A 17,500-square-foot Barrington Hills mansion featured on the Fox TV series “Empire” may finally have a new owner after eight years on the market and a 53 percent price cut from its original ask.
Sitting on 8.5 acres at 45 Lakeview Lane, the mansion was listed at $7.5 million when it went under contract on Sept. 3, according to Crain’s, which reported that the sale is subject to an unspecified contingency.
Sellers Sam and Geralyn Cecola, owners of the Admiral Theater strip club on Chicago’s North Side, built the home in 2008 and initially listed it for $15.9 million in 2013. Successive price cuts had shaved the ask down to $9.5 million by 2019 and $7.5 million in May of last year.
Starting in 2014, the estate was featured as the home of lead actor Terrance Howard’s character Lucious Lyon on “Empire,” which concluded with its sixth season last year. Located between Keene and Heather Lakes, the home has six bedrooms, 11 bathrooms, a large outdoor pool, boat slip and garage parking for nine cars, according to the listing with eXp Realty’s Michael LaFido.
Should the sale go through at the $7.5 million ask, it will be the first $5 million-plus home sale in the Barrington area in at least five years, according to Crain’s.
Other suburban luxury markets have had a hard time unloading mansions. Former Chicago Bulls star Scottie Pippen cut the price of his home multiple times before it sold last month for just under $2 million after five years on the market. Pippen’s former teammate Michael Jordan has been trying to sell his pricier Highland Park mansion for nearly a decade. Originally listed for $29 million in 2012, it is currently asking $14.9 million.
[Crain’s] — Connie Kim