Overview

The property consisted of over 400 acres with a 10,000-square-foot home. Although zoning permitted five-acre lots to be developed, the owners had restricted future development with a conservation easement that limited the subdivision to only nine parcels.

Situation

Members of the A&G SRES team were retained to sell this 400-acre equestrian estate by the Trust Department at JP Morgan Chase in order to find the broadest market possible to maximize price.

Strategy

Our team designed an extensive eight-week sealed-bid, marketing, and PR campaign, which produced 12 bids on the property.

Results

The property was sold to the highest bidder for $19,300,000, which was the second-highest priced home sold in Cook County until 2014.