Mike Jones Acquires Former Penthouse On North Lake Shore Drive In Chicago For $6.8M
1100 N Lake Shore Dr Chicago, IL 60611, USA
$6,820,000
$852/SF
Building Size
8,000 SF
Asset Type
Condo
Closing
Jun 23, 2023
About this deal
AI
Mike Jones has purchased a condo located at 1100 North Lake Shore Drive in Chicago. The property, previously owned by Jennifer McNeil Dhadwal of AECOM and Amit Dhadwal of PayPal, was sold for a total of $6,820,000. The condo spans 8,000 square feet, resulting in a price per square foot of $853.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $6,820,000
- Address: 1100 North Lake Shore Drive, Chicago
- Market: Chicago
Julie Busby of Compass represented Mike Jones in this deal.
It is worth noting that this condo unit was previously owned by Michael Jordan. The three-unit assemblage offers a total of 12 rooms, a rooftop deck, and is situated in a 40-story condominium tower. The sale of this property reflects the third highest-priced home sale in the Chicago area this year.
Players
Chicago Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
Loading comparables…
Deal FAQ
About $852 per square foot on a published $6.8M for 8,000 square feet (2023).
Visit Julie Busby to view all their deals.
Browse Illinois condo sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.33%
Cash-on-Cash
-0.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93