Demand for suburban McMansions is so low that some owners are practically giving them away. Take for instance this totally redonkulous 19,438 square foot home set on a 10 acre parcel of prime Barrington Hills real estate. It’s gone on and off the market since 2010, when it was originally listed for $10.5 million. Today, it can be had for $4.75 million. Its ask is now less than half of what it was when it first listed four years ago. This McMansion joins many others in the Barrington area to take huge price chops. While the value of most homes in the city have begun to rise again since the 2008 foreclosure crisis, large suburban McMansions continue to feel the hurt. The good news is, if you’ve always wanted to live the 1990s MTV Cribs lifestyle, it can now be had for about half the price.
Large home with lots of features. Yet…
1. The price may have been cut by half but it is still $4.75 million. In fact, this price reduction may not indicate that the owner is ready to give this away but rather that it was overpriced to begin with. I think the piece is trying to imply that the demand for “mega-McMansions” is low so the price was cut but we would need some more evidence before jumping to that conclusion.
2. What exactly is a “mega-McMansion”? The square footage puts this home way out of reach of the normal suburban McMansion owner as does the price. The home may not be pleasing to everyone – I’m thinking the pool room looks most desirable – but it is a scale above McMansions. Again, tying a home like this to the term McMansion is intended to add another layer of criticism that “mansion” just doesn’t add.
Legally Sociable 