Joe Mansueto Acquires Land At 1331 South Wells Street Chicago From Curt Bailey And Nadhmi Auchi For $69M
1331 South Wells Street
$69,000,000
Building Size
—
Asset Type
Land
Closing
Mar 23, 2026
About this deal
AI
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.
Players
Chicago Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93