Jennifer Pritzker plans exit from single-family market

Pritzker's former B&B at 1622 Forest Place is now on the market for $5.2 million.

Billionaire Jennifer Pritzker, who bought several homes in Evanston over the past several years and turned two of them into bed and breakfasts, has put her properties here on sale in a move a spokesperson says represents a shift for her to the commercial real estate market.

Chicago Business, in a story today, quotes Theodora Gerber of Pritzker's Tawani Enterprises as saying "we are changing our strategy to focus on multi-family and commercial properties."

Last month Pritzker sold one property in Evanston, a home at 1629 Judson Ave., for $1.215 million, just a shade more than the $1.2 million she'd bought it for in 2012.

A Pritzker property at 2437 Sheridan Road is under contract with a contingent offer. It has been listed for just under $1.6 million, cut from $2 million when it first went on the market a year ago. Pritzker acquire it for $1.7 million in 2014.

Two other Pritzker properties in Evanston have just gone on the market:

  • 1622 Forest Place, the former Stone Terrace bed and breakfast, listed at $5.2 million, acquired for $2.8 million in 2012.
  • 300 Church St., the former Stone Porch bed and breakfast, listed at $4.2 million, acquired for $2.25 million in 2012.

Pritzker is also trying to unload a vacant jumbo three flat at 3726 N. Lake Shore Drive in Chicago, priced at $4.8 million, acquired for $8.75 million in 2016; a townhouse on North State Parkway in Chicago, purchased in 2014 for $1.75 million and now listed for $3.95 million, and a recently rehabbed mansion in Winnetka's Indian Hill Club, listed at $3.85 million and acquired in 2015 for $2.8 million.

Pritzker, a cousin of Gov. J.B. Pritzker and of former U.S. Commerce Secretary Penny Pritzker, has assets worth $1.9 billion, according to Forbes.

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