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. I always giggle when I read comments from people complaining that a market is "too saturated" with one thing or another. What does that even mean? If someone is able to open and sustain a new business, whether you think there is room enough for them or not, more power to them. Personally, I love visiting as many of the new local breweries as possible. You do realize that most of these establishments include a dining component and therefore are pretty similar to restaurants, right? When was the last time I heard someone say "You know, I think we have too many locally owned restaurants"? Um, never...

  2. It's good to hear that the festival is continuing to move forward beyond some of the narrow views that seemed to characterize the festival and that I and others had to deal with during our time there.

  3. Corner Bakery announced in March that it had signed agreements to open its first restaurants in Indianapolis by the end of the year. I have not heard anything since but will do some checking.

  4. "The project still is awaiting approval of a waiver filed with the Federal Aviation Administration that would authorize the use of the land for revenue-producing and non-aeronautical purposes." I wonder if the airport will still try to keep from paying taxes on these land tracts, even though they are designated as "non aeronatical?"

  5. How is this frivolous? All they are asking for is medical screenings to test the effects of their exposure. Sounds like the most reasonable lawsuit I've read about in a while. "may not have commited it" which is probably why they're suing to find out the truth. Otherwise they could just ask Walmart, were you negligent? No? OK, thanks for being honest.

ADVERTISEMENT