Le Grand Rêve Heading to Auction
After sitting on the market for 2 years, Chicago’s most expensive listing will be heading to auction on October 29, 2011. The 26,500 square foot estate in Winnetka, IL is owned by investment company CEO Sherwin Jarol and his wife, Deborah. The property was unofficially put up for sale in 2009 for a staggering $32 million & dropped to $28 million when it was officially listed on the mls. They eventually took the home off the market. It was re-listed at $32 millon this past Wednesday and only a day later Concierge Auctions announced that the estate would be going to auction, fully furnished on October 29.
The auction is being held without a reserve which means the highest bidder will take the property. The home, named Le Grand Rêve, was completed in 2008 and is said to have cost in the area of $40 million to build & furnish. It was designed by Landry Design Group and was modeled after Chateau Villandry in France’s Loire Valley. There are six bedrooms, eight bathrooms, a gift wrapping room, staff quarters and a two-story rotunda with Tiffany stained glass dome. Only registered bidders & their agents will be allowed to attend the auction. All potential purchasers need to deposit $250,000 in an escrow account before the auction begins.
Alla Kimbarovsky, a real estate agent at Prudential Rubloff Properties in Winnetka, thinks the property will sell for a fraction of its listing price. “It’s out of the price range for this area, it’s overbuilt, overdone and overpriced,” she said. “In Winnetka, Kenilworth, nobody lives like that.”
Prior List Price: $32,000,000
Auction Date: October 29, 2011, 6:00 PM
Size: 26,500 Sq. Ft.
Bathrooms: 5 Full, 3 Half
Specialty Items: Built in 2008, 2 Acres, Designed by Landry Design Group, Two Story Rotunda, Home Theatre with 14 Foot Screen, Swimming Pool.
Address: 68 Locust Rd, Winnetka, Illinois, United States, 60093