Lincoln Park Mansion Listed for Record $50 Million

A luxurious Lincoln Park mansion was listed for sale Thursday at a record $50 million. Take a tour inside.

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Richard and Michaela Parrillo are selling their 25,000-square-foot, seven-bedroom mansion for a record asking price of $50 million.
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The couple built the North Burling Street home less than 10 years ago.
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The property spans 8.5 city lots.
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They decided to sell it because they are spending more time in Florida, where they have another home, according to one of the property's listing agents, Matt Leutheser, with Jameson Sothesby's International Realty.
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"They're basically downsizing," Leutheser said.
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It cost $65 million for the couple to build the mansion, including the $12.5 million it cost to purchase the land.
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Leutheser said the property sits on one of Chicago's "most premiere blocks."
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Still, they are asking for $15 million less due to the state of the current market.
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"We'd prefer them not to get hit but the market is what it is," Leutheser said.
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Leutheser said the couple spent five years building the home.
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They moved into the property in 2010.
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"This is something that they spent a lot of time and effort constructing," Leutheser said. "There's nothing else like it."
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"The build was a labor of love for them," Leutheser said.
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The asking price is well above what any Chicago-area home has ever sold for.
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The highest price a Chicago-area home has sold for was $19.5 million, when Groupon founder Eric Lefkofsky purchased a manion in Glencoe in 2014, according to the Chicago Tribune.
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Meanwhile, the highest priced-sale in Chicago sits at $18.75 million in 2015 for a 65th-floor penthouse condo unit in the Park Tower.
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Leutheser said the couple hopes that whoever purchases the home appreciates the work they put into it.
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"The buyer pool is going to be fairly small," Leutheser said. "This isn't something that everyone can afford to do."
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The $50 million home features a curving staircase with black and gold wrought iron railing.
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It also features wood-trimmed, arched passageways.
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It also features wood-trimmed, arched passageways.
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Unique ceiling details are featured throughout the home.
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Unique ceiling details are featured throughout the home.
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Marble flooring covers the home, with some areas featuring unique designs.
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"It's really irreplaceable," Leutheser said.
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