Apr
13

Former Bears QB Severs Ties with Chicago Real Estate

April 13, 2010

Rex Grossman has cut his losses with Chicago while taking a loss on those cuts.

Rex Grossman has taken a loss on Chicago real estate, including on the sale of this Lake Forest town home.

The former Chicago Bears quarterback sold his Lake Forest town home last week for $750,000 after paying $797,275 for it in 2005. Grossman first listed the the 2,714-square-foot house in 2008 for $1.025 million before dropping it to $990,000, $899,000 and then $849,000.

The town house, located at 115 S. Newport Court in the Stonebridge at Conway Farms development, has three bedrooms, three baths, a half bath, a fireplace and a first-floor office.

Grossman, 29, also recently took a loss on his condominium in Chicago’s Trump International Hotel & Tower. He bought the 3,437-square-foot unit in 2008 for $2.681 million, was dropped by the Bears less than a year later, and then sold the 36th-floor condo earlier this year for $2 million.

The quarterback signed with the Washington Redskins last month and will most likely play backup to newly acquired QB Donovan McNabb.

Grossman had been renting out his Lake Forest town home for $5,000 a month, but apparently just wanted to be done with real estate in our fair city.

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