properties that are as exquisite as this one, so I knew it required an equally outstanding buyer,” said Rafaeli. “Upon meeting Mr. Shah and learning about his personal story and extraordinary success, it was very fitting that he would be the one to move into this special residence above the Chicago skyline. I am extremely proud to see Mr. Shah and his family make it their home.”
In early 1999, Shah independently founded Vistex, Inc., shortly after leaving software giant SAP. Vistex has been changing the face of the software industry ever since with cutting-edge marketplace solutions for some of the world’s biggest companies including Apple, Walmart, General Motors, Kraft Foods, General Electric, Kellogg’s, Nestle, Coca-Cola, 3M, Grainger, Bridgestone, Microsoft, Intel, DIRECTV and Paramount Pictures, among many other blue-chip names. Vistex’s proprietary Go–to–Market® technology currently serves 13 different industries including high-tech, industrial manufacturing, chemical, music, media and entertainment, life sciences, agriculture, retail, wholesale distribution, automotive and consumer products.
“Vistex solutions have been deployed on every continent,” said Shah. “Nearly anywhere in the world, when individuals go about their typical day, they are likely to interact with a brand that uses Vistex technology to reach and to sell to its customers.”
About Vistex, Inc.
Vistex was founded in 1999 to meet a marketplace need for software solutions that utilize data&ndsash;driven sales and marketing programs to drive consumer behavior, control costs and enhance corporate profitability. Vistex is the pioneer and global leader of the Go&ndsash;to&ndsash;Market Suite® of solutions, which offers distinct processes that manage pricing, incentive, rebate, royalty and channel programs, among other tactics, across 13 unique industries.
Vistex is headquartered just outside Chicago in Hoffman Estates, Ill., with offices around the globe including Germany, UK, Poland, India, Singapore, Brazil, Colombia and South Africa. Vistex employs more than 1,000 people, who represent the world’s best software developers, business analysts and program professionals.
The company is also making a tremendous impact for those in need throughout the world through its philanthropic activities. The Vistex Foundation focuses on global needs in the areas of health, education, food, shelter and disaster aid. Endeavor is the Vistex employee and Chicago&ndsash;based charity that builds bonds with the local community through volunteer opportunities, gift matching and grant making.
About Trump International Hotel & Tower
Trump International Hotel & Tower® Chicago, located in the heart of the city at 401 N. Wabash Ave., opened its doors in January 2008. The 92&ndsash;story property is one of the tallest residential buildings in the world, offering 486 luxury residences and 339 luxuriously appointed hotel condominiums. Located on floors 29 through 89, residential condominiums range in size from approximately 580&ndsash; to 14,000&ndsash;square&ndsash;feet and include studios, one- to three-bedroom plans and penthouses. Homes feature floor&ndsash;to&ndsash;ceiling windows that afford unparalleled views of the Chicago River, Lake Michigan and the city skyline, as well as gourmet kitchens, custom baths and state&ndsash;of&ndsash;the&ndsash;art appliances.
The Residences at Trump International Hotel & Tower Chicago offer a world-class living experience in which residents have full access to the property’s luxurious surroundings and 5-star amenities, which include Sixteen, a fine dining restaurant featuring modern American cuisine; The Spa at Trump®; the Trump Health Club; Rebar, a chic cocktail lounge; The Terrace at Trump; the Riverwalk at Trump International, a 1.2-acre three-level riverfront space; and more. The hotel was ranked #1 in Large Scale Hotels in the Continental U.S. and Canada and #20 in the World’s Best Hotels Overall category by Travel + Leisure’s 2010 “World’s Best Awards.” Travel + Leisure also awarded the hotel the #1 ranking in the Continental U.S. and Canada and #4 ranking in the world on its annual “World’s Best Service List.”
Designed by the noted architectural firm of Skidmore, Owings & Merrill, Trump International Hotel & Tower Chicago is a stunning addition to Chicago’s distinguished skyline.