Beautiful Chicagoland Home, But That Tax Bill . . .

November 07, 2010

There’s a Chicago area home for sale whose annual tax bill is as much as the price of some entire houses.

Backyard of estate

Imagine lake to the left.

The 18-room estate, located at 45 Lakewood Drive in Glencoe, is listed for $5.6 million.

Built in 1998 along the lakefront, this mansion provides walls of windows with breathtaking views of Lake Michigan, soaring ceilings and grand art walls.

The home boasts:

*Five bedrooms including the master suite on the first floor

*Five full bathrooms and three half baths

*A library and a gallery on the main level

*An office, an exercise room and a sitting room on the second level

*A huge recreation room plus a game room and a media room in the basement

*A walk-in closet on the first floor that measures 24×17

*Two fireplaces

*A four-car garage

*A heated driveway

The house reportedly was placed under contract on November 3. I sure hope the buyer contests the tax bill. In 2008, it was $182,917!

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