List Price: $2.85 million
Sale Price: $2.3 million
The Property: Andy Bluhm, the son of JMB Realty’s Neil Bluhm and an investor in his father’s three casino projects, has sold his contemporary-styled ranch house in Glencoe. In 2004, Andy Bluhm paid $3 million for the house; his loss on the sale, which closed April 15th, was 23 percent. (The house doesn’t look like much from the street, so check out the photos of the interior and the backyard at this listing.)
Andy Bluhm is the head of Delaware Street Capital, as well as a principal in his father’s Midwest Gaming and Entertainment, which plans to open Rivers Casino in Des Plaines in July. He is also involved in his father’s Pittsburgh and Philadelphia casinos. Andy Bluhm did not respond to a request for comment on the sale of his Glencoe home.
The house, built in 1993, stands on a lot that is nearly three-quarters of an acre—“a big piece of property for Glencoe,” said Janie Bress, the Coldwell Banker agent who represented the property for Bluhm. Inside are spacious rooms—made more so by Bluhm’s removal of at least one wall after he bought the house, Bress said. “When you walk in the front door, you can see all the way through to the backyard,” she said. “It’s a wonderful house for entertaining.”
A broad art gallery, a well-outfitted kitchen, his and hers master baths, and restrained, light-toned finishes are among the key features of the interior. The rear of the house is virtually all glass, opening onto a swimming pool and a broad sweep of lawn beneath tall trees. The house is a short walk from Glencoe’s downtown and its beach.
Price Points: Bluhm put the house on the market in April 2010 at $3.1 million, but he lowered it to $2.85 million in June; the sale price is 80 percent of the June asking price. “We had hoped we would get more, but [my client] took this offer,” Bress says. “The market is what the market is.” Bress would not disclose the names of the buyers, who aren’t yet identified in public records.