REAL ESTATE | Custom Mansion in the Heart of Lincoln Park One of the Most Expensive on the Market
- Glancer Magazine
- Sep 17, 2023
- 2 min read
Updated: Sep 19, 2023
LUXURIOUS LISTING MORE EXPENSIVE THAN MICHAEL JORDAN'S ESTATE
CHICAGO–1932 N Burling Street in Chicago's Lincoln Park neighborhood is a spectacular property that stands out in the real estate market. This luxurious home spans over 25,000 square feet and features 6 bedrooms, 11 bathrooms, and ample living space.
The property is listed for $29,999,995, making it one of the most expensive homes on the market in Illinois. It's even considered more expensive than Michael Jordan's estate. The home is located in the North Side neighborhood of Chicago, which has a median listing home price of $625,000.
This residence is not just a home, but a piece of history. The site of the property used to be the Chicago Nursery & Half-Orphan Asylum from 1872-1911 before the structure was purchased and razed to build the current home. Before it was demolished, its last tenant was the Infant Welfare Society.
Located in the Lincoln Park neighborhood, it sits in the Burling Orchard Howe district, an area known for its charm and beauty. This location offers a combination of urban living with a touch of tranquility.
The architecture of this home is equally impressive, with stunning photographs highlighting the grandeur and scale of the property. It's considered a mega mansion, offering a unique blend of luxury and comfort. According to an article published by Chicago Magazine in February 2023, the Lincoln Park mansion has been reduced 33 percent from its original $50 million asking price. It cost the owners, Richard and Michaela Parrillo, $65 million to build. They spent more than $12 million on the land alone in 2005. The couple purchased and razed the structure and now reside in Florida full time.
Given its size, location, and historical significance, 1932 N Burling St is indeed a prestigious home, presenting a remarkable opportunity for those seeking an exclusive residence in Chicago.
