A property located on the corner of tree lined Astor Street and Banks Street, one of Chicago’s most expensive neighborhoods, is finding it difficult to find a buyer. The banks were the most affected by the crash in the property prices and a Banker is feeling the effect personally. This property is owned by Jamie Dimon Chairman and CEO of J P Morgan Chase & Company.
He had listed the property for the first time in April 2007 for $ 13.7 million. Since it couldn’t be sold at that price it was first scaled down to $10.5 million then to $9.5 million and now for $6.96 million which is a slide of almost 50% in just over three years. The property was first listed by Koenig & Strey GMAC Real Estate but has now shifted to Sotheby’s International Realty. It is amongst the largest homes in the Gold Coast.
The mansion which was built in 1800s has eight bedrooms and nine full bathrooms. Dimon had bought the house at 25 E, Banks Street in the year 2000. At the time he was heading the Chicago based Bank One Corp. The mansion which is located near Lake Michigan and Oak Street Beach has a rooftop terrace, wine vault and a well equipped gym. This time they seem to have the price right and are doing everything to sell it.
Via: Bloomberg
