IBJNews

Bid deadline looms for former Hilbert mansion

Back to TopCommentsE-mailPrintBookmark and Share

Salutations, Hilbert mansion aspirants.  Please excuse the indelicacy, but note that Friday is the last day to submit your bid or get off the bidet.

As of mid-morning, “several” bids had been submitted in the auction for the 25,000-square-foot-mansion once owned by Conseco Inc. co-founder Stephen Hilbert, said Prudential Indiana agent Greg Cooper. He declined to elaborate, saying only some bids were markedly better than others.

Cooper is co-listing agent with Dick Richwine, who heads the local real estate firm.  Technically speaking, they’ll accept bids until 11:59 p.m.—just in case would-be buyers have been on the fence and experience a change of heart after a round of Friday evening cocktails.

But have $100,000 handy. That’s the so-called "earnest money" that must be submitted with each bid.

And be prepared to deliver no less than 10 percent of the total bid within one business day, assuming, of course, that you’re the high bidder and your offer is accepted.

The Carmel-based company, since renamed CNO Financial Group Inc., has been trying to sell the mansion—which it gained control of it during a court battle over loans Hilbert took out to buy Conseco stock—for five years. It went on the market with a $20 million asking price, and more recently was listed at the bargain price of $9.9 million.

The mansion at 1143 W. 116th St. is being sold “as is,” although CNO has been paying to maintain the property. The company last month announced its plans to conduct a sealed-bid auction.

Cooper previously said the mansion has drawn interest from potential buyers such as race car teams, which often wine and dine their sponsors.

The estate includes a 15,000-square-foot “sports palace,” catering facilities, a guest house and its own power plant.

The suspense over who—if anyone—lands the region’s hottest residential property will linger after the deadline expires.

“It’s unlikely anything will be finalized until next week,” Cooper said.

But there's a caviar, er, caveat: The bid terms, at www.indianamansion.com, note that the seller “reserves the right to accept a bid prior to or after the bid submission deadline.”

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Liberals do not understand that marriage is not about a law or a right ... it is a rite of religous faith. Liberals want "legal" recognition of their homosexual relationship ... which is OK by me ... but it will never be classified as a marriage because marriage is a relationship between a man and a woman. You can gain / obtain legal recognition / status ... but most people will not acknowledge that 2 people of the same sex are married. It's not really possible as long as marriage is defined as one man and one woman.

  2. That second phrase, "...nor make or enforce any law which shall abridge the privileges or immunitites of citizens..." is the one. If you can't understand that you lack a fundamental understanding of the Constitution and I can't help you. You're blind with prejudice.

  3. Why do you conservatives always go to the marrying father/daughter, man/animal thing? And why should I keep my sexuality to myself? I see straights kissy facing in public all the time.

  4. I just read the XIV Amendment ... I read where no State shall deprive any person of life, liberty, or property ... nor make or enforce any law which shall abridge the privileges or immunitites of citizens ... I didn't see anything in it regarding the re-definition of marriage.

  5. I worked for Community Health Network and the reason that senior leadership left is because they were not in agreement with the way the hospital was being ran, how employees were being treated, and most of all how the focus on patient care was nothing more than a poster to stand behind. Hiring these analyst to come out and tell people who have done the job for years that it is all being done wrong now...hint, hint, get rid of employees by calling it "restructuring" is a cheap and easy way out of taking ownership. Indiana is an "at-will" state, so there doesn't have to be a "reason" for dismissal of employment. I have seen former employees that went through this process lose their homes, cars, faith...it is very disturbing. The patient's as well have seen less than disireable care. It all comes full circle.

ADVERTISEMENT