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PROMOTIONAL MARKETING

What house can you buy for $10 million and up?

Home shoppers itching to spend $10 million or more on a
residence here have more options these days.
The most expensive Chicago-area homes for sale include some
familiar pads, from the unfinished full-floor penthouse atop the
Trump International Hotel & Tower available for $32 million to
the seven-acre Highland Park estate of Chicago Bulls legend
Michael Jordan, who cut his asking price to $21 million this year,
from $29 million. In Winnetka, a nearly 17,000-square-foot
French chateau, “Le Grand Reve,” which took four years and
nearly $40 million to build, is back on the market at $21.9 million
after failing to sell in a 2011 auction.
The resurgent real estate market this year has nudged other elite sellers off the fence as well:
Philanthropist Ann Lurie on Friday listed her 12-bedroom, 18,590-square-foot Gold Coast manse for
nearly $18.8 million; while tent-rental baron Harry Oppenheimer is asking $17.5 million for a 25-acre
Highland Park horse farm with tennis court, fishing pond, outdoor pool and an ivy-covered five-
bedroom home. In total, nine Chicago-area homes are publicly listed for $10 million or more, up from
seven in June 2012, according to the Chicago Association of Realtors-MRED. Five of the homes hit
the market in the past year.
“There is a surprising number of (buyers) in this price range, whereas a couple years ago we had
a couple,” said Prudential Rubloff broker Janet Owen, who is marketing a $10 million Lincoln Park
listing for a local hedge fund executive. “The climate seems to be just right and I am getting a lot of
activity.”
Though eight-digit home sales don’t happen often in Chicago, there have been recent splashes. A
private trust paid $12.3 million in December for a six-bedroom lakefront villa in Winnetka. A month
earlier, Citadel LLC chief Kenneth Griffin bought a Park Tower condo for $15 million, the most ever
paid for a Chicago condominium. Before then, the last time a Chicago-area home fetched $10 million
or more was in 2007, according to the Chicago Association of Realtors-MRED.
Listing Agent: Janet Owen of Prudential Rubloff; 312-268-0700 or jowen@rubloff.com.