JpMorganChase

Jamie Dimon's Chicago Home On The Market For A Reduced Price

Filed under: Estates

How does JP Morgan CEO Jamie Dimon live? His $10.5 million home on Chicago's Gold Coast offers a hint. The eight-bedroom home was built in 1870 and measures approximately 15,000 square feet over four stories. It includes a 900-square-foot rooftop terrace.

Dimon has been the CEO and president of the company since 2005 and has been an integral part of overseeing the $25 billion in TARP funds that JPMorgan Chase received. He hasn't lived in the Gold Coast home since 2004.

He is asking $10.5 million for the home which puts it at the peak of homes currently listed for sale in Chicago. The home was listed for $13.5 million about two years ago. Back then Berg Properties reported that the home was purchased by Dimon and his wife in 2000 for $4.68 million so he could still make some money on the deal.

[via Cityfile, via Blockshopper]

Gallery: Jamie Dimon in Chicago

Source

Tags: chicago, gold coast, GoldCoast, jamie dimon, JamieDimon, jp morgan, jp morgan chase, JpMorgan, JpMorganChase

JP Morgan Chase Sues Dutch Museum Over Painting

by Deidre Woollard (RSS feed) —

Filed under: Art

The beautiful painting shown above is now part of a dispute between Amsterdam's Rijksmuseum and JP Morgan Chase. The painting, Gerrit Adriaensz Berckheyde's The Bend in the Herengracht near the Nieuwe Spiegelstraat in Amsterdam (1672), was purchased by the museum from Dutch businessman Louis Reijtenbagh last year. But it turns out that the painting is on a list of art that Reijtenbagh used as collateral to secure a loan. The bank got most of his art collection earlier this month and now wants this painting too. JP Morgan Chase filed a claim in a New York federal court to seize the painting saying that the businessman shouldn't have sold it to the museum if he was using it as loan collateral.

The painting is currently in Washington D.C. It is on loan to the National Gallery through May 3 as part of the exhibition "Pride of Place: Dutch Cityscapes of the Golden Age."

Source

Tags: amsterdam, art, jp morgan chase, JpMorganChase, painting, Rijksmuseum

JPMorgan Chase Plans New Jet Purchases

by Deidre Woollard (RSS feed) —

Filed under: Wings, Wealth

Another day, another chance to be outraged over a corporate jet purchase. ABC News reports that JPMorgan Chase will proceed with a $138 million plan that calls for buying two new corporate jets and building a new aircraft hanger at Westchester Airport in New York. JPMorgan Chase has received $25 billion in TARP funds.

The planes are Gulfstream 650s and the hangar has "green" features including using reclaimed wood and quarry tile and adding a roof garden. The JPMorgan hangar would boot out a fixed-base operator Avitat Westchester partly because off the new hangar's green features. Gawker points out that Avitat pampers clients including JPMorgan Chase in a lavish hangar that includes a baby grand piano, giant fishtanks and a food service set up. JPMorgan Chase has four jets at the Westchester Airport. The new Gulfstreams aren't set to arrive until 2013.

JPMorgan Chase has said no TARP money will be used and that future jet purchases are just part of its "normal aircraft replacement policy" and that the company will repay the TARP money before making payments for new planes and renovation.

Gallery: Corporate Jets For Sale