J.P. Morgan Chairman slashes his selling price

JPMorgan Chase & Co. Chairman and Chief Executive Officer Jamie Dimon has slashed the asking price of his 18-room Chicago Gold Coast home from $9.5 million all the way down to $6.95 million.

The Chicago Tribune reported that the eight-bedroom, 13,500-square-foot mansion now is listed for slightly more than half of Dimon’s original $13.5 million asking price for the home in 2007. Now based in New York, Dimon, 54, paid $4.68 million for the mansion in 2000.

Features in Dimon’s mansion include nine full baths, two half baths, a master suite that takes up the entire second floor, a great room/media room, a wine vault, a gym, a two-bedroom staff quarters with a separate entrance, and a rooftop terrace.

Dimon now lives full-time in New York, where he and his family reside in a co-op unit in a grand courtyard apartment building on Park Avenue in Manhattan that he purchased in late 2004 for $4.875 million.

In April, Dimon had cut the mansion’s listing price from $10.5 million to $9.5 million. Dimon’s newest price reduction occurred on Tuesday.

When Dimon’s mansion first came on the market in 2007, it carried the highest asking price of any residential property inside Chicago’s city limits then on the market. Now, the highest-priced property on the market in the city is Bill Wrigley Jr.’s Gold Coast penthouse, which is available for $14 million.

Coincidentally, the city’s second-highest-priced property — a 13-room, 63rd-floor duplex penthouse in a Gold Coast high-rise — just came on the market this week for $11.5 million. Real estate mogul Richard Klarchek has owned that penthouse since buying it in 1995 for $2.65 million.

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