An insurance executive and his wife paid $12.55 million in December for a six-bedroom, 8,000-square-foot mansion in Lincoln Park, which is the fourth-highest amount on record that someone has paid for a single-family home in Chicago.
Public records show that Terry McCann, the president of Chicago-based wholesale insurance brokerage RT Specialty, and his wife, Eileen, were the purchasers of the mansion, which has now sold twice for more than $11 million in the last four years. RT Specialty is part of the Chicago-based Ryan Specialty Group, which is a publicly traded specialty insurance firm founded by billionaire Pat Ryan.
The McCanns bought the mansion from Andrew Killion, who is the co-founder of trading company Akuna Capital, and his decorator wife, Sandy, who sold the mansion as part of a move to Australia.
Built in 2012 by builder BGD&C, the mansion has seven bathrooms, two fireplaces, oversized windows, French doors, a walnut-paneled study, a butler’s pantry, a kitchen with a breakfast bar that seats five people and a master bedroom suite with a walk-in closet for him and her and a bathroom that has Calacatta marble. The lower level of the mansion has a guest suite, a recreation room, a gym, a gift-wrapping room, and an office.
Outside, the mansion sits on a 90-foot-wide, 0.27-acre lot, which is almost unheard of in Lincoln Park, and has a large raised terrace, a separate paved area, and a paved basketball court.
The Killions, who bought the mansion in 2018 for $11.9 million, first listed it in May 2021 for $15 million and have never lowered its asking price.
Terry McCann did not respond to a request for comment. The agent who represented the couple in the purchase, Tim Sheahan of Compass, declined to comment.
The mansion had a property tax bill of $108,825.30 in fiscal year 2020.
In Chicago history, more than a half-dozen condo units have sold for more than the amount the McCanns paid for their mansion, but the highest-priced single-family home sale ever recorded is the purchase of Governor JB Pritzker and his wife for $14.5 million. in 2006 from his current Astor Street mansion. The next highest-priced home sales within city limits are Laurie Wilson’s $13.3 million purchase of a Lincoln Park mansion in late 2015, followed by John Wilson’s $13 million purchase. Harris from a Gold Coast mansion in 2008.
The Pritzkers’ record purchase amount in 2006 tops the list of recorded home sales in Chicago history, but some newly built mansions in Lincoln Park built on land their owners already owned may well have had construction costs to match. than the Pritzkers paid. However, because those amounts were paid directly to homebuilders, those amounts are not public record.
Bob Goldsborough is a freelance writer.
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