Realtor: Chicago’s Most Expensive House Is a $13M Mansion in Need of Renovations

Monday, August 22, 2016

Chicago’s Most Expensive House Is a $13M Mansion in Need of Renovations

realtor.com

Chicago’s most expensive listing is a $13 million mansion, but a buyer will need to go above and beyond the sale price when the deal is done.

Located along a prestigious section of Lake Shore Drive, the limestone mansion has been the headquarters of the International College of Surgeons for 65 years. Built in 1916, it was registered as a historic property in 1989—and the structure needs updating.

According to Crain’s Chicago Business, the kitchen is still the same small one designed for servant use, and the 12,000-square-foot home has only one full bathroom—the other seven have been converted to powder rooms without a shower or tub.

Oh, and the place needs a new roof. One source told Crain’s a buyer would want to “spend several million dollars on the renovation” to get the property back into shape.

Front view

realtor.com

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Behind the four-story home’s 10-foot-tall, wrought-iron doors you’ll find marble staircases, stained-glass windows, marble archways, nine fireplaces, intricate moldings, and herringbone-patterned hardwood flooring. Outside, there’s a 2,400-square-foot, two-story coach house and clear views of Lake Michigan. The top two floors are currently used as office and storage space. For a closer look, take a virtual tour of the listing.

Architect William M. Kendall, who helped build the Morgan Library in New York City, built the 10-bedroom home for Edward Tyler Blair and Ruby McCormick Blair, two movers and shakers in Chicago in 1916.

The property originally hit the market in September with a $17 million price tag, but it has since been cut by $4 million. Last year, the Windy City’s previous most expensive listing went on the market for $18.75 million but sold for $13,345,000 three months later.

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