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Lincoln Park Mansion Hits the Market for $50M, a Price Record for Chicago

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ORIGINALLY PUBLISHED ON DECEMBER 08, 2016 MANSION GLOBAL

chicago

A French-style mansion boasting an ornate stone façade in Chicago’s upscale Lincoln Park neighborhood hit the market Thursday with an asking price of $50 million, looking to set a record for the city.

The mansion was built in 2008 by its current owners, Richard Parrillo, chairman and CEO of Florida-based United Automobile Insurance, and his wife, Michaela, according to Matt Leutheuser from Jameson Sotheby’s International Realty, who is co-listing the property with Tim Salm from the same brokerage.

Situated on seven city lots (about 0.6 acres) and a few blocks away from Lake Michigan, the 25,000-square-foot mansion has six bedrooms, seven full and four half-bathrooms, as well as an indoor grilling room, multiple kitchens, and dining and living areas, according to the listing.

Wrapping around a curving staircase with an ornate black and gold-wrought iron balustrade are galleries showcasing the Parrillos’ art collection. In the basement, there is a wine cellar and a wine tasting room equipped with a Louis XIII fireplace.

Outside, there is a garden with a reflecting pool, a large terrace with outdoor fireplace and a kitchen overlooking the yards, lots of fountains and parking spaces in the front of the property.

“The overall thought and imported materials put into this mansion are impressive, and the amount of space in this great location is irreplicable,” said Mr. Leutheuser.

The Parrillos, who were not immediately available for comment, spent more than five years to build the mansion, according to Mr. Leutheuser. “It is really a labor of love,” he said, “but they’ve decided to sell because they are spending more time in Florida.”

The most expensive listing to ever hit the market in Chicago was a top-floor unit at the Trump International Hotel & Tower in 2012. The asking price was $32 million and it sold for $17 million in 2014 , according to Realtor.com.

Write to Fang Block at fang.block@dowjones.com