Multimillion-Dollar Mansions Going For a Song

It's certainly a buyer's market for housing -- and more and more, Chicago sellers are cutting the asking price on even the ritziest of homes.

Multimillion-dollar North Shore houses are not selling very well lately, according to the Tribune, leading some homeowners to slash prices by millions, or even put their mansions on the auction block.

Sheldon Good & Co., auctions off luxury homes. Its executive VP says sellers are more attracted to the auction -- meaning that multimillion-dollar mansion of your dreams may finally be yours.

A $4.2 million mansion in Lake Bluff has been on the market for far too long, despite its prime location next to Lake Michigan, and it's now going for a measly $3 million. What a bargain!

Seriously, if you can afford that kind of home, the deals are definitely out there. Some real-estate agents are grumbling that potential buyers are "taking advantage" of the situation, getting unheard-of deals on the best houses.

The only drawbacks to owning a mansion are those pesky property taxes, heating and cooling bills, and just imagine how much you'll have to pay the gardener.

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