Alec Peters sells River North condo for $1.1 million

By: Basketball Insiders 

Former Phoenix Suns forward Alec Peters sold his River North condo for $1.1 million. According to the Chicago Tribune, Peters sold his two-bedroom, 1,375-square-foot unit on the eighth floor of an 11-story building in Chicago on July 29.

In 2019, the Valparaiso product paid $1.23 million for the condo. Two years later, he put his place on the market for $1.32 million in February 2021.

Then, he dropped the list price to $1.29 million during the summertime. Of course, months later in November, he then decided to take it off the market.

Additionally, Peters lowered the asking price to $1.2 million in April 2022. Per tax records from 2020, the property tax cost two years ago came to $27,506.

Based on tax information retrieved from Rosenfeld Injury Lawyers, LLC, the average property tax cost in Chicago in 2021 was $2,867 per year. This was for homeowners.

As of 2022, per Direct Tax Loan, the median yearly property tax in Chicago is now $3,820. The median home value is $246,500. So, Peters’ apartment house is a rare exception.

Alec Peters sells River North condo for $1.1million

His former unit has two-and-a-half baths, a Bosch refrigerator, a long balcony, an Asko dishwasher and quartz countertops. The bedroom includes a bathroom and a walk-in closet as well.

Listing agent Rafael Murillo of Compass told the Chicago Tribune, “He enjoys spending his summers in Chicago during the offseason.”

“However, it didn’t make sense to keep a place full-time with him playing abroad in Europe,” continued Murillo. “I think moving forward he will just find a short-term rental for the summer.”

The large building — constructed by Belgravia Group in 2017 — also features a rooftop lounge and a fitness center. Though, only the wealthy could afford one of these units. That should go without saying.

While Chicago has a high crime rate, River North is not a bad place to live.

Peters struggled to sell his apartment home at first, but it was only because he wanted $1.32 million for it in February 2021. Now, the Washington, Illinois, native is focused on playing with Olympiacos of the Greek Basket League.

Last season, while with Saski Baskonia of the Liga ACB, the forward averaged 10.7 points, 5.9 rebounds and 2.2 assists per game in 17 appearances.

In the EuroLeague, Peters averaged 9.8 points, 3.8 rebounds and 1.3 assists in 12 games played. He also shot an impressive 52.3% from the field.

During the 2017-18 season with the Suns, in 20 appearances, Alec Peters averaged 4.1 points and 1.9 rebounds per game. Plus, he shot 37.8% from the floor and 31% from 3-point range.

Peters could return to the NBA in the coming months. Injuries affect starters and bench players every basketball season. It could open the door for his return to the league.