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Chicago’s priciest home returns seeking $45M

The massive Parrillo estate is back on the market for $45 million

After listing for a record-shattering $50 million back in 2016, the ultra-opulent Lincoln Park mansion of insurance magnate Richard Parrillo and wife Michaela returned Wednesday with a new asking price of $45 million, reclaiming the crown of Chicago’s priciest listing in the process.

Spanning more than eight standard city lots, the six-bedroom, 11-bathroom estate features 25,000 square feet of living space, a private walled garden, a driveway of imported French gravel, and a custom interior with ornate stone, wood, and plaster details throughout.

The mansion’s reappearance comes after its owners pulled it off the market in November. The three-month absence briefly elevated the $21.9 million Thompson House in the Gold Coast to the distinction of Chicago’s most expensive listing.

Even after the $5 million price chop, the Lincoln Park mansion is still seeking more than twice as much money as the city’s next priciest home. The revised asking price is also more than double the $19.36 million property value assessed by Cook County last year, notes the Chicago Tribune.

The Parrillos claim to have put $65 million into acquiring the land and constructing the palatial residence over the past ten years, says Crain’s. Will the new price tag see the couple recoup $45 million of that investment, or is this latest figure another case of wishful thinking?

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