Former GGP exec sells Gold Coast condo for fraction of original ask

The 6.2K sf condo on East Goethe Street was first listed in 2016

Chicago /
Jul.July 02, 2019 04:00 PM
65 East Goethe Street and Bernard Freibaum

65 East Goethe Street and Bernard Freibaum (Credit: GGP)

A former GGP executive sold his Gold Coast condo for a fraction of what he originally hoped to get for it.

Bernard Freibaum and his wife, Carol, dealt the condo at 65 East Goethe Street for $4.5 million, less than half the $9.1 million they sought in January 2016, according to Crain’s.

Bernard Freibaum was chief financial officer of GGP from 1993 to 2008.

Cook County records don’t say what the couple paid for the three-bedroom, 6,200-square-foot condo or when they bought it. Records show a $7 million mortgage on the property from 2008.

Phil Skowron of @properties had the listing. Public records doesn’t yet identify the buyer, who was represented by Katherine Malkin of Compass.

The Chicago-area’s ultra luxury market had a record-breaking year in 2018, notching more sales of $4 million or more than ever before. But overall luxury home sales of $1 million or more have plummeted so far this year. [Crain’s]John O’Brien


Related Articles

arrow_forward_ios
John Liew and Waldorf Astoria Residences (Chicago Booth, Google Maps)
Billionaire hedge funder buys at Waldorf Astoria
Billionaire hedge funder buys at Waldorf Astoria
3 West Burton Place (Photos via 3wburton)
Massive Gold Coast mansion hits market for $19M
Massive Gold Coast mansion hits market for $19M
1400 North Lake Shore Drive & ESG Kullen’s Eric Granowsky (Credit: Google Maps)
ESG Kullen lands big loan on priciest Chicago condo deconversion
ESG Kullen lands big loan on priciest Chicago condo deconversion
Marc Jacobs store at 11 E. Walton St., Marc Jacobs (Credit: Getty Images and Google Maps)
Another one bites the dust: Marc Jacobs closes Gold Coast location
Another one bites the dust: Marc Jacobs closes Gold Coast location
Corey Crawford and Hayden West Loop at 1109 West Washington Boulevard (Credit: Getty Images)
Corey Crawford ID’d as buyer of $4M Hayden West Loop condo
Corey Crawford ID’d as buyer of $4M Hayden West Loop condo
Clockwise from left: 1521 North State Parkway, 1040 North Lake Shore Drive, 65 East Bellevue Place, and 21 East Huron Street (Credit: Redfin)
Near North Side dominates Chicago’s 5 priciest resi listings
Near North Side dominates Chicago’s 5 priciest resi listings
Pilsen affordable housing development slammed as gentrification play, South Side beachfront property marketed to multifamily developers: Daily digest
Pilsen affordable housing development slammed as gentrification play, South Side beachfront property marketed to multifamily developers: Daily digest
Pilsen affordable housing development slammed as gentrification play, South Side beachfront property marketed to multifamily developers: Daily digest
Chicago’s most complex — and most expensive — condo deconversion deal hits another snag
Chicago’s most complex — and most expensive — condo deconversion deal hits another snag
Chicago’s most complex — and most expensive — condo deconversion deal hits another snag
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...