BUST: $50M Chicago mansion taken off market after failing to sell… Home prices grow at slowest rate in years

Most expensive mansion in Chicago taken OFF the market after failing to find a $50million buyer for two years as assessors claim massive abode is only worth $19.36million

  • The Lincoln Park mansion was built approximately a decade ago by Richard and Michaela Parrillo after the couple spent $12.5million in 2005 to buy land from the Infant Welfare Society
  • Inside the mansion there are seven bedrooms with walk-in closets and 11 total bathrooms – seven full and four that are half-bathrooms
  • Home size and price has been debated by those that listed the home and Cook County assessors 
  • James ‘Jimmy’ Dremonas’ $21.9 million mansion with six-bedrooms now has the highest asking price for any residential property in the city 

Chicago’s highest-priced residential real estate listing was taken off the market in November after failing to secure its staggering $50million price tag.

The Lincoln Park mansion was built approximately a decade ago by Richard and Michaela Parrillo after the couple spent $12.5million in 2005 to buy the land from the Infant Welfare Society. It was completed in 2008.

The United Automobile Insurance Co. chairman and CEO put the massive mansion up for sale in December 2016, the Chicago Tribune reported.

They have never waived the price, either, claiming that $65million was spent in total to build the mansion.

Inside the mansion there are seven bedrooms with walk-in closets and 11 total bathrooms – seven full and four that are half-bathrooms. It even comes with its own steam room.

There is also an indoor grilling room to compliment the multiple kitchens and dining areas. The home has its own wet bar and wine cellar as well.

 

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