Former race car driver Bobby Rahal sells Lincoln Park home for just under $4M

With a final sales price of $3.9 million, Rahal took a small loss on the mansion, which he paid $3.99 million for in 2014

Chicago /
Sep.September 23, 2021 05:14 PM
Former race car driver Bobby Rahal sells Lincoln Park home for just under $4M

Bobby Rahal and Burling Street (Rahal, Google Maps)

Former race car driver and Glen Ellyn native Bobby Rahal sold his 7,000-square-foot mansion in Lincoln Park for just under $4 million.

The 68-year-old winner of the 1986 Indianapolis 500 now co-owns the Rahal Letterman Lanigan Racing team with Mike Lanigan and former late-night talk show host David Letterman, the Chicago Tribune reported.

With a final sales price of $3.9 million, Rahal took a small loss on the mansion, which he paid $3.99 million for in 2014. He first listed the home for sale in 2018 with an asking price of $5 million. After cutting the price multiple times, and even taking it off the market completely before relisting, Rahal finally sold the home. The identity of the buyer has not yet been released.

The home, which was built in 2007, boasts seven bedrooms, seven bathrooms, five fireplaces and four wet bars. The kitchen features a Wolf range with a copper barrel-style hood, side-by-side sub-zero refrigerators, four freezer drawers and two dishwashers. The room also includes a butler’s pantry.

Rahal, along with his wife, renovated the home including replacing an old wooden deck with a stone terrace that serves as an outdoor counterpart to the family room inside. The main floor of the house features a pair of grand formal rooms and a less formal living area.

A curved staircase runs through the center of the home, but a five-stop elevator is also included. Crown moldings, cove ceilings, custom built-ins and a Crestron-wired sound system also add to the value of the home. The master bedroom suite also features an all-new Christopher Peacock bathroom.
The property’s 2020 tax bill came in at $53,798.

Nearby, in Naperville, a 15,450-square-foot home just hit the market with a record asking price of $14.99 million — more than triple the record of a publicly listed home in DuPage County.

[Chicago Tribune] — Victoria Pruitt 





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