Indianapolis Mortgage Area Mansion’s price slashed to $9.9M
Hilbert mansion’s price slashed to $9.9M
By Bruce C. Smith
bruce.smith@indystar.com
One of the most expensive homes in the Indianapolis Mortgage Area is now priced to move — or at least that’s the owner’s hope.
Conseco has cut in half the asking price for the former Carmel estate of Stephen Hilbert, the company’s founder and former chairman.
The Carmel insurer is asking $9.9 million for the 36-room mansion, down from the $20 million price listed when the property went on the market more than four years ago.
The move reflects a sluggish real estate market that has proven particularly difficult for high-end luxury homes.
“There have been more people circling,” said Greg Cooper with Century 21 Realty Group 1, which has the listing. “However, given the history on this house the last 41/2 years, getting an accepted offer doesn’t mean much.”
A $15 million deal for the mansion, dubbed Le Chateau Renaissance, fell through in 2007 after plans to use it for The Carmel Institute think tank never materialized.
Several other potential buyers have offered $9.9 million to $17 million. And several have put down large amounts of cash in escrow or paid hefty bills for inspections and other fees. But those deals also fell through.
“The potential number of buyers for a house in this price range is pretty small, but reducing the price under $10 million makes it more accessible to a number of athletes and business people who didn’t find it possible at $13 (million) to $15 million,” Cooper said.
Conseco acquired the 23,000-square-foot Hilbert mansion at 1143 W. 116th St., with more than 33 acres, in court-ordered settlements of Hilbert’s debts to the company.
Conseco also holds 46 acres on the southwest corner of 116th Street and Spring Mill Road that had been Hilbert’s. Though developers have eyed that Carmel land, no deals have closed, and the price has been cut to $110,000 an acre from $200,000.
Additional Facts
» Former owner: Stephen Hilbert, co-founder of Conseco.
» Rooms: 36.
» Structures: 23,000-square-foot residence, plus sports barn, pool and pool house, catering kitchen, guardhouse.
» Land: 33 acres that include part of Williams Creek; seven adjacent acres, 11110 Queen’s Way.
» Architect: Robbie Fusch.
» Builder: Leonard Watson.
Source: Star archives
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The Hilbert estate took 5 years to build between 89-93…
The estate contains a total of 55K sq ft.
Main house 23-25K sqft
Sports barn 15K sqft
The other 15,000 sq ft are comprised of these structures…
The caretakers residence also serves as a guest house.
The pool house/guest house.
The salon/beauty parlor.
And a PowerHouse for the Generator and Sub-station!!
The estate has a capacity for more than 8 cars.
The price of 9.9 million dollars is actually for 40 acers…This estate could not be built for twice that today. The land it sits on alone is worth in excess of 4 million dollars.
Taxes are in the 70’s per year…
DupontRegistry HAD(past-tense) a beautiful listing of this home, with many large pictures and a tour it is now GONE, i guess the indy listing agents thought it was not worth it, as it only attracted 9xx hits.
The homes next to the estate belong to some of the richest people in carmel. Including the wife of a former billionaire, and down the way on Ditch road is the Simon estate of the late billionaire Mel simon.
It has its own power sub-station, it has its own Gas fired generator, capable of powering the whole estate in case of power outages.
Its drives,courts and parking which cover around 60 thousand sq feet are all HEATED!!
It is rated for 200 amp service(real 200 amp service, not found in 99% of residences). If you want to know the two types of 200amp service just google it. Real 200amp service costs tens of thousands of dollars and requires special heavy gage underground cables. The cables are too heavy to be on a pole!!!
One has to assume that unless the furnaces have been updated, they will all need to be replaced!! Imagine how many zones and furnaces 25,000 sq feet with 12 foot celings will take. Imagine how much heat is lost through windows from 1992-93!
It is bordered by a small creek.
7 acers of land due south are there to build a guest house and a 2nd entry road to the estate, giving the estate both a north and south gate.
Original asking price was 25Mil.
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