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Ill. home listed at $25M sells for $3.1M

Jan. 10, 2013 at 11:07 AM   |   Comments

CHICAGO, Jan. 10 (UPI) -- A 30,000-square-foot Chicago area mansion once listed for sale at $25 million sold for $3.1 million in foreclosure, officials say.

The home was sold in November to a bank trust after being on the market since 2009, the Chicago Tribune reported Wednesday.

Named the "Villa Taj," the home sat on 3.5 acres in the affluent suburb of Burr Ridge. Completed in 2009, it was notable for its gold Jerusalem limestone exterior and its neo-Byzantine Moorish revival architecture.

The owner, dentist Husam Aldairi, was pushed to sell because of financial difficulties. He dropped the asking price to $13 million in August 2010, but took the house off the market three months later.

The house was vacant in 2011 when pipes burst in second floor bathrooms, flooding the mansion with an estimated 6 million gallons of water and rendering it uninhabitable.

The house was then taken in foreclosure by the lender, which sold the estate to the bank trust.

The identity of the buyer is not known, but Napierville attorney Dennis Lindell confirmed that he represented the family behind the bank trust.

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