This gold coast mansion at 1336 N State Parkway was once home to the Playboy bunnies in residence and was attached to the original Playboy mansion. It sold in November 2013 for $7.125 MM. 1 1/2 years later, after renovations, it is back on the market as Chicago’s third most expensive home currently listed. The price has more than doubled now to $14.5 MM.
The house was originally built by Dr. George Isham, who lived next door, for his daughter. He sold it to Playboy in 1959 for $400,000. I’m not clear on the exact chain of title but by 1984 it was owned by the Art Institute and used as a dormitory for a while. By 1992 I believe it was back in use as a single family home.
Former pharmaceutical executive Jack McGinley bought it in November 2013 and initiated a renovation. According to a Chicago Tribune article on the gold coast mansion they were planning on living there but their plans changed so they put it on the market. I’m thinking Jack got tired of shoveling snow.
According to the Tribune article the sellers “left no stone unturned” in their renovation but you tell me what you think after comparing the old and new photos side by side below. It looks to me like it was mostly paint, carpeting, and window treatments. If I’m not mistaken the flooring, light fixtures and cabinetry are pretty much the same. And I find it extremely odd that they don’t show any of the bathrooms – are they current or not? Perhaps they put some money into the gym, theater room, and that butler’s pantry. I’d sure like to know how much they spent on the renovations. Could it really be worth $7.4 MM?
The house has some incredible features as you might expect. Here are the basic stats on the place along with the MLS description:
- 5 bedrooms
- 5 full baths, 4 half baths
- 9000 square feet
- 5 fireplaces
- Elevator
- 3 terraces
- 2 garage spaces
- Property taxes are $40,444 based upon a $2.25 MM estimated market value. Joseph Berrios wake up, man!
Elegant & historic this 5 BR, 5.4 BA, 9000 SQFT Georgian home has been lovingly renovated with the finest of materials & re-imagined for the sophisticated buyer who enjoys both beauty & function. Expansive & expertly designed outdoor terraces create the perfect private oasis & add to unparalleled space to entertain guests. Experience the ease, grace, and grandeur of this spectacular home that is saturated with light.
The slideshow below shows some before and after photos.
#FamousHomes #ChicagoExpensiveHomes
If you want to keep up to date on the Chicago real estate market, get an insider’s view of the seamy underbelly of the real estate industry, or you just think I’m the next Kurt Vonnegut you can Subscribe to Getting Real by Email. Please be sure to verify your email address when you receive the verification notice.