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Joe Mansueto Acquires Land At 1331 South Wells Street Chicago From Curt Bailey And Nadhmi Auchi For $69M
SOLD
$69,000,000
Illinois
See Similar DealsLand
Sold 03/23/2026
SOLD
Joe Mansueto Acquires Land At 1331 South Wells Street Chicago From Curt Bailey And Nadhmi Auchi For $69M
1331 South Wells Street
See Similar DealsLand
Sold 03/23/2026
Summary
ILLINOIS
Asset Type:Land
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,679,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$245,142.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$327,095.20
Annual Debt Service$3,925,142.43
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