Trading Card Mogul Sells Magnificent Mile Duplex for $5M

Trading card mogul Matthew Bayer sold his duplex at One Magnificent Mile for $5.1 million on Thursday, taking a nearly $1 million drop from its asking price when it debuted last year.

The two-floor, 9,000-square-foot condo on the 46th and 47th floors of 950 North Michigan Avenue has six bedrooms and 11 bathrooms. Designed by Wheeler Kearns Architects, the duplex underwent a major remodel last year, according to the listing. The home features a great room with a wet bar and wine storage room that connects to a private terrace. It has wellness and recreation rooms on the upper level.

The building is located at the border of the Gold Coast and Streeterville, on the north end of the popular Magnificent Mile shopping district.

Bayer and his wife, Joyce, listed the condo in September for just under $6 million, then dropped the price to $5.5 million on Jan. 26, listing records show, before going under contract in March. Homeowners association dues for the condo run $13,019 a month, according to the listing.

Bayer is the CEO of Bridgeview-based MJ Holding Company, a distributor of trading cards, toys, games and collectibles to retail locations across North America, according to its website.

Ryan Preuett and Tim Salm of Jameson Sotheby’s International Realty had the listing. They did not respond to a request for comment. Property records that could indicate the buyer are not yet available.

The Bayers bought the condo in two stages between 2010 and 2014, for a combined $2 million, property records show. The couple paid $14.25 million in 2024 for a 15,000-square-foot Lincoln Park mansion at 400 West Dickens Avenue, The Real Deal previously reported.

The sale lands in a downtown condo market that is seeing an uptick in activity after years of lagging prices and slow sales. It’s the third downtown condo to sell for more than $5 million so far this year. The others were a unit at the St. Regis Chicago that sold for $5.4 million and the condo of financier David Herro in the Palmolive Building that sold for $5.5 million, both in March.