Barrington Megamansion Back on the Market at a Discount

Let’s try this again.

A home in Barrington is back on the market, joining a slew of other megamansions competing for buyers in a softening market.

The Hawthorne Road home, according to public listing data, has been on and off the market since 2020. The sellers aren’t clear from Cook County records and their agent, Joanne Nemerovski with Compass, did not respond to a request for comment.

The 20,000-square-foot property is on nearly 10 acres and borders a private lake. Built in 2001, the home has 10 bedrooms and 11 bathrooms. Other amenities include six fireplaces, a 1,300 bottle wine cellar, in-home sauna and a two-story indoor pool and hot tub.

The Chicago area has eleven homes for sale over 15,000 square feet. That includes Michael Jordan’s Highland Park Estate that’s listed at $14.85 million, three Gilded Age estate’s on the North Shore, plus several newer homes in the western suburbs.

Many of the homes have sat on the market, or switched their listing status between on and off in recent years. An already-narrow buyer pool for multimillion dollar homes is further limited to those interested in maintaining large pieces of land. These properties are also competing with buyers interested in the growing number of high-end condos with ample amenities and are located within the heart of Chicago.

The Hawthorne Road estate is asking $6 million, which is down from $6.8 million when it was first listed in August 2020. It last sold for $3.6 million in 2014 following several price cuts from $10.5 million.

Other large homes have faced similar price cuts. A Glencoe mansion built for Pabst Brewing Company president and chairman Harris Perlstein in the 1930s returned to the market in January with a considerably lower price of $12 million. It was initially listed for $18 million, but has been on and off the market since early 2021, which led to a series of price cuts.

Chicago’s priciest listing, a 25,000-square-foot in Lincoln Park home currently listed for $30 million, has also suffered a dramatic price cut as well. It was originally listed for $50 million, which marks the largest price slash in Chicagoland history.