Record-setting $50M listing pulled off the market in Lincoln Park

Chicago’s most expensive listing—an opulent six-bedroom, 11-bathroom mansion with a record shattering $50 million price tag—has been pulled off the market. The sprawling Lincoln Park property listed for sale in December 2016 with no reductions in asking price since, according to the Chicago Tribune.

Completed in 2008 by insurance magnate Richard Parrillo and wife Michaela, the massive Burling Street residence spans eight city lots which were purchased by the couple in 2005 for $12.5 million. All told, the Parrillos invested a reported $65 million into creating the 25,000-square-foot mansion which includes ornate marble and plaster details and a driveway of gravel imported from France.

The property’s removal from the market elevates the Gold Coast’s historic Thompson House to the city’s new priciest residential listing. Built in 1888, the Cobb & Frost-designed Richardsonian structure is currently seeking $21.9 million—less than half of the Lincoln Park mansion’s astronomical asking price.

Although the Parrillo’s urban estate shattered the record for Chicago prices, the title of the city’s most expensive home sale was set earlier this year after billionaire hedge fund manager Ken Griffin purchased four floors atop No. 9 Walton for a combined $58.75 million.

Jameson Sotheby’s International Realty

Jameson Sotheby’s International Realty

Jameson Sotheby’s International Realty

Jameson Sotheby’s International Realty

• $50 million Lincoln Park mansion taken off the market [Chicago Tribune]
• Bonkers Burling Street mansion lists for $50M [Curbed Chicago]
• Chicago’s 25 most expensive listings [Curbed Chicago]