When you think of the Playboy Mansion, you probably think of the Holmby Hills estate that features Hugh Hefner's legendary mansion (which is really not that big - LOL) the grotto pool and other outrageous features such as a well-appointed zoo. However, if you are a true connoisseur of the Playboy brand, then you know that the made-for-TV version of the mansion is not even the original structure. The original, "Playboy mansion" is actually in Chicago!!! It is now a luxury condo building.
When Hugh Hefner owned the building, it featured a brass knocker on the door reading, in Latin of course, “If you don’t swing, don’t ring,” LOL!! The property was also notorious for its large number of animal print rugs. Now, one unit is available in the building for $2.995 million. WOW!! The unit was last sold in 2012 for $2.3 million after being on the market for only a week.
Because of the debatable “historical significance” of the property and the indisputable luxuriousness of the building today, most people do not expect 1340 N State Parkway Unit 1N to remain on the market for very long. The unit is 3,250 square feet and boasts multiple high-end customizations and finishes as well as hardwood floors throughout. The property is probably best suited as a personal home since it has not appreciated much over the years. The property has listed and sold for right around $2.2 million every time it has been on the market during the past seven years. The list price? Glad that you asked!!! It is nearly-$3 million list price and this is considered to be optimistic. However, Zillow is actually predicting that the property’s value will fall slightly in the coming months rather than appreciate.
Of course, Zillow predicted that the Zestimate® on a distressed property that I provided legal services on had a value range of $1.64M to $3.6M. Widest range that I have seen to date....Laguna Beach, CA for those that are interested in such things!!
Paddy Deighan J.D. Ph.D
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