Pritzkers Purchase $12.1 Million Equestrian Estate In Florida

WELLINGTON, FL — A company linked to Governor-elect J.B. Pritzker spent $12.1 million to purchase a South Florida equestrian estate days before he was elected governor. The stables include 30 stalls, an oversized riding arena, a manager's apartment and an owner's lounge among its more than 27,000 square feet of buildings. The 6.44-acre Wellington, Florida, site was sold last week to 3 Flamingos, LLC, a Delaware-based company is managed by the brother of Pritzker's wife, M.K., and shares the same Chicago office address as the Pritzker Group.

The property is located beside the Palm Beach International Equestrian Center, site of the Winter Equestrian Festival, which county tourism officials describe as the largest and longest-running equestrian competition the world. (Mrs. Pritzker, who grew up riding horses in South Dakota, is a board member of the U.S. Equestrian Team Foundation.)

The Grand Prix Village facility was designed by "top horsemen" and was on the market for the first time since it was built in 2007, according to its listing. The total market value of the buildings and land for taxing purposes is $7.13 million, according to the Palm Beach County Property Appraiser's Office.

According to Forbes, Pritzker has a personal net worth of $3.2 billion, making him the richest elected official in the nation ahead of President Donald Trump. Pritzker's uncle founded the Hyatt Hotel chain, and Pritzker is a venture capitalist and philanthropist who founded the Pritzker Group with his brother.

Pritzker provided $171.5 million of the $176.3 million he raised during his campaign for governor. He defeated Republican Gov. Bruce Rauner, who earned the lowest share of the vote for an incumbent since 1912, when a three-way race involving Frank Funk of the Progressive Party meant no candidate topped 40 percent.

The precise number of Pritzker-owned properties has not been publicly disclosed. During the Democratic Party primary, Pritzker told WMAQ-TV he owned "three homes that I spend time in and then I own other investment properties in addition."

His estates include a 230-acre Racine, Wisconsin, horse farm, a Lake Geneva mansion purchased for $9.7 million in 2004, a recently built compound in the Bahamas and a Gold Coast property on Astor Street purchased for $14.5 million, prior to an estimated $15 million to $25 million worth of renovations.

The Chicago mansion is adjacent to the $3.7 million property declared uninhabitable due to the removal of toilets in what the Cook County Inspector General called a "scheme to defraud" the county out of more than $330,000 in property taxes. Pritzker's campaign said he returned the money last month.

The transaction, first reported by the South Florida Business Journal, was signed Nov. 2 and recorded Nov. 9, according to public records.

• Address: 3202 Grand Prix Farms Drive, Wellington, Florida
• Listing Price: $14 million
• Closing Price: $12.1 million on Nov. 8
• Square Feet: 4,170
• Lot: 6.44 acres
• Built: 2007
• Bedrooms: 1
• Bathrooms: 2 full, 2 half

• Features: The best available property for anyone wanting to own stables near the Winter Equestrian Festival. Located in Grand Prix Village, this barn was designed by top horsemen, and is available for purchase for the first time since it was built in 2007. There are 30 stalls, paddocks, world class riding arena, walker, manager's apartment, owners' lounge, office, commercial laundry, and much more! All within steps of the WEF show grounds., Professionally built custom oversized riding ring measuring 240 x 120 with state of the art footing made for grand prix jumping 76 feet around state of the art automatic covered hot walker with rubber flooring. Manufactured and installed by Roewer-rueb out of Germany. New flooring was installed in 2016. Walker holds 6 total horses and is a great alternative for exercise. 30 stall barn separated perfectly for owner occupied/rental income investment Barn flooring and stall flooring is heavy duty thick rubber flooring great for horses and non slip surface and is easy to clean and maintain looking great year after year All 30 stalls are equipped with Nelson automatic horse waterers. When the horse drinks the bowl auto fills back to full. 6 oversized grooming stalls with great overhead lights 4 outdoor covered wash stalls equipped with rubber flooring and designated drains per stall 2 private lockable air conditioned tack rooms great for storing your special tack Break.lunchroom with refrigerator and is air conditioned Men s and women s private air conditioned bathrooms Oversized air conditioned laundry room with commercial speed queen double washer and dryer Designated covered in the barn area for your horse treadmill, wired and ready for hookup 8 total oversized large outdoor paddocks 7 at 60 x 60 and one at 80 x 40 All stalls were manufactured and shipped from Norwich England by Loddon Engineering. New standing seam metal roof installed on the entire facility in 2016.

This listing originally appeared on realtor.com. For more information and photos, click here.