”Wrigley Mansion” property tax bill jumped from $34K to $150K
The four-story, 15,000 square-foot mansion at 2644 N. Lakeview Ave. in Lincoln Park has nine bedrooms, a solarium, marble fireplaces, a coach house and a remarkable pedigree.
It also comes with a $12,500 per month property tax bill, according to Cook County Assessor data published by Blockshopper.com.
The home’s owner, Bank of America, says you can have it all for just $7.15 million.
Public records show that in 2006, two years after corporate lawyer Ted Tetzlaff paid $9 million ($11.43 million in 2016 dollars) for the home, its property tax bill was only $33,944.
But it jumped to $100,018 in 2008, then to $143,512 in 2012, after Tetzlaff listed the home for $9.5 million (but found no takers).
The bill eclipsed $150,000 in 2015.
Tetzlaff, whose career included 28 years at Jenner & Block, partnerships at McGuireWoods and Ungaretti & Harris, stints as the general counsel of Lake Forest-based conglomerate Tenneco and Chicago-based util People’s Energy and five years as Chairman at McPier, which owns McCormick Place, finally lost the home to foreclosure in 2013.
Over seven years of ownership, Tetzlaff paid approximately $600,000 in property taxes on 2466 N. Lakeview.
The mansion became something of a House of Horrors for its previous owner, as well.
Chicago real estate developer and entrepreneur Nicholas Jannes bought the home from the estate of Philip K. Wrigley in 1983, with no price publicly disclosed. The estate’s asking price at the time was $1.2 million ($2.9 million in 2016).
Wrigley, son of Wrigley Co. founder William Wrigley, Jr., bought it from his dad in 1922, at age 28. But he moved out after nine years, leaving the mansion mostly empty for the next 50 years.
After Phil Wrigley died in 1977, lawyers for his estate sought a city permit to demolish the mansion so a developer could build a high-rise on it and an adjacent vacant lot.
The estate did not ascribe much value to 2466 N. Lakeview. It estimated three properties owned by Wrigley, including a mansion in Lake Geneva and another home at 1500 N. Lake Shore Drive, to be worth a combined $300,000 ($1.2 million in 2016), according to a probate filing reported by the Chicago Tribune.
The mansion did figure into the filing for having “a large quantity of wines and liquors” including “68 fifths of gin, 48 fifths of scotch, and 24 quarts of rye whiskey,” all more than 25 years old.
Alderman Martin Oberman led a campaign to have the mansion designated a historical landmark, preventing its demolition. The estate eventually sold it to Jannes, who embarked upon an ambitious renovation project.
In a glowing 1983 Chicago Tribune Home Guide profile, Jannes reported finding assorted Wrigley family belongings during his renovation, including a lifebuoy bearing the name of the Wrigley yacht-- “WASP.”
“It’s like being an archeologist,” Jannes told reporter Kathleen Myler.
But 20 years later, in 2003, Jannes would face a foreclosure lawsuit by Palatine’s First Bank of Illinois, seeking $18 million.
Jannes listed the mansion for sale in 2004 for $14 million. He settled on Tetzlaff’s $9 million.
Joseph Theurer, who ran the Schoenhofen brewery, seller of Edelweiss beer, which was one of Chicago’s largest sellers in the 1880s and 1890s, originally built the then 40 room mansion in 1896.
William Wrigley, Jr. bought the home from Theurer in 1911.
2466 N. Lakeview Avenue Tax History
2015 — $150,325.15
2014 — $148,370.56
2013 — $145,429.64
2012 — $143,511.91
2011 — $100,327.11
2010 — $100,614.49
2009 — $94,194.66
2008 — $100,017.82
2007 — $38.614.21
2006 — $33,943.83
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