In September of 2008, Rex Grossman felt sufficiently comfortable as the Bears’ quarterback that he bought a condo in Donald Trump’s downtown Chicago high rise. That turned out not to be a great idea.
Grossman, now a backup with the Redskins, would have been better off renting, not buying, in Chicago. By 2009 the Bears had said farewell, and early this year he decided to sell the condo that he had purchased for $2.68 million at a $680,000 loss.
Crain’s Chicago Business reports that Grossman ended up with a 25 percent loss on the 36th-floor two-bedroom condo.
It’s another reminder, in the wake of the Mark Brunell bankruptcy, of how quickly players who make millions of dollars can lose that money.