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.
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