wrigley-mansion
A Gilded Age–era mansion linked to one of Chicago’s most storied families—the Wrigleys, founders of the chewing-gum company and the former owners of the Chicago Cubs—has gone on the market.
It’s a beauty, but buyers should beware: The Wrigley mansion is also a foreclosure.
Located across the street from Lincoln Park on the city’s North Side (boasting unobstructed views of the park’s North Pond as well as Lake Michigan), the nine-bedroom, nine-bath property recently landed on the market for $7.15 million.
It’s another sharp deviation in price for the storied property, which is also known as the Theurer-Wrigley House. It was listed in November 2014 for $8.7 million, then the price was dramatically cut to $4.9 million in June 2016. If those fluctuations weren’t enough, the Italian Renaissance–style mansion first hit the market in 2012 for $9.5 million.
More From Realtor.com
realtor.com
The home was originally commissioned by local brew master Joseph Theurer, and in 1896 architect Richard Schmidt built the home on spec. The trend, which we’re used to seeing in the megamansions of Southern California, was mostly unheard of over a century ago.
“William Wrigley Jr. came by and bought it in 1911,” says listing agent Anthony Disano, of ParkVue Realty Corp.’s Chicago office. “It’s unclear how many years he lived there.”
Wrigley Jr. died during the 1930s, but the home remained in the Wrigley family until the 1980s, according to DNA Info.
All the original woodwork, tile work, and brass in the 13,705-square-foot home are still intact and in good condition. Baroque-style terra cotta was sourced from the same supplier as The Wrigley Building, in downtown Chicago.
The home also has a rare copper patina roof, a solarium, a wine cellar, a top-floor ballroom, and a library. There’s exquisite bird’s-eye maple, mahogany, and cherry woods throughout, including on the staircase.
For fans of city living who don’t want to give up living space, this is a rare opportunity: “You don’t get that (much) square footage in that neighborhood,” says Disano. A guesthouse and two-car garage (once a horse stable) are also on the property.
realtor.com
realtor.com
The agent thinks it could serve as home base for a local magnate. “It’s well-fit for a family,” says Disano. “Even though it’s large—the grand entrance is humongous—the square footage is taken up with the staircase.” The next owner will need to update the kitchen and bath, which were last renovated 20 years ago.
One plus for a discerning buyer? The mansion was unused for years, which may mean less wear and tear to the structure.
“Why did they keep this property so long and not use it much?” muses Disano. He has no answer to that rhetorical flourish, but he adds that the home has had no more than five owners. It’s now waiting for the sixth to unwrap the next chapter in its history.
realtor.com
realtor.com
The post Chew on This: Chicago's Fabulous Wrigley Mansion in Foreclosure appeared first on Real Estate News & Advice | realtor.com®.