If the highest priced property in Orange County was long on your wish list, here is big news for you. the $37 million worth mansion has been re-listed with with Rob Giem and Michelle Queyrel of Hom Real Estate Group after Luxury home agent John McMonigle has lost the contract. Its 12.5-acre compound covers three-story Tuscan mansion, one-acre lake, vineyard, stable and tennis court. It was McMonigle’s dream project since the time he purchased it from the Irvine Co. in 2003. It has much been as much as 6 years since he was marketing this property as he also oversaw the construction of of the 17,000-square-foot mansion with its 17-car garage, the digging of a lake and fountains and the planting of a vineyard.
Sources suggest that Orange County’s top agent was going through a rough patch after homebuilding investments got caught up in the housing crash. This is the primary reason why this property was put back on the market. It is said that McMonigle, his wife, and two associated business entities filed for bankruptcy as creditors proceeded with the Villa del Lago, his office building and other properties.
The property here is being sold in “as is” condition which means that the buyer needs to complete the remaining construction which presently stands at 90% completion status. The brokers would be charging 3.75% of the final price as commission and the listing woild expire on December 27 this year. The property is spread across a three-story Tuscan mansion, one-acre lake, vineyard, stable and tennis court.