REAL ESTATE

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

  • Marble fireplace

    Marble fireplace

  • Living area

    Living area

  • Paintings of various leaders of the International College of Surgeons frame the walls.

    Paintings of various leaders of the International College of Surgeons frame the walls.

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.

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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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