$2M Price Cut For Winnetka Mansion Built For Over $40M

WINNETKA, IL — The asking price of one of Winnetka's priciest mansions, which was originally listed for $32 million, dropped below $10 million this month.

The 27,000-square-foot French-style property was custom built for real estate investment CEO Sherwin Jarol and his wife Deborah by Richard Landry, a California-based architect known for designing unique celebrity manors. The Jarols spent more than $41 million to build and furnish the vast home, known as Le Grand Reve, located on more than 2 acres in west Winnetka.

The six-bedroom limestone estate includes a pool, elevator, wine cellar, 10-seat theater, fountain, spa, chandeliers, a screened porch and patio, 11 fireplaces and exquisite spaces for entertaining.

The Jarols tried putting the house up for auction in 2011 but were unable to find a buyer. According to the office of the Cook County Assessor, the estimated 2017 market value of the home is $11,082,060.

• Check out more photos from 68 Locust Rd. at its Realtor.com listing

In May, its price was dropped from $13 million to $11.9 million, then in October, the price fell before $10 million for the first time.

• Address: 68 Locust Rd, Winnetka, Illinois
• Price: $9,999,999
• Square Feet:
• Bedrooms: 6
• Bathrooms: 6 Full and 4 Half Baths
• Built: 2008
• Features: This Bel Air meets the North Shore estate is now under $10m. 68 Locust is masterful creation by the one & only Richard Landry who has created some of the most notable celebrity homes from Malibu to Laguna California. Set on over 2 acres of award winning landscaped designed grounds, this home has one common thread woven throughout,'quality' abound in every inch of this home. With 6 beds, garages for 9 cars, spa room, gym, theater, wine cellar room w/pebble stone floors complemented with a handcrafted restaurant quaility bar, pool and spa, this is the'ultimate' entertainment destination. Experts Mick DeGiulio, Howard Design Group of Miami, John Kny Interiors, Radiance Lighting & Scott Byron all brought this house to the utmost level of beauty. 68 Locust was designed w/a budget that doesn't exist in today's market making it the BEST home for someone that appreciates excellence at a fraction of the total cost. Opportunity knocks for those who'get' what construction is really about!

This listing originally appeared on realtor.com. For more information and photos, click here.