One St. Louis Condo Tower Is Worth More Than Whole City Neighborhoods

Today, just as it did in 1931, the unmistakable edifice of the Chase Park Plaza overlooks Forest Park as an entire city’s monument to refined living. The eight decades of history forever linked with the Chase now serve as prologue to yet another historic moment: the opportunity for the most prestigious address in St. Louis to become your permanent address.

This is the text in a slick hardcover book pitching “The Private Residences” at the Chase Park Plaza to prospective buyers a decade ago. In 2006, the owners of the property—a historic but shopworn apartment building that had come to symbolize the long decline of the city of St. Louis—embarked on a four-year, $80 million renovation to convert the upper floors into luxury condominiums. Few knew it at the time, but this was the height of the property bubble across the U.S., and asking prices for the new condos at the Park Plaza reflected this, ranging from $500,000 to well past the $4 million mark.