Karen Pankow, whose long-ago ex-husband (divorced since 1993!) is a founding member of the band Chicago, has placed her six-bedroom contemporary Mediterranean-style house in Malibu, Calif. back on the market, this time for $4,195,000.
In a Big Time Listings exclusive, we can report on Pankow's re-listing of her house, which is just off the Pacific Coast Highway. Indeed, Pankow, who is a neighbor of "Titanic" director James Cameron, first listed the house in April 2008 for a higher amount, as we had written at that time.
Now, Pankow has the property back on the market for a lower amount, with the house hitting the market on June 10. Built in 1993, the house has six and a half baths, a great room with limestone floors, a full bar with granite counters opening to a gourmet island kitchen, two-story vaulted ceilings, an elevator, an upper-level theater and music room, an oversized master suite with a walk-in closet and an adjacent office/gym, and large open spaces, according to listing information. The house measures either 5,447 square feet -- according to public records -- or 6,400 square feet, according to a Los Angeles Times report from last year. Outdoor features on the gated 1.539-acre property include a lap pool and spa area, lush landscaping, and a detached, ocean-view guest house with high arched windows.
"It’s an amazing place to entertain," Pankow told the Times last year. The Times reported at that time that Pankow had said that she was selling the house because her children are grown, and that she was looking for something smaller in Malibu.
Records show that Pankow paid $1,745,000 in 1998 to purchase the property.
We'll keep you posted on if this property sells at this lower price point. Stay tuned.