Bill Wrigley Jr., former chairman of Wm. Wrigley Jr. Co., has sold two unfinished penthouse condo units on the Gold Coast for $6.7 million, and he also has unloaded his 11,013-square-foot, Italianate-style Lake Forest mansion for $5.6 million.
The chewing gum heir now has divested much of the Chicago-area luxury real estate he has amassed since 2002. Wrigley, 48, took a significant haircut on the properties.
Wrigley sold his 20-room Lake Forest mansion, which he had bought for $9.9 million in 2003, to entrepreneur and classic-car enthusiast Paul J. Burt. Wrigley first listed the mansion, which was designed by architect Howard Van Doren Shaw, in 2009 for $14.5 million. He cut its asking price to $9.9 million in 2010. Last year, he twice reduced it further, to $8.5 million and finally to $6.9 million.
On the Gold Coast, Wrigley sold two of his three units on the top floor of an eight-story luxury condo building to trader Andrew Hall for $6.7 million. Wrigley had paid $10.1 million in 2002 for the building’s unfinished 13,200-square-foot top floor but never built out the space.
Wrigley first listed the entire floor in one piece in 2009 for $14 million. He then shifted gears and marketed the space as three separate units, finally selling the north portion, which had been listed for $4.5 million, and the east portion, which was not on the market, to Hall. The 3,187-square-foot west portion is listed for $4 million.
The $6.7 million sale is one of Chicago’s highest recent condo sales. Pricier sales include commodities trader Jeff Silverman’s $7.2 million purchase last year of a top-floor unit in a Gold Coast tower. Also, units in the Elysian Private Residences Tower have changed hands recently for $8.6 million, $8.2 million and $6.9 million.
Wrigley paid $11 million in 2009 for a home in North Palm Beach, Fla., and $11.5 million in 2009 for property in Aspen, Colo.
BMO exec buys mansion. Mark Furlong, BMO Harris Bank president and chief executive, has paid $4.14 million for a new 12-room neo-Victorian mansion in Lincoln Park.
Furlong, 55, became CEO last year after BMO purchased a Milwaukee-based bank that he had led.
Listed for $4.2 million, the seven-bedroom, 6,854-square-foot house has 71/2 baths, four fireplaces, an elevator, two-tiered deck, conservatory with a wet bar, nanny suite, three-car garage, four bedroom suites on the second level, and a kitchen with two islands, a banquette and butler’s pantry.