Crate & Barrel co-founder Carole Segal has turned to house flipping in the Chicago suburbs, selling a 10,000-square-foot mansion in Winnetka, Ill., on Oct. 24 for $5.3 million — 23 percent less than the 2011 asking price and less than what the previous owners paid in 2005.
Although Segal paid only $4.475 million for the house in April 2008, that was more than five years ago. If she’d instead put that money into 36,000 shares of the S&P 500 index fund SPY, her investment would be worth $6.3 million today — plus she would have received $525,000 in dividends over that time.
Chicago Magazine figures that Segal lost money on the flip if she spent more than $825,000 rehabbing the property. Source: chicagomag.com
