Multi-Million-Dollar House Sells; Another Relists

August 14, 2010

A Chicago real estate deal closed this week as one of the city’s biggest residential sales of the year.

The new owner can sell tickets to his in-home theater to help cover the mortgage.

The 11,000-square-foot mansion, located in 2004 on a double lot at 1866 N. Howe St. in Lincoln Park, sold for the full asking price of $8.5 million.

The three-story home has six bedrooms, including a third-floor master suite and a sixth bedroom in the lower level, five-full and two-half baths, a second-floor laundry room and two fireplaces.

There is also an in-home theater, a fully equipped gym, a billiards room, a greenhouse, an elevator, a rooftop deck and a four-car attached garage with a 50-foot sports court on top.

What to do when the ball bounces off the roof?

According to property records, the seller was Michael Friedman, a Managing Director at Ocean Tomo, LLC, a Chicago-based merchant bank that specializes in intellectual property transactions.

Friedman put the Chicago home on the market April 7 and had it under contract within a month. The deal closed August 10.

The 2008 tax bill on this house was almost $75,000.

* * *

That $8.5-million price is impressive, but there’s a new home in Burr Ridge with an asking price of $13 million.

Villa Taj is located on the busy corner of County Line and Plainfield Roads in Burr Ridge.

The “Villa Taj” was built in 2009. The word Taj is Persian for crown jewel.

More than 160 tons of imported Gold Jerusalem stone were used inside and out during construction, and throughout the home you will find more than 1,000 pieces of hand-carved stone, each weighing more than 95 pounds.

Situated on 3.5 acres at 6501 S. County Line Road in the western suburb, the hand-crafted estate offers 30,240 square feet of living space plus more than 15,000 square feet of covered terrace.

Built in 2009, the three-story home boasts five master bedroom suites plus a 2,400-square-foot Imperial bedroom suite, and each suite includes a fireplace and a bathroom with a rainshower, a Jacuzzi tub and the power to make it a private steam room.

There are a total of eight-full and four half-bathrooms and nine fireplaces in the home.

There is also a formal dining room with an adjacent dining lounge, wine cellar and cigar room, a library, a grand ballroom with 38-foot ceilings, an elevator, a game room with a full bar, a theater, a room intended to convert into a two-lane bowling room, two living rooms, a 20-car heated garage and a heated driveway.

The French garden-styled landscaping includes more than 600 trees. A pool and pavilion are being planned as well, as if the house doesn’t offer enough already.

It looks like this home was listed at $25 million last year, but it couldn’t sell and was set to be auctioned off in November for a starting bid of $6.25 million.

It was pulled from auction and relisted today at $13 million.

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The Villa Taj was built for the most powerful being on earth, a spiritual being.


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