It has been revealed that it will cost an additional $15million (£9.5million) to transform the raw space into a swanky pad on the skyscraper’s 89th floor.

The Trump International Hotel and Tower penthouse was purchased by Sanjay Shah, founder and chief executive of Vistex, and is believed to be the most expensive residential purchase in Chicago's history. 

The 46-year-old, whose tech company is headquartered in a Chicago suburb, scored a deal on the 14,260-square foot property, which had an asking price of $32million (£20million).

Situated at the top of the 16th tallest building in the world, the penthouse has spectacular views of Lake Michigan and Chicago’s famed skyline, which features Willis Tower, America’s second tallest building at 1,451ft.

Inside, the penthouse has a reception room with a footprint of nearly 1,300-square feet, a 1,122-square foot master bedroom, five fireplaces, an exercise room and a media room. 

Mr Shah, a married father of two who was born in India, told the Chicago Tribune that the penthouse will act as a second residence for his family and it will be used to host events for his company and philanthropic efforts.

He said: ‘I've travelled all around the world, but just in terms of the architecture, even if you go to New York, there are other high-rises, but nothing quite as exotic as this.

‘You can view every single landmark the city has. I think that's what appealed to me most about it.’

(dailymail.co.uk)