Purchаse occurs one month after Coby White inked a new contract with the Bulls, a three-year, $40 million agreement. White is relocating to Chicago.
A source acquainted with the transaction claims that the NBA point guard bought a house on North Cleveland Avenue in a deal that is scheduled to finalize on Monday.
With six bedrooms and seven bathrooms, the 7,000-square-foot house was listed for $5.1 million. It’s uncertain if the property will close for the asking price, more, or less.
Constructed in 2017, the residence seems to be owned by a trust associated with Rajeev Rathi, the originator of Merrill Lynch’s Rathi Private Wealth Management Group. In 2014, the trust paid $1.5 million for the land.
The listing is being represented by Carrie McCormick, a broker with @properties Christie’s International Real Estate, who did not reply to a request for comment. A request for comment from CAA Sports, the agency that represents White, was not answered.
In the same Cleveland block as White’s new residence, there’s another expensive offering that shows how sought-after Lincoln Park has grown since the epidemic drove up real estate prices. Cleveland Avenue house 6,800 square feet, six bedrooms, seven bathrooms, listed by @properties Christie’s agent Emily Sachs Wong for $4.9 million.A block west on sought-after Mohawk Street, a well-known buyer of upscale real estate is hoping to strike a deal for $8.2 million at the former residence of businessman, philanthropist, and billionaire Ken Griffin’s ex-wife, Anne Dias.
About a month after the point guard inked a new three-year, $40 million contract with the Bulls, White was acquired.Before being chosen as the seventh choice in the first round of the draft, he spent one season playing at the University of North Carolina.
Not just White, but several Bulls players have recently made purchases in the area. Almost a year after joining the team, center Nikola Vucevic purchased a house in Lincoln Park last year.
Vucevic, who was moved by the Orlando Magic to Chicago in early 2021, paid $4.8 million in June 2022 for the Deming Place residence, which is 5,345 square feet and has six bedrooms.