Office of Penny Pritzker picks up Lincoln Park mansion
Real estate scion and former Secretary of Commerce lives nearby
The office of PSP Partners, where Chicago native and real estate scion Penny Pritzker is chairperson, has picked up a Lincoln Park mansion for $6.5 million.
Located on North Kenmore Avenue, the 5,800-square-foot home was purchased in May, according to Cook County records. The property was constructed in 2016 on an approximately 6,000-square-foot lot, which is double the size of the city’s standard lot, Crain’s reported.
Pritzker and her husband, Bryan Traubert, have reportedly lived on nearby Orchard Avenue since the early 2000s, when an entity owned by the Pritzker family spent $7 million to purchase several lots on which their house was built.
That home is just eight blocks from the North Kenmore address, which fetched the seventh-highest price for a Chicago-area house this year, and the fourth-highest in the city, according to Crain’s.
Penny is reportedly one of 11 billionaire heirs to the Pritzker fortune, started with the founding of the Hyatt hotel chain. She was Secretary of Commerce during the Obama administration; her brother, J.B. Pritzker, is governor of Illinois.
Crain’s reports that Pritzker and Traubert have pledged $100 million to Chicago’s South and West sides through neighborhood improvement proposals. [Crain’s] — Orion Jones