Oct. 21--Once the Chicago area's highest-priced residential listing, a 20,000-square-foot, Palladian villa-style mansion in Lincoln Park has had a price reduction to $16.9 million, down from $18.75 million.
The six-bedroom mansion, owned by Tampa Bay Rays part-owner Timothy Mullen, went under contract for an undisclosed price over the summer before that deal fell through. Now the mansion on Oct. 15 got its first price reduction since coming on the market in June 2014.
Mullen, former CEO of First Options, paid $9.5 million in 2002 to buy the mansion. He then paid $1.23 million the following year for an adjacent parcel, which now houses the property's two-bedroom guesthouse.
In all, the mansion and guesthouse extend across five city lots. Features include an indoor pool and spa, a home theater, a six-car garage, 10 1/2 baths and skyline views.
Bob Goldsborough is a freelance reporter.
