Housing Crisis Over!
- Former Mayor Richard Daley has sold his longtime Near South Side town house to his daughter and her husband.
Property records show Daley sold the 3,040-square-foot home in the 1400 block of South Prairie for $750,000 on Sept. 13. The buyers were daughter Nora and her husband, Sean Conroy, vice president at Grosvenor Capital Management.
Records further show that Daley’s family trust provided a mortgage of $739,557 to the buyers.
The former mayor and his late wife, Maggie, bought the four-level unit in 1993 for $410,000 from MCL Cos., the developer of the project in the Central Station complex.
A profit of $340,000 during the worst housing downturn in history. And sold to a Daley with a mortgage from the Daley family trust.
Must be some accounting trick we never heard of.
Labels: sarcasm AND silliness