ELITE STREET | By Bob Goldsborough | Former Chicago Bulls forward-center Ben Wallace, now with the Detroit Pistons, has taken a significant loss on his 6,983-square-foot, traditional-style mansion on 1.74 gated acres in Lake Forest, selling it on Thursday for $2.0575 million.
With the Bulls from 2006 until a 2008 trade to the Cleveland Cavaliers, Wallace, 35, lost almost $1 million on the five-bedroom home, which he purchased in late 2006 for exactly $3 million.
Wallace first listed the mansion for $3.295 million in January 2009,
later cutting his asking price to $2.994 million, then to $2.49 million
and finally to $2.39 million before accepting a sale offer.
Built in 2005, the 14-room, stone and slate mansion has five full
baths, three partial baths, a cherry library, a custom staircase, a
gourmet kitchen with a butler’s pantry, a four-car heated garage and no
fewer than eight fireplaces. The house also has a finished lower level
with a rec room, wine cellar, billiard room and bar room.
The name of the buyer of the mansion has not yet appeared in public records.
why is deemed news?
Who cares???
THIS IS NOT NEWS
Think he ever spent any time in the cherry library?
Detroit’s gain (Ben to the Bulls) is the Bulls’ loss – The Bulls’ gain (Ben back to Detroit) is the Pistons’ loss. Ben loses $1 million in the housing crunch. Ben’s loss. End of non-story.
Big deal. A regular joe, me, lost over $100,000 on my house recently and that $100k is a lot more money to me than the $1m is to Ben ‘I played like sh&^ for the Bulls’ Wallace. Considering he stole the money the Bulls paid him, I’d say he broke even after taxes lol.
“A regular joe, me, lost over $100,000 on my house recently.”
Sounds like you’re a little richer than most regular joes. Or you made an extremely bad investment.
I just want to thank the Trib for running celebrity real estate stories. I’m curious about them and I think they do qualify as news stories of interest. Here’s a PRO TIP to the two or three people who keep posting “WHO CARES?” comments to these stories: the great thing about news websites is you get to select the stories that interest you by clicking on them. If you know they’re not news of interest to you, the best way to express that is by not clicking on the story. Click-counts and comment-counts are more important in determining what stories get run and featured where on the website than “This is not news” comments.
Oh, Well, easy come easy go.
Awesome story! Looks like he really had to “Ben”d over on that sale!
Ben should’ve taken it from Scottie … Pippin (houses) ain’t easy!
Funny how Ben came to the Bulls for an additional $3 million than what the Piston’s were offering him. He had a miserable career here and was traded twice before landing back with the Pistons where he had a great year again. Now he has lost one of the additional $3M.
Why is this news???
it must be news- you all took time to comment and read it……..
He’ll write it off on his taxes
It is a tough market . Nothing goes up forever.
He can afford it after stealing all that money from the bulls, what was it 12 mill a year?
$1 Million is nothing compared to what the Bulls wasted on him!!
Math Lesson
If he lost a million on it, the sale price must be $2,000,000. If the sale price was $2.39M then he lost $610,000. He cannot lose money he never had, ie the $3.3M original offer.
stick to the chicago magazine for this type of info.
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