An inheritor to the Crimson Bull model fortune may give wings to Chicago’s challenged Gold Coast mansion market.
A six-bedroom, nine-bathroom property at 52 East Bellevue Place that spans just below 10,000 sq. ft was listed for $7.9 million on Monday.
Jiravat Yoovidhya, the son of the vitality drink’s founder Chaleo Yoovidhya, who died in 2012, purchased the property for $7.5 million in 2017, Prepare dinner County property data present. Jiravat’s spouse Supatra Yoovidhya can also be listed as an proprietor.
Grace Sergio of @properties Christie’s Worldwide Actual Property has been tapped to market the property.
The couple seems to be shifting on from the Gold Coast, the place sellers have struggled to get well the money they’ve put into their properties lately.
Stagnancy has outlined the Gold Coast as of late. Many properties listed within the space for $4 million or extra have sat in the marketplace for greater than 100 days — whereas properties in Lincoln Park have been faster to promote.
But the luxurious market on Bellevue Place has not too long ago grow to be an outlier by drawing consumers extra shortly. Two high-end mansion gross sales have closed within the neighborhood in current months, and each of them are on smaller heaps than the Yoovidhya’s residence, in accordance with Serigo and public itemizing knowledge.
They embody an almost $5.7 million sale of 69 East Bellevue that closed in February after the 2022-built residence was initially listed final 12 months for $6.1 million; in addition to a $4.9 million sale of 105 East Bellevue that closed this week, after it was initially listed for lease at $26,000 per thirty days on February 22. It final offered for $4.8 million in 2020.
“The Gold Coast is getting stronger and stronger as evidenced within the final two current closings,” Sergio stated.
She didn’t disclose why the Yoovidhyas are promoting, however is boasting concerning the residence’s leisure capability, 5 out of doors decks, together with a rooftop and a high flooring deck with a fireplace pit and two grilling stations, plus three moist bars.
In response to the itemizing, the mansion was inbuilt 1885 however was gutted and rehabilitated in 2016 by Noah Properties. Such an enterprise will not be unusual on the Gold Coast.
Patrons are typically extra enchanted by the world’s historic standing as the house of Chicago’s strongest folks, however many high-end residence consumers have shifted their focus to Lincoln Park in addition to extra fashionable, new properties in neighborhoods equivalent to Bucktown lately.
