I'm sorry, it was only 6.8 million. Added it to his 3 million dollar condo.
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Corgan pays $6.8 million for mansion on the lake
Posted by admin on January 22, 2004
Former Smashing Pumpkins and Zwan founder and solo rock star Billy Corgan has paid $6.8 million for an 18-room lakefront mansion in the northern suburbs that was designed by celebrated architect David Adler.
Built in 1926, the seven-bedroom Normandy chateau-style mansion sits on more than 6 acres and first was listed in 2000 for $11.9 million. It later was reduced to $9.5 million, then to $8.5 million and finally to $7.5 million before its sale.
The house has a music room, garden room, gallery, great hall, seven fireplaces and 6½ baths, French parquet flooring and Chinese wallpaper, according to listing information. The property has 354 feet of private beach.
The sellers had owned the mansion since 1946 and Corgan is only the home's third owner, according to listing agent Honore Frumentino of Koenig & Strey.
Corgan is no stranger to Adler's work, having paid $2.95 million in 2002 for a renovated, 3,500- square-foot, six-room, full-floor condo in an Adler-designed building on the North Side that once was a mansion. At that time, Corgan's tour manager and spokesman, Tim "Gooch" Lougee, confirmed that the singer-songwriter was staying at the condo but had intended to lease out the unit. It's not clear whether Corgan plans to reside in both homes.
The rocker previously lived in a Victorian painted lady on the North Side that he bought in 1993 for $455,000 and sold in 2000 for $1 million.
Corgan could not be reached for comment, and Lougee did not return a telephone call.
Frumentino, who would not confirm the buyer's identity, said, "The sellers are very, very thankful that they sold it to a passionate preservationist. They're pleased that the house will remain in all its glory and will remain intact."
Corgan's purchase price is the 10th highest for a home here, surpassed by:
â?¢ The $12 million sale of a lakefront house on the North Shore in 2000
â?¢ The $11.45 million sale of that same property in 2001
â?¢ Two $10 million-plus condo sales on the Gold Coast in 2002
â?¢ The $9.9 million purchase last year by Wm. Wrigley Jr. Co. CEO Bill Wrigley of a north suburban lakefront mansion
â?¢ The $9.5 million sale of former MarchFirst CEO Robert Bernard's North Side mansion in 2002
â?¢ An investment banker's $9.5 million purchase of a mansion in Winnetka in 2002
â?¢ The $8.5 million sale of a lakefront house in Wilmette in 2002
â?¢ The $7.95 million sale last summer of White Sox slugger Frank Thomas' west suburban mansion.
In addition, Corgan's purchase is the highest price on record that a celebrity has paid for a Chicago-area house, surpassing the $4.79 million author Scott Turow paid in 2001for a north suburban lakefront house.
However