Having just agreed in early July to a five-year, $40 million contract with the Charlotte Bobcats, former Chicago Bulls forward Tyrus Thomas is moving to cut some remaining ties with the Chicago area, taking a huge loss on his two-bedroom condo in Northbrook.
Thomas recently sold it for $254,000, and two weeks ago listed his eight-room town home in Northbrook for $499,900.
A Baton Rouge, La., native, Thomas, 23, became a Bull in 2006 after completing his first year at Louisiana State University and entering the NBA draft.
The Bulls traded him to Charlotte in February.
After joining the Bulls, Thomas paid $379,500 in August 2006 for the new five-room condo in upscale Northbrook Pointe, developed by Cambridge Homes.
Features include an eat-in kitchen with granite counters, stainless steel appliances and a double oven, a separate dining area and a large laundry room.
By December 2006, Thomas decided to move on up, paying $598,000 for the eight-room Northbrook town home of his then-Bulls teammate Jannero Pargo.
He decided to hang onto the condo, renting it out "most of the time," said his listing agent, Barry Newman of Century 21.
On May 17, Thomas closed on the condo, which had been on the market for $269,000.
On July 2, Thomas placed the town home, which is in the Ivy Club development, on the market.
Built in 1998, the 2,426-square- foot town home has three bedrooms above grade plus another one below grade, 3 1/2 baths, a two-story living room, a dining room, an eat-in kitchen, a family room, an outdoor deck, a master suite with vaulted ceilings and his/hers walk-in closets, and a full finished basement with a separate rec room and a full bathroom.
"It's the most upgraded unit in the subdivision," Newman said.
Thomas had listed the town home sporadically over the last two years, asking $559,900 for it in November 2008, $549,900 in January 2009 and $499,900 in September 2009.
In all cases, Thomas, who for a time was living in an apartment in downtown Chicago, wound up taking it off the market, Newman said.
Thomas is set to take a major loss on the town home.
"It seems like everything sells today for a loss," Newman said.
That's all she wrote
Veteran TV soap opera writer Kay Alden is auctioning off her 4,700-square-foot, full-floor Streeterville condominium unit this month after unsuccessful attempts to sell the unit with a listing price of $1.95 million.
On July 27, Fine & Co. will conduct the auction at a hotel in Rosemont for Alden, who was the longtime head writer of "The Young and the Restless" and who now is the co-head writer of "The Bold and the Beautiful."
There is no minimum bid for the 25th-floor unit, but the suggested opening bid is $600,000.
The Daytime Emmy-winning Alden has owned the condo for three decades and has penned thousands of episodes from her home office.
Features in the four-bedroom unit include lake views, a 78-foot-long living room, media center, billiard and game room, music room, office, master suite with spa, sauna, steam room, rooftop deck and a gourmet kitchen with pear wood cabinetry, cork flooring, professional-grade appliances, wet bar and wine cooler.