When most people can only dream of having a $33.5 million worth house, an Atlanta –based entrepreneur actually had to face a nightmarish loss of this very amount on his $50 million luxury mansion. Hubert Humphrey spent almost $50 million on the construction of Cheatu, Le Rêve or “The Dream” in French. Located in Forsyth County of Georgia, this mansion was completed in 2006 and was listed in 2009 for $45 million and went into foreclosure within a year in 2010.
Humphrey, who got his start as a railroad breakman, went all out to create his ‘dream’ mansion. The outcome was a palace-like abode with seven bedrooms, nine full baths, eleven half-baths, ten fireplaces and two elevators. But that’s not all! The campus also has an 18-hole golf course, a golf simulator, horse stables, a bowling alley, a private camping area and an interesting addition – a 1950s-style diner. Owing to this entire extravaganza, the construction costs went sky high and the bank had to take control of the luxury real estate.
The bank also went ahead and accepted an offer of a mere $11.5 million, which seems like peanuts in comparison to the estimated construction cost of $50 million! This price cut of around 75% according to Zillow certainly has shattered the ‘dream’ of Mr. Humphrey, but has fulfilled that of some other family, which according to real estate agent Tony Stowe are no celebrities but “normal folksâ€. But with an abnormally awesome house like that, they won’t come in the category of “normal†for long.
