Rush Street Gaming Co-Founder Greg Carlin Lists Chicago Home for $7.3M

Posted on: May 3, 2024, 02:33h. 

Last updated on: September 22, 2024, 01:15h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.

The co-founder of Rush Street Gaming has listed his Chicago home in the Lincoln Park neighborhood for more than $7.3 million.

Rush Street Greg Carlin Illinois Chicago home
The co-founder of Chicago-based Rush Street Gaming is selling his Lincoln Park house at an asking price of $7.35 million. Greg Carlin departed Rush in October 2022 and has since purchased two casinos in New Hampshire. (Image: Positive Image)

Greg Carlin co-founded Chicago-based Rush in 2012 with billionaire Illinois businessman Neil Bluhm. Bluhm amassed his fortune through JMB Realty, a privately held real estate investment company, and his private equity firm, Walton Street Capital.

Bluhm’s venture into the gaming business with Carlin has also been a success. Since 2012, Rush Street Gaming has developed and opened five Rivers-branded commercial casinos, including two in Pennsylvania, one in New York, one in Virginia, and one in Illinois. Rush additionally has a digital iGaming and sports betting unit called BetRivers through the subsidiary Rush Street Interactive.

Rush made Carlin extraordinarily wealthy, too. Along with his wife, Marcy, the Carlins purchased the Lincoln Park home at 2325 N. Cleveland Avenue for $5.7 million in 2007. The Carlins are seeking to make a considerable profit, with the 7,900-square-foot historic residency on the market for $7.35 million.

Big Asking Price

Crain’s Chicago Business reports that if the Carlins’ house sells at or near the listing price, the property will be the richest home sale in Lincoln Park in nearly a year.

The Carlin property was previously owned by Penny Pritzker and her husband, Bryan Traubert. Pritzker is the older sister of Illinois Gov. J.B. Pritzker (D) and a member of the billionaire family that controls Hyatt Hotels. Ms. Pritzker has also been involved in politics, as she served as the 38th US Commerce Secretary from June 2013 until June 2017 under President Barack Obama, another Chicago native.

The Carlin house comes with five bedrooms and 5.5 baths, and a professionally landscaped oversized 50 x 200-foot lot with a basketball court and artificial turf. The primary master suite has a spa-like bathroom and two large custom walk-in closets.

The 10,000-square-foot lot is within walking distance of the 1,208-acre Lincoln Park, home to the city’s zoo and parkland, nature reserves, beach, and harbors. Historic Wrigley Field, home of MLB’s Chicago Cubs, is less than two miles north.

The Carlin pad also comes with a hefty tax bill north of $94K per year.

Carlin’s Future

Carlin departed Rush Street Gaming in 2022 as its chief executive officer. He’s since founded G2 Gaming and has begun acquiring casinos.

G2 Gaming is bullish on New Hampshire’s gaming industry, as the company has acquired two gaming licenses in the Granite State. Carlin bought the Ocean Gaming Casino in Hampton Beach and is building a second casino that will occupy vacant space in Rochester’s Lilac Mall.

New Hampshire recently liberalized its charitable gaming market to include slot-like historical racing machines (HHR). The inclusion of the pari-mutuel-based electronic gaming terminals made the market more attractive and potentially lucrative, Carlin said in 2023.

We look forward to immersing ourselves in the Rochester community and working with state and local leaders to build charitable gaming operations that we expect will raise millions of dollars annually for New Hampshire nonprofit organizations,” Carlin said last year.

New Hampshire’s charitable gaming law requires that charities that partner with casinos, card rooms, or gaming operators receive a minimum of 35% of the gross gaming revenue.