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Asset manager buys all 6 condos in building next to his Lincoln Park home

The cofounder of a noted Chicago alternative asset management firm and his wife have paid close to $3 million to buy all six condominium units in a vintage condo building next door to their Lincoln Park mansion.

In the late 1990s, Wolverine Trading cofounder Chris Gust and his wife, Susan, built a 6,226-square-foot mansion in Lincoln Park. And in late January, the couple paid $2.952 million to buy out the six separate owners of the six units in the building immediately to the north, which dates to 1889.

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The couple made all the purchases in private transactions, so none of the units was listed in the real estate multiple listing service. As a result, few details are available about the units they bought. However, in several cases, the couple clearly paid a premium to gain full control of the building. For example, they paid $525,500 to buy a second-floor unit that had sold for just $269,000 in 2012. Similarly, they paid $457,500 for a third-floor unit that had changed hands in 2013 for $310,000.

In a brief interview with Elite Street, Gust declined to comment on his family's plans for the building, which remains standing.

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Bob Goldsborough is a freelance reporter.

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