The Gilded Age Chicago home of chewing gum tycoon William Wrigley Jr. has found a buyer, positioning the historic house for revival after years of neglect that ended in foreclosure.
The nine-bedroom Italian Renaissance mansion went into contract on Friday, according to listing records. The buyer’s identity and sales price won’t be in public records until the sale is closed. Listing agent Anthony Disano did not immediately return request for comment.
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Bank of America is selling the historic home after seizing it from its previous owner, high-profile lawyer Ted Tetzlaff, last year, according to property records.
The pending buyer is likely getting a deal on one of the most recognizable homes in Chicago. Before foreclosure, Mr. Tetzlaff was at one point asking $9.5 million for it.
The bank is selling for nearly half that, at $4.9 million. Bank of America did not immediately return request for comment.
Joseph Theurer, owner of the Schoenhofen Brewing Co., hired famed architect Richard Schmidt to build the three-story brick mansion in 1896.
Theurer sold the home to Wrigley in 1911, and the family lived there for two decades. But a spate of kidnappings and robberies during the Great Depression, including the murder of pilot Charles Lindbergh’s son in 1932, eventually drove the family to leave their well-known address for fear of becoming a target.
Vacant for decades, the mansion on Lakeview Avenue remained in the family long after Wrigley’s death and the death of his son and heir Philip Wrigley.
The home, clad in elegant baroque terracotta tile, opens into a dramatic foyer with mosaic tile floors, mahogany woodwork and a sweeping staircase. While unlived in for many years, the home is well preserved, according to photos of the home, with a butler’s pantry, solarium and spacious master bedroom. The home also has a walk-in vault, game room and staff quarters, according to the listing with Mr. Disano of Parkvue Realty Corporation.
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