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1500 North Lake Shore Drive

David & Catherine Hamilton Sell Wrigley Family Former Residence In Chicago For $4.5M With Millie Rosenbloom - Baird & Warner
SOLDCondo

David & Catherine Hamilton Sell Wrigley Family Former Residence In Chicago For $4.5M With Millie Rosenbloom - Baird & Warner

1500 North Lake Shore Drive

$4,500,000

$450/SF

Building Size

10,000 SF

Asset Type

Condo

Closing

Feb 1, 2024

AI

A nine-bedroom residence located at 1500 North Lake Shore Drive in Chicago has been sold for $4.5 million. The property, previously owned by the Wrigley family, was listed for nearly eight years and underwent price cuts totaling $9 million. The Gold Coast residence was initially listed for $13.5 million in 2016 by the sellers, David and Catherine Hamilton. The transaction was facilitated by Millie Rosenbloom from Baird & Warner.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $4,500,000
  • Square Footage: 10,000
  • Price per Square Foot: $450
  • Address: 1500 North Lake Shore Drive, Chicago
  • Market: Chicago

The sellers, David and Catherine Hamilton, enlisted the services of Millie Rosenbloom from Baird & Warner as their listing agent. The property, which features lavish amenities and nine bedrooms, finally found a buyer after being on the market for nearly eight years and undergoing significant price reductions. Despite the initial list price of $13.5 million, the residence ultimately sold for $4.5 million.

Players

Millie Rosenbloom

Baird & Warner

Broker

$20.7M

vol

6 deals

Broker

Chicago Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.53%

Cash-on-Cash

-1.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93