May 4, 2007

J.P. Morgan Chase CEO Jamie Dimon lists Chicago mansion for $13.5 million, pays $17.05 million for house in Bedford Corners, NY

Jamie Dimon, the chairman and chief executive officer of J.P. Morgan Chase & Co., has listed his 15,500-square-foot brownstone mansion on Chicago’s Gold Coast for $13.5 million.
jamie-dimon-house-i1.jpgjamie-dimon-house-ii1.jpgjamie-dimon-house-iii1.jpg

The listing, which was reported first in Friday’s Wall Street Journal, is one near and dear to our hearts, since in a previous life, we broke the story in the Chicago Tribune of Dimon having purchased the mansion in 2000 for $4.68 million—which at that time, was one of the highest home sales in Chicago history—in a private transaction. (We have pasted that story below.)

Built about 1889, Dimon’s four-story, 26-room mansion recently has been renovated, for the first time since the 1920s. It has eight bedrooms, 11 baths (nine full baths and two half baths), a 900-square-foot terrace, a two-car garage and a gazebo, according to listing information.

The Journal correctly reported today that Dimon also has an apartment in Manhattan. However, in a Big Time Listings exclusive, we can report that Dimon paid $17.05 million at the end of last year for a 30.05-acre estate in Bedford Corners in Westchester County, N.Y., according to public records. That estate, which is improved, had been listed for $19.95 million. Unfortunately, no details were available on the property itself, and it’s unclear whether Dimon plans to build a mansion on the property (which we would assume) or occupy the rural house already on it.

Chicago Tribune

October 15, 2000 Sunday, CHICAGOLAND FINAL EDITION

GOLD STANDARD;

BANK CHIEF DIMON PAYS $4.68 MILLION FOR MANSION HERE

BYLINE: By Bob Goldsborough. Special to the Tribune.

SECTION: Real Estate; Pg. 5; ZONE: C; Upper bracket.

LENGTH: 753 words

Bank One Corp. Chairman and Chief Executive Officer Jamie Dimon has made quite a splash in town since he was hired in late March to turn around the nation's fifth-largest bank.

Now, Dimon has mirrored his high-profile entrance to town with an equally impressive -- but surprisingly low-profile -- purchase of a 15-room Gold Coast mansion for $4.68 million.

Dimon and his wife, Judith, discreetly bought the five-bedroom, 111-year-old mansion in a private transaction from well-known personal-injury attorney Thomas Demetrio.

Just a year ago, Demetrio, a former president of the Chicago Bar Association, paid the highest price for a single-family property in Chicago in all of 1999 when he bought the Gold Coast area mansion for $4.2 million.

The purchase by Dimon, who will be paid at least $3.25 million in cash this year, signals a huge commitment to Chicago.

While this may not be at all surprising, given how rapidly the oustpoken Dimon has become one of Chicago's best-known executives, high-profile CEOs tend not to purchase the most expensive homes on the market, particularly since their job security isn't always high and such properties can be difficult to sell. Instead, the buyers of the highest-priced houses in Chicago often are traders or individuals with large amounts of family money.

The house that now belongs to Dimon was on the market for 292 days before Demetrio bought it last year, but it remains unclear for just how long Demetrio had been considering selling it. At one time, Dimon was rumored to be shopping for homes in Lincoln Park.

Local brokers said Dimon paid a fair price for the mansion, which sits on a desirable corner lot. The recently renovated, four-story mansion has a roof deck, game room, exercise room, two staff apartments with private street entrances, high ceilings, wood floors, large bedrooms and a 2.5-car garage, according to listing information from last year.

One of the mansion's former owners in the 1980s was Charles Murphy, the former executive of the Graham Foundation for Advanced Studies in Fine Arts.

It's not known whether Dimon will sell his co-op on New York's Upper East Side. That 71-year-old building last year became nationally known when author Anne Roiphe named a popular childhood memoir that she wrote after the building's address.

Separately, Bank One's new chief financial officer, Charles Scharf, whom Dimon hired shortly after taking over at Bank One, just paid $1.05 million for a condo on Lincoln Park West.

Share This Post
Please enable Javascript to comment on this blog

Sites We Follow