Sam Zell, a Chicago real estate magnate who earned a multibillion-dollar fortune and a reputation as 'the grave dancer' for his ability to revive moribund properties has died due to complications from a recent illness.
real estate magnate who earned a multibillion-dollar fortune and a reputation as "the grave dancer" for his ability to revive moribund properties has died due to complications from a recent illness. He was 81.
A month later, he made another deal that ultimately tarnished his image: the acquisition of the ailing Tribune Co. for $13 billion. The media giant filed for bankruptcy the following year. Zell was born in Highland Park, Ill., on Sept. 28, 1941, four months after his immigrant parents arrived in the United States. They fled Poland before the Nazi invasion.
He later co-founded the Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies at the University of Michigan's Ross School of Business in 1999 with Lurie's widow, Ann. Zell loved risk, both in his business dealings and his personal life. He once acknowledged riding his motorcycle as fast as 145 mph on a trip across the South American pampas.
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