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On a Lighter Note...Playboy Mansion for Sale?

By
Real Estate Technology with http://www.medicalandspaconsulting.com

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.

Playboy Mansion Chicago

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

http://www.medicalandspaconsulting.com

William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

This is another example of why we need to educate the public about the evils of the 3rd tier sites that have such poor information

Sep 08, 2014 11:56 AM
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

Gives new meaning to the phrase "dust bunnies.'  Will be interesting to see how long it is on the market.  Is there anything in he building now that notes its illustrious past history?

Sep 08, 2014 12:06 PM
Paddy Deighan MBA JD PhD
http://www.medicalandspaconsulting.com - Vail, CO
Paddy Deighan J.D. Ph.D

Susan, I think that there are some artifacts from the Playboy days...a door knocker for example...I was appalled at the price..rooms are small and tight..no yard etc and not on the Lake!!

Sep 08, 2014 12:10 PM
Praful Thakkar
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale

Paddy Deighan JD PhD - now that's Zestimate which can be off by some huge percentage - so you see the huge range, too....lol!

Sep 08, 2014 01:42 PM
Bill Reddington
Re/max By The Sea - Destin, FL
Destin Florida Real Estate

Growing up in Chicago have been by the Playboy Mansion many times. My first summer job was at the Playboy Club in Lake Geneva, Wisconsin. My Father was one of the Key Holders at the Playboy Club in Chicago. Lots of memories there.

Sep 08, 2014 02:11 PM
Ron Saporito, Palm Desert, CA Real Estate & Mortgage Broker Since 2003
Ronald Christopher & Associates. Proudly serving Palm Desert, La Quinta, Indio, Coachella, Rancho Mirage, Palm Springs. - Indio, CA
Call (760)574-8486. www.JustListedinPalmDesert.com

Interesting history, I had no idea. I guess I'm not a true connoisseur LOL. Thanks for sharing.

Sep 08, 2014 02:40 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Do they come with bunnies?  

Sep 22, 2014 09:50 PM
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

Susan is too funny --Gives new meaning to the phrase  "dust bunnies"

It will be interesting to see who buys this property.

Oct 05, 2014 01:21 PM