Historic Gold Coast Mansion Returns To Market For $21 Million

One of Chicago’s most storied residential estates is making another run at a record-breaking sale. The Gold Coast mansion, owned by prominent local personal injury attorney Paul Faraci, has returned to the market with a $21 million price tag. Now represented by a new agent, the property currently stands as the most expensive active residential listing in the city.

The historic home is a rarity in the Chicago market, offering a level of square footage and architectural detail that is difficult to replicate in the dense Gold Coast neighborhood. Its return highlights the ongoing flux in the ultra-luxury segment, where properties at this price point often require significant patience and specific marketing strategies to attract a select pool of global buyers.

Real estate observers are watching this listing closely to gauge the appetite for high-end urban estates as the spring market heats up. A sale near the asking price would represent a major benchmark for the local luxury sector, which has seen varied results for mega-mansions over the past year. Whether the change in representation can bridge the gap between the seller's expectations and buyer demand remains to be seen.

This report is based on information from The Real Deal.