What was at one point one of the priciest listings in the entire state has finally sold, but a steep discount. The new construction mansion at 8 Kaleigh Court in South Barrington sold this week for $4.9 million—a price that brokerage Jameson Sotheby’s International Realty says is the highest sale price paid in Barrington in five years.
The mansion originally listed in October 2012 seeking $16.9 million while it was still under construction. Over the months and years, the price dropped considerably before finally arriving at its final $5.799 million ask this year. According to the listing notes, the owners paid $13.4 million constructing the 24,000-square-foot mansion.
The house is not the first mega-mansion in the Barrington area to struggle on the market in recent years. Large homes, typically built between the mid-’90s through the years leading up the Great Recession, have generally sold at hugely discounted prices. Homes in the 3,000 to 5,000 square-foot range have been spending longer periods on the market and are taking more price cuts than more traditional homes, leading some real estate professionals and writers to suggest that the McMansion’s time "has come and gone."
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