Joe Mansueto Acquires Land At 1331 South Wells Street Chicago From Curt Bailey And Nadhmi Auchi For $69M

The asset involved in this transaction is land located at 1331 South Wells Street in the Chicago market. The transaction resulted in a sale price of $69,000,000. The land is a significant part of the ongoing development plans for The 78 area, aimed at activating a previously stalled 62-acre site along the Chicago River South Branch.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $69,000,000
• Buyer: Joe Mansueto
• Seller: Curt Bailey - Related Midwest; Nadhmi Auchi

Joe Mansueto's LLC facilitated the acquisition of the land, which is part of a larger $650 million development project for the Chicago Fire FC stadium. The stadium will serve as a centerpiece for Related's planned $8 billion mixed-use megadevelopment in the vicinity.