Side-by-side lakefront estates come with baggage...

This Chicago Tribune is reporting today that the late owner of a pair of lakefront estates, toured by HomesPlus last year, has left behind nearly $20-million in debt, stirring up a legal battle that centers around the 985 and 975 Sheridan Road properties.


When HomesPlus toured the properties last year, 985 Sheridan Road was on the market for $8.93 million, 975 Sheridan Road was listed for $5.57 million, or the properties could be purchased as a package deal for $14.5 million (so basically, they just did the math for you).  According to its Redfin listing, 985 Sheridan, the more oppulant property, has been reduced to $6.4 million, while it's neighbor has remained at its original listing price.

When we toured the homes last year, the estate at 985 Sheridan was far grander than its large, but somewhat outdated neighboring estate.  With an indoor pool, three separate basements, his and hers master suites and automatic 2-level garage system, which housed six cars in a three-car size garage by hiding three cars on a lower level activated by an auto elevator system, 985 was definitely the big brother of the two. 

Now the homes are tied up in a multinational legal battle over international businessman Mikhail Katamanin's assets. 

Read the full story here



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