Sep
14

Priciest Chicago Real Estate to be Auctioned

September 14, 2011

The most expensive Chicago real estate listing is headed to the auction block.

“Le Grand Rêve,” which translates to “The Big Dream” in French, is a 26,500-square-foot mansion on more than two acres of land in Winnetka that hit the market two years ago at $32 million.

The sellers dropped the asking price to $28 million early last year, but no one bit, so the North Shore home will be auctioned off at the end of next month.

The homeowners are Sherwin Jarol, CEO at Bradley Associates, a Chicago real estate investment company, and his wife, Deborah. They purchased the site for $2.56 million in November 2003, tore down the existing home and had the Landry Design Group build this French-inspired chateau.

Even at the original asking price, the Jarols are looking at a loss. The home, located at 68 Locust Road, Winnetka, was rumored to have cost $40 million to build and furnish.

This home boasts:

*17,000 square feet of living space

*16 rooms including 6 bedrooms, 6 full baths and 4 half baths

*9 fireplaces

*A grand entrance with a two-story rotunda and a Tiffany stained glass dome

*An up to 10-car heated garage and a heated driveway

*Exercise room and spa with a sauna/steam room

*Home threater

*A marble-floored enclosed porch

*In-ground heated swimming pool

*Gift-wrapping/craft room and wine cellar

All this luxury will cost you: There are monthly homeowner assessment fees of $1,100, and the mansion’s 2009 tax bill was $124,220.

The auction will be held on October 29 at the home, which can be viewed beforehand by appointment. The highest bidder will “take home” the estate, furnishings and all.

“We have sold ultra-luxury properties throughout the nation, but Le Grand Reve is the most impeccable, masterfully-constructed home we have ever had the pleasure to represent, said Laura Brady, Vice President of Marketing for Concierge Auctions, which will be handling the auction.

“From the custom, plaster crown moldings throughout to the hand-forged iron railings with gold accents, every design element and finish was intricately contemplated and detailed. Anyone interested in owning one of the most exclusive residences in the nation should take notice. When the gavel goes down on October 29th, we will name a new steward of this timeless estate.”

If you are interested in bidding on this Winnetka estate, you must deposit $250,000 in an escrow account before the auction.

For more information, visit conciergeauctions.com or call (877) 215-2370.

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Tracey

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