Top Five Ridiculous Chicago Celebrity Price Slashes of 2013
Making our greatest hits countdown are five screaming price cuts designed to bump a sale that made us chuckle, moan, and a couple just never to be duplicated again.
Even the famous and famously rich felt the whip of buyers shot-calling, splitting hairs on terms, clipping points and negotiating — forcefully! — just how much they were willing to slap down for a stately crib. Which put sellers (celebrity or not, as it were) at the mercy of whim or fancy, a position of shrinking leverage. Translation: Being able to really walk away, head held high, from a perceived insult of an offer ("I don't have to sell") without worrying if a 20 percent slash now would make you look desperate, on the prowl.
Here's five listings of real estate theater, a little celebrity camp, parody and Kabuki in our year-end playbill:
A mega-load 22,000-square-foot estate in Olympia Fields (no pun). The R&B Grammy winner (I Believe I Can Fly) bought the extravagant grounds in 2008 for $2.8 million and quit making payments. JPMorgan Chase killed the pain on Kelly's foreclosure and legal woes, paying $950,000 at a spring auction on a property that swung in value between $5.2 million to $3.8 million, all in one a year.
Still on the block, the 11,233-square-foot Lake Forest estate of the late filmmaker with the cult following (Ferris Bueller's Day Off, National Lampoon's Vacation, the Home Alone movies). Originally listed for just shy of $6 million, the 7-bed, 6-bath had a 2013 price whack of $885,000 to an ask of $495,000.
Jordan can't retire this house. The market rolled its collective eyes at the nose-bleed opening price of $29 million. A Thanksgiving-timed auction for number 23's 7-acre, gated Highland Park mansion received no love. Now they're talking an ask of $16 million (that's a $13 million price gut) for a piece of the Jordan brand.
You can't keep something like this quiet. The pocket listing for Vaughn's 12,000-square-foot Palmolive Building penthouse was reported at $24.7 million. In 2012, the price softly dropped to $18.4 million before the comic actor and Blackhawks fan opened it to offers from the public. And then it slivered off another $2 million and sat in a $16.8 million price coma until Vaughn yanked the listing this year. Quietly. He paid $12 million for it in 2006.
The former Bulls power forward (1985-1988) had a weird time with his South Loop condo. Oakley listed his luxe Museum Park 3-bedroom for $979,000, reduced it to $874,000, and finally boomeranged the 2,319-square-footer back to $950,000 this year. The B-Baller dropped $1.1 million for the property in 2005 and caught a buyer for a (not too shabby) $900,000 sale, but that's a $200,000 loss off the buy.