With an official asking price of $50 million, this Burling Street mansion in Chicago makes it the most expensive home ever listed in the city.
The 25,000-square-foot home was built in 2008 by United Automobile Insurance chairman and CEO Richard Parrillo and his wife Michaela, according to Curbed Chicago. The couple paid $12.5 million for the seven lots on which the home sits, and built the mansion for an estimated total cost of about $65 million.
The couple decided to sell their home as they are spending more time at their home in Florida.
According to Curbed Chicago, “the previous record was held by a raw penthouse space in the Trump Tower that listed in 2011 for $32 million. The penthouse ended up selling at the end of 2014 for $17 million—which became a record-breaking sales number.
Even if the home only received half of its asking price, it would still hold the record for the most expensive home in Chicago.
Matt Leutheser, with Jameson Sothesby’s International Realty, is one of the listing agents for the massive property, and says that couple is “basically downsizing.” Which, at 25,000-square-feet, isn’t hard to do.
Leutheser said the property sits on one of Chicago’s “most premiere blocks.”
Despite the fact that the couple spent around $65 million on the home, they are asking $15 million less due to the current state of the housing market. “Across the street from the Parrillos is a 14,000-square-foot mansion on five city lots that went for $13.3 million in December 2015. Its asking price started out in 2014 at $18.5 million,” according to Crain’s.
They spared no expense when it came to creating this masterpiece of a home.
The Parrillos even used 1-foot thick limestone to create the exterior of the massive home.
It took the Parrillos about five years to build the mansion.
“This is something that they spent a lot of time and effort constructing,” Leutheser said. “There’s nothing else like it. The build was a labor of love for them.”
The enormous home is overflowing with elegant and luxurious details.
A gold and wrought iron staircase spirals up to the second and third floors of the home. There are also wood-trimmed, arched passageways throughout the entire mansion. It almost feels as if you’re in a palace in the French countryside.
Gorgeous marble flooring can be found throughout the home, often adorned with a beautiful design or pattern.
“The buyer pool is going to be fairly small,” Leutheser said. “This isn’t something that everyone can afford to do.” Although, he says that whoever buys the home, the couple hopes that they appreciate all of the hard work and love they put into it.
Each room of the stunning home is more breathtaking than the next.
A large, slab of light-colored marble serves as the centerpiece and island in the kitchen. Hosting dinner parties in such a beautiful space would be a breeze.
The woodwork and intricate details throughout the home are hard to wrap your head around.
This wood-centric room is an office that seems fit for royalty. Notice the large centerpiece of the room – the gold and black chandelier hanging from the ceiling.
Speaking of chandeliers – there seems to be one that makes a bold statement in practically every room.
This room, what appears to be a great room of some sort, features arched ceilings and double glass doors that lead into an impressive temperature controlled wine cellar.
Have an extra $50 million lying around? View more pics and learn more about the home at Curbed Chicago.
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