Former Chicago Bears quarterback Rex Grossman has sold his Delray Beach, Florida, home for $7.5 million. The property, located on the Intracoastal Waterway, was purchased by Grossman and his wife, Alison, in 2013 for $2.7 million. The sale marks a significant increase in value, attributed to a strong Florida real estate market.
Key Takeaways
- Rex Grossman, former Bears QB, sold his Florida home for $7.5 million.
- The property features 210 feet of Intracoastal Waterway frontage.
- The sale price represents a substantial profit from the 2013 purchase price of $2.7 million.
A Waterfront Gem
The four-bedroom, approximately 4,100-square-foot home, built in 2000, sits on a point offering water views on two sides. Its modern Mediterranean exterior complements an interior designed to maximize natural light and scenic vistas. The residence boasts a two-story living room with a wood-beamed ceiling, a kitchen with an integrated casual dining area that opens to an outdoor space, and a primary bedroom with a balcony overlooking the waterway. The property is further enhanced by an outdoor pool and mature palm trees.
Market Appreciation and Buyer
The Grossmans initially listed the property in April for just under $7.73 million. Real estate agent Derek Barra, who represented the property with Chris Scoppettone of Douglas Elliman, noted the "hot" market in South Florida as a key factor in the property’s appreciation. The sale price was approximately two and a half times their initial investment. The buyer, identified as Michael Manning, was also represented by Barra and Scoppettone. It remains unclear if there is any relation between the buyer and former NFL quarterback Peyton Manning.
Grossman’s Real Estate History
During his tenure with the Bears, Grossman purchased a Lake Forest home in 2005 for $797,000, which they later sold in 2010 for $750,000. They also owned a condo in Chicago’s Trump International Hotel & Tower, bought in 2008 for $2.68 million and sold in 2010 for $2 million. Rex and Alison Grossman currently own a nursing-placement firm, Florida Medical Staffing, based in Delray Beach.
Sources
- Ex-Bears QB Rex Grossman sells $7.5 million Florida home, Crain’s Chicago Business.