A Chicago-based company linked to billionaire J.B. Pritzker, the governor-elect of Illinois, bought an equestrian estate near West Palm Beach for $12.1 million.
The company, 3 Flamingos LLC, bought the 6.44-acre property in Wellington, which has 30 stalls, paddocks and a riding area.
Pritzker’s brother-in-law Thomas J. Muenster is the manager of 3 Flamingos LLC, and the limited liability company’s Chicago address is 111 South Wacker Drive, Suite 4000, the same address as the Pritzker Group, a private equity firm.
Pritzker, the founder of the private equity firm, was elected governor of Illinois on Nov. 6 after spending $171.5 million on his campaign.
His personal net worth is $3.2 billion, according to business magazine Forbes. Pritzker made a fortune from the Hyatt hotel chain. His uncle founded the Hyatt business and his father ran it.
Pritzker’s company 3 Flamingos LLC paid $1.87 million per acre for the estate at 3202 Grand Prix Farms Drive in Wellington, where billionaire Bill Gates and other wealthy owners have acquired equestrian properties.
Pritzker’s property in Wellington, built in 2007, has 27,224 square feet of buildings, including rental housing for staff. The property does not have a main house.
Jim Corbin of brokerage firm Illustrated Properties represented 3 Flamingos LLC in the Wellington property sale.
Amy Carr with the Wellington office of brokerage firm Engel & Volkers represented the sellers, John J. Fleischhacker and Daveanna R. Fleischhacker.
John J. Fleischhacker is the founder of a medical device firm in Minnesota called Daig Corp., which was acquired by St. Jude Medical. [South Florida Business Journal] – Mike Seemuth