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Billy Corgan Slashes the Price Again on Gold Coast Condo

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Through the '90s, Smashing Pumpkins frontman Billy Corgan was the unofficial ambassador for a generation of angsty teens. He's all grown up now, but the housing market must have him feeling a bit angsty these days. The home-grown rocker has been trying, without luck, to sell his 3,700-square-foot unit in the old Patterson-McCormick Mansion for two and a half years, and this week he dropped the price again. According to the Trib, Corgan bought the place for $2.95 million back in 2002. Then, in 2008, he listed it for $5.5M. For much of the past year, Corgan has also tested the rental market, listing the unit for $10,000 per month, but that, apparently, didn't generated much interest either (and it looks like the rental listing has been removed). This week, he relisted the 2BD, 2.5BA unit for $2.85 million (down from $3.55M). Think it'll sell this time?
· Listing: 1500 N. Astor Pl. #6 [Koenig & Strey]
· Billy Corgan cuts price on Gold Coast condo to $2.85M [Trib]