Nov
09

Bill Wrigley Jr’s Gold Coast Condo For Sale

November 09, 2009

Bill Wrigley Jr., the chewing gum heir and chairman of Wm. Wrigley Jr. Co., has just listed his 13,200-square-foot Gold Coast penthouse for $14 million, giving him the distinction of holding the city’s highest-priced residential listing.

In addition, with Wrigley having just placed his 11,013-square-foot, Italianate mansion on Lake Michigan in Lake Forest on the market for $14.5 million, Wrigley is attempting to sell two of the five highest-priced properties in the Chicago area.

On the Gold Coast, Wrigley’s full-floor penthouse is raw, undeveloped space, and sits on the eighth floor of the Lucien Lagrange-designed limestone building at 65 E. Goethe St. He purchased the penthouse, which is three units combined into one, in 2002 for $9,775,000. Twice since buying it, Wrigley resolved to build out the space, but both times changed his mind, said his listing agent, Jim Kinney of Baird & Warner.

Wrigley, 46, now has decided to sell the penthouse, and his Goethe LLC company, which owns it, listed it on Oct. 21.

The penthouse includes two 1,500-square-foot outdoor spaces on the roof, plus six garage spaces, Kinney said. In addition, Wrigley is including architectural drawings that he commissioned for the space in the asking price.

“We would prefer to sell it to one person, but we have had a couple of people come forward and say, ‘I’m interested in the space, but I don’t need all of it,’ ” Kinney said. “Bill doesn’t want to sell it piecemeal. If we had two people who wanted to buy it and split it, we would do that.”

Wrigley is looking for a smaller place here, said Kinney, who declined to comment on where Wrigley will move. A spokesman for Wrigley Co., which was purchased by Mars Inc. in 2008, said Bill Wrigley could not be reached for comment.

Records show that through an LLC company, Wrigley paid $11 million on April 8 to purchase a 6,994-square-foot home built in 1965 that has frontage on the Lake Worth Lagoon in North Palm Beach, Fla. Records also show that Wrigley paid $11.53 million in May for property in Aspen, Colo.

Wrigley’s asking price in the Gold Coast dwarfs the previous highest-priced residential listing in Chicago — JPMorgan Chase CEO Jamie Dimon’s $10.5 million asking price for his 26-room, 15,000-square-foot mansion on Astor Street, which is still on the market.

In Lake Forest, Wrigley placed his 20-room mansion on the market on Oct. 19. However, the seven-bedroom residence, which Wrigley purchased in 2003 for $9.9 million, had been listed privately, or as an “exempt” listing, earlier this year for $16 million.

Built in 1912 and designed by architect Howard Van Doren Shaw, Wrigley’s ivy-covered stucco mansion in Lake Forest has been renovated and restored and has seven full baths, four half baths, five fireplaces and a five-car garage. The 3.1-acre property has a pool and terrace.

Check out the Web site for Wrigley’s Lake Forest mansion at 1345northlakeroad.com.

Categories: City of Chicago

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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