93 Acre Vacation Retreat in Clio, CA Reduced to $20M
$20,000,000 | Built 2011 | 20,150 Sq. Ft. | 10 Beds | 11.5+ Baths | 93.6 Acres
1245 Carmichael Road, Clio, California, United States, 96106
Even after a hefty $30 million price cut, this 20,150 square foot lodge on 93.6 acres in Northern California failed to find a buyer and has been reduced an additional $5 million. Realtor reported the substantial price drop, “Even at its original list price, the property was a good deal when you consider the man behind the ranch, gaming tycoon Robert “Bob” Luciano, poured over $57 million into its development. Luciano’s company, Bally Technologies Inc., is big in the casino business, producing slot machines and gaming management solutions.” The 93.6 acre property is currently on the market for $20 million. Ideal as a corporate retreat, The Cedars was designed by architect Dennis E. Zirbel and includes a 16,000 square foot lodge with commercial kitchen, guest suites, gym and spa, meeting room, wine cellar, cave and tasting room and nearby tennis court with gallery seating, an outdoor kitchen and pavilion, fire pits, beach and a swimming pond. There is a large carriage house with garaging, a bunkhouse that can accomodate 18 guests with kitchen and entertainment areas, a caretaker’s cabin and a large maintenance building with workshop. The property also includes equestrian facilities with a 6-stall barn with paddocks and a covered round pen. The Cedars is on the market for $20 million with Jeff Hamilton of Sotheby’s International Realty.