Beanie Baby mogul buys as-yet-unbuilt penthouse

Some people are more optimistic than others. Ty Warner, the publicity shy mogul behind the Beanie Baby empire, has signed on for a penthouse apartment in Chicago...that hasn't even been built yet.

Warner has signed a contract to buy the 10,000, two-story penthouse in a proposed luxury building known at the Chicago Spire. The original asking price for the suite was $40 million, but Warner probably got a better deal, considering the real estate situation at the moment. Construction of the building has been halted due to the emaciated real estate market and attendant economic woes, but none of that seems to bother Warner.

I suppose when you've built a multi-million dollar empire on little stuffed toys, you've got reason to believe the glass is half full. Also, Warner, who is on Forbes 400 richest Americans list, with a net-worth of some $4.4 billion, holds a lot of real estate, which has tied him over well as the Beanie Baby craze has ebbed. According to Forbes, he owns the Four Seasons Hotel in New York City and the Montecito Country Club in Santa Barbara, California, among other extremely hi-hat properties. No word on what he actually did pay for his new apartment. But then this is a guy who doesn't need no stinking mortgage.

Warner locked in the penthouse suite on floors 141 and 142, which promises 360-degree views of the city when completed. But these vaunted views are a long way aways. Although the building will be the tallest residential building in the world, So far, the developer of the project, Shelbourne Development, only has the foundation completed.

Still, a man can dream. And if anyone has the wherewithal to do so these days, it's Ty Warner.

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Jay

Greed has no bounds........even big named chefs like to put their hands in the till.

October 14 2010 at 12:05 PM Report abuse rate up rate down Reply
Dottie

I'm not surprised that this fat,ugly no-talent,boring chef is being sued. He likes his food TOO MUCH! He should take his stolen tips and buy new shoes!

October 14 2010 at 10:33 AM Report abuse rate up rate down Reply
Ed

I find this quite disturbing. When I tip a waiter I expect him to share the tip with the busboys and the Maitre'd with whom I have had direct contact. I don't expect the largest part, or any, of my tip to go to the bartender with whom I have no contact. If a wine steward is involved in my service, I would expect he would receive his proportionate share of my tip as well. I think it is incumbent upon the restaurant, any restaurant, to advise patrons if the wait staff is not receiving the bulk of the tip, as that is who ultimately earns my tip by the service they provide. Understanding what I do now from this article, my whole tipping philosophy will change. As an aside, I have eaten at Del Posto; great food, great service, great Maitre'd, great ambiance.

October 14 2010 at 8:35 AM Report abuse rate up rate down Reply
2 replies to Ed's comment
Mary

Ed, it's very presumptuous of you to 'expect' the waiter to 'share your tip with the busboys and Maitre'd'. Give me a break! Just tip and let them do whatever they do with it. You expect to be in on the inner workings of a restaurant because you gave a crummy tip?? Maybe you should go around and give each person a dollar that you think helped make your meal good. haaaa Get over yourself!

October 14 2010 at 10:51 AM Report abuse rate up rate down Reply
Eileen

Thanks Mary. Ed has an over inflated idea of himself and his tips. Hope he make the tips worthwhile. In year gone by in my area, and when I work banquets we signed on knowing that we got a FLAT FEE for our service. We never EXPECTED any more. People today want to get paind a bunch and do a little. I cannot see someone as well known as Mario being malevolence toward any of his workers. Ed the big word mean nastiness or meaness. Give us a break and get over yourself...

October 14 2010 at 12:09 PM Report abuse rate up rate down Reply