The exodus from Chicago may have begun.
As former Chicago Bulls head coach Phil Jackson made news this past week by placing his Bannockburn home on the market, Scottie Pippen has just sold the two-story Northbrook town home he has owned since 1987.
And recent reports have indicated that Pippen, who presently lives in Highland Park, has halted plans to build the $1.75 million home on Telegraph Road in Lake Forest that he was planning.
There never was much of a chance that Jackson, 52, would return as the Bulls’ coach after winning the team’s sixth championship in eight seasons last June.
Even after he announced his departure, Bulls management opened the door once more for the $6 million-a-year coach to return. Jackson’s representatives immediately slammed that door, however, and placing his home on the market for $799,000 is another signal that the Zen master wants to cut all ties to the Chicago area.
Reportedly, Jackson is going to remain out West, where he already has twin sons in school at the University of Colorado and a vacation home in northwest Montana.
Pippen’s simplification of his real estate portfolio should be greater cause for alarm for Bulls fans, however. They continue to fear that the championship team will disintegrate.
The 33-year-old forward recently sold the town home in Northbrook’s Picardy Circle development that is on the same block as one owned by Bulls chairman Jerry Reinsdorf.
The home, which was listed for almost $235,000, sold for $220,000, according to multiple listing information. The six-room, two-bedroom town home was built in 1987 and overlooks a lake. It also has a stone fireplace and family room loft.
Pippen’s real estate agent downplayed the sale, noting that while the town home was in Pippen’s name, it was used as a residence for his ex-wife, Karen McCollum.
“His ex-wife had been living in it, and she was transferring out of state,” said Patricia Strong of Koenig & Strey.
Although there is no word yet on whether Pippen has listed or will list his home in Highland Park, he reportedly may be delaying work on his proposed, nearly 14,000-square-foot contemporary two-story home on more than 10 acres on the east side of Telegraph Road.
Plans for the six-bedroom home, which would be made of large expanses of glass and limestone, were detailed in this column on June 21. Pippen’s architect, Mark Downey, could not be reached for comment.
Meanwhile, the listing price for Jackson’s home demonstrates that the coach’s wisdom off the basketball court is comparable to his intelligence on the court. He paid just $288,000 for the 12-room, five-bedroom home in 1988, virtually assuring that he will more than double his money on the place in a decade.
Appropriately, the two-story colonial has a basketball court, as well as a three-car garage and a “stunning” master bedroom with a sitting room and luxury bath.
Sandra Yanklowitz and Jeanette Petrie have the Jackson listing.
– One week after purchasing it at an auction for $183,700, the owner of a well-known but decaying four-story castle along the Fox River in Elgin says his plans for the structure–which lacks utilities, parking and proper zoning–remain secret.
“I don’t have a whole lot to say at this time,” said Paul Sommer of Elgin, who bought the medieval-looking, 61-year-old castle last weekend at 1262 Cedar Ave. “I feel apprehensive saying a whole lot before the closing.”
Clearly, the castle, with a drawbridge, dungeon and escape tunnel, needs work. Permits for occupancy and zoning approval remain two hurdles for the property, which hasn’t had a tenant for many years and which needs significant safety and structural changes before occupancy can be granted.
– Last week’s list of national entertainment figures who own property in the Chicago area contained a significant omission: Oak Parker John Mahoney, who stars on TV’s “Frasier.” Mahoney, who owns a Maple Street condominium in the west suburb, has a longstanding commitment to staying here but faces an extremely long commute. He has said that Chicago is his home, but that “my office (the Frasier set) is on the West Coast. “
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Have a tip about a home sale or a piece of property being put on the market that involved a well-known Chicagoan or a well-known piece of Chicago real estate? Write to Upper Bracket, c/o Chicago Tribune, Real Estate section, 435 N. Michigan Ave., Chicago, IL 60611. E-mail: rgoldsbo@enteract.com
