Michael Tadin Jr. Lists Chicago Lakeview Mansion for Over $8M

Chicago businessman Michael Tadin Jr. is selling his Lakeview mansion, asking $8.5 million — a price that, if realized, would set a new record for a single-family home sale in the neighborhood.

The 9,100-square-foot house at 3026 North Lake Shore Drive, with seven bedrooms and eight bathrooms, hit the market Sunday, priced at $929 per square foot, according to the listing. The home sits on a large 10,428-square-foot lot facing Lincoln Park with the Lake Michigan lakefront steps away.

The lot size and location are primary drivers of the home’s lofty asking price, said listing agent Brant Booker, an agent with Jameson Sotheby’s International Realty. It’s among the largest lot sizes in Lakeview and Lincoln Park, and its spot on Lake Shore Drive is the closest thing to lakefront real estate that exists in the city.

“That location is a hidden gem that a lot of people aren’t familiar with,” Booker said. “It brings a lot of outdoor living and city components that everyone likes into play at that location.”

The home is one of fewer than 10 single-family homes on the 3000 block of Lake Shore Drive, Booker said, which is largely populated by condo and apartment buildings.

Tadin, a construction executive and real estate developer, told The Real Deal he had purchased another home in Chicago and is currently remodeling it. His children are in their teens and after a decade in the Lake Shore Drive home, he wanted something new, he said.

“I have a great house, but I’m just ready for a change,” he said.

Tadin and his wife, Natalie, purchased the empty lot more than a decade ago, and he said he started building the home in 2013 or 2014. The listing says the home was completed in 2017. The transaction document for the main lot isn’t available in property records, but the Tadins took out a $1.3 million mortgage on that parcel in 2015, according to county property records.

In 2021, they bought the adjacent parcel for $1.8 million, property records show. That parcel now includes a half basketball court and outdoor covered patio with a fire pit, according to listing photos.

Tadin declined to share how much he spent building the house. But he estimated that building the same house today would run $10 million to $12 million, and estimated his land value is about $4 million.

“There’s really not much like it in the city,” Tadin said.

Tadin owns MAT Asphalt, a Chicago-based asphalt and construction company. Illinois business records also show him as a manager for several real estate development entities.

Tadin’s company purchased the Damen Silos — a historic and long-vacant grain elevator complex in McKinley Park — for $6.5 million in 2022. At the time, The Real Deal reported he planned to build a new company headquarters on the site. Recent reporting indicates the silos have been demolished.

He is the son of Michael Tadin Sr., a politically-connected trucking executive who was caught up in the Hired Truck scandal during Mayor Richard M. Daley’s administration, in which trucking companies were accused of overbilling the city for little to no work, according to the Chicago Sun-Times. The elder Tadin’s contracts with the city drew scrutiny, but he was never charged with wrongdoing.

The four-story brick, stone and limestone home includes a kitchen with custom cabinetry and a built-in breakfast banquette, and a great room and dining space on the main level, according to listing information. The primary suite on the third floor includes a fireplace, spa-like bathroom and an office. The top floor holds a bar and entertainment lounge, a workout room and two rooftop decks. The lower level includes a media room, a wet bar, and access to a three-car garage, according to listing information.

If the home gets anywhere near its asking price, it would set a record for the Lakeview neighborhood. The record for the 60657 ZIP code was set in March when the home at 1515 West Wolfram Street sold for $6.5 million. That sale price matches a 2022 sale of a home at 4130 North Greenview Avenue, and no home has sold for more in Lakeview.

Tadin’s home has a private walkway and staircase running through a city-owned patch of Lincoln Park that leads to the front door, and it carries an agreement with the city to access that walkway. The Chicago Park District’s inspector general previously accused Tadin of putting hedges around the parkland in order to cut off public access, Block Club reported.

Tadin said the hedges are now gone and the dispute has been resolved. The grant of privilege for the walkway, which includes fees paid to the city, will be transferred to the new owner, he said.