Le Grand Reve Fails to Find a Buyer, Headed for Auction

One of the biggest and most expensive homes in the Chicago area is headed for the auction block. There was anticipation in the US real estate market that the most expensive homes in US have been less affected by the recession and will bounce back to its earlier levels of valuation soon. But the fate of the 27,000-square-foot Winnetka mansion known as “Le Grand Reve” belies that hope. The truly grand mansion failed to buy a buyer even at scaled down prices. The ultra luxury property has been on the market since 2009.

The auction route is the last resort for the owners to sell the property somehow. It was first listed in 2009 for $32 million. Even that was supposed to be a compromise price as the listing agent had disclosed that the mansion had cost $40 million to build and furnish. However the price was scaled down to $23 million by November 2010. And now Concierge Auctions has announced that the home will be auctioned to the highest bidder on October 29. The mansion is steeped in Chicago’s history and its architectural tradition.

Known as Winnetka Chateau, the mansion has 26 rooms and a living area with artistry of French architecture and interior decorations. The main entrance area has a dome which is known to be Tiffany stained and has 2 artistic stairwells with black railings. Some of the amenities of the property include powder and gift wrapping room, spa, home theater room, swimming pool, apart from the 6 bedrooms and 8 bathrooms. The mansion boasts of 10-car garage space for vehicle parking. Only registered bidders can participate in the auction and the participants will have to deposit a sum of $250,000 before the auctioning begins.

Via chicago.curbed

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