Sellers’ $15M Lincoln Park mansion listing would represent $5M loss

A retired Chicago Trading Company executive and his wife are asking $15 million for their mansion in Lincoln Park. 

Built in 2014 by Paul and Monica Kepes, the 15,000-square-foot mansion spans 4.25 city lots at 2100 Sedgwick Street, Crains reported. The property is among the high-end Chicago homes recently listed for over $10 million, joining a Gold Coast condo, a Park Tower unit, and an unfinished floor on Walton Street, the latter two linked to Citadel chief Ken Griffin.

Listed in a private agents-only network by Tim Salm and Ryan Preuett of Jameson Sotheby’s International Real Estate, the home stands apart from other properties because of its size. 

The Kepeses worked with Chicago architect Kathryn Quinn to design the home in a manner that blends in with the neighborhood’s historical aesthetics while avoiding ostentation.

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“We didn’t want it to say, ‘Look at us,’ with columns and lions,” Paul Kepes said. “We went strong with this idea of home being an oasis or sacred space where you can relax and recharge your batteries.”

The mansion features six bedrooms, multiple terraces and a rooftop with skyline views, as well as a wellness suite with a weight room, sauna and indoor waterfall. Other amenities include a vegetable gardening terrace, geothermal heating system for natural cooling, and a courtyard with a 24-foot-long fountain. 

If the home finds a buyer for the asking price, it would become Chicago’s highest-priced home sale since December 2021. Although the Kepeses are asking $15 million for their Lincoln Park home, their investment in the four-story property exceeds $20 million, including the cost of the land, Paul Kepes told the outlet. 

The Kepeses purchased the property, formerly part of the old Augustana Hospital, for about $6.3 million in 2007 with plans to keep the property small. However, they expanded the project after local landmark associations encouraged them to match the taller buildings in the area. 

Even though the Kepeses are willing to accept a loss on the property, because of Paul’s career as a trader, he understands that the sale price should reflect market conditions rather than their investment.

— Andrew Terrell

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