Finteza

Chicago.com -- $1 million ?

Labeled as sales in Domain Industry News started by GeorgeK, Dec 2, 2018.

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  1. GeorgeK

    GeorgeK Leap.com PRO VIP ★★★★★★★★★★

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    I believe Chicago.com changed hands for USD $1 million. According to the buyer's IRS Form 990 (24th page), there's an entry "WEBSITE - CHICAGO.COM" for $1,000,000, see:

    https://cct.org/wp-content/uploads/2018/10/CCT_Form990_FY17.pdf

    Presumably that's for the domain name (unless "website" is actually intentionally different than "domain name"). Ron Jackson or others can followup with the Chicago Community Trust or the seller to be 100% sure. This transaction was reported in January 2017:

    https://domaininvesting.com/chicago-com-sold-to-cct/

    but the price had not been known at the time.

    Seems like the buyer got the best of the seller, if that's the transaction price. (CCT has billions in assets!)

    In a comment to the post on DomainInvesting.com, I noted:

    I of course did exactly that. :)
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Fancy.domains

    Fancy.domains Selling gTLDs like delicious hotcakes Gold Account VIP

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    Thank you for the information!

    $1M feels like a ’reasonable price’, but at the same time there are not many reported city domain sales in this price category.

    An exemption from this is LA.com, that sold for 1,2M in 2016.
     
  3. nametrekker

    nametrekker Established Member ★★★★★★★★★★

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  4. Internet.Domains

    Internet.Domains Active Member VIP

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    Sounds like the buyer stole this one.....I use the word "stole" hesitantly since we are discussing a city with a high crime rate.
     
  5. hookbox

    hookbox Active Member VIP

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  6. slader23

    slader23 Always On The Bleeding Edge. VIP

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  7. Kingslayer

    Kingslayer Active Member VIP

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    I don’t get it when people stay stuff like this with big domain sales (6 figures+), this domain in particular sold for 7 figures, how can that be a steal or some kind of bargain?

    7 figures is a hell of a lot of money for anything in life.

    I just call it a fantastic deal, a deal I’m sure both parties were happy with.
     
  8. Kate

    Kate Domainosaurus Rex VIP ★★★★★★★★★★

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    You are completely right, there are few domain sales in the $1M range and above. Usually you buy a country name in .com at this price, and a first World country.

    On the other hand if it is a website that was bought, it has to be appraised like a business with assets and producing income.
     
  9. Internet.Domains

    Internet.Domains Active Member VIP

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    Yes, when I said "stole" I was implying that it was a bargain, or a great deal for the buyer.

    The city of Chicago and its surrounding areas are well populated and the economy is robust. The city is home to many industries and the financial sector is one of the largest in the world. I can go on about metrics to support my opinion, but simply there is no better geo domain for this city. It is one of a kind, and $1m is a drop in the bucket for a domain that has much larger potential.

    When I say $1m was a bargain I am not discrediting that $1m is not a lot of money. I am just saying $1m for Chicago.com is not a lot.
     
  10. shig

    shig Established Member

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    I LOVE city domains and this is one of the best.

    I believe the reason for the small amount of sales is the fact no one wants to depart with their city/state domain names. For example, I reached out to the owner of Tampa/com with a 6 figure offer and was basically laughed at. I didn't realize it was owned by Reflex at the time ;) - they were actually cool as hell and he basically told me there was little chance they would depart with it due to the fact the company is located in Tampa and it has too much value to the company.

    This could be a big reason why we don't see many sales - the domains are too valuable to the owners.


    City domain names have max quality when talking the benefits of premium domain names.

    - Instant trust and authority
    - Easy brand recognition
    - SEO benefits
    - Type in Traffic
    - Real world marketing advantage
     
  11. ezincenter

    ezincenter Established Member ★★★★★★★★★★

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    I love local domain names. I hope I own one in the near future.
     
  12. Fancy.domains

    Fancy.domains Selling gTLDs like delicious hotcakes Gold Account VIP

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    According to this list, Chicago is the 8th ”wealthiest city” in the world:

    https://financesonline.com/10-wealthiest-cities-in-the-world-its-not-new-york-or-london-at-the-top/

    Obviously a city with some potential. :xf.cool:

    Off topic: I know that Bangkok is the most visited city (also a travel hub) and Bangkok.com was acquired some years ago by Hotels.com including a super high ranked hotel reservation website. I wonder how much they paid?!

    Source: https://www.forbes.com/sites/alexan...visited-city-in-the-world-again/#2cac95134071
     

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