IBJNews

Lucas Oil owners to buy former Hilbert estate

Back to TopCommentsE-mailPrintBookmark and Share

A buyer finally has been found for the 25,000-square-foot Carmel mansion once owned by Conseco Inc. co-founder Stephen Hilbert.

Lucas Oil Products Inc. owners Forrest and Charlotte Lucas confirmed Wednesday afternoon they were buying the massive estate from CNO Financial Group for $3 million, a steep discount to the original $20 million asking price.

Forrest Lucas, a native of Corydon, is a former truck driver whose company signed a $122 million, 20-year naming-rights contract for the home stadium of the Indianapolis Colts in 2006.

“I believe it is a sound business investment," Forrest Lucas said in a prepared statement. "But more importantly, I consider this property to be a true work of art which should be preserved and shared. This is an asset with enormous potential not only for Lucas Oil but also for the community. I anticipate that this property will be utilized for various business activities as well as community functions. We have not figured it all out yet but we have a talented group of people dedicated to developing a business plan to make the best use of this investment.” 

A sealed-bid auction for the 33.6-acre estate held in August attracted a half-dozen potential buyers.

Charlotte Lucas said she didn't know if the estate would be used as a residence.

“I see this as the perfect site for occasional fund-raisers and benefits," she said. "The property is so amazingly beautiful, with plenty of room to accommodate just about anything.”

Carmel-based Conseco, since renamed CNO, had been trying to unload the mansion—which it gained control of during a court battle over loans Hilbert took out to buy Conseco stock—for five years. Once valued at $35 million, it went on the market with a $20 million asking price, and more recently was listed at $9.9 million.

Following the auction, Prudential Indiana agent Greg Cooper, who co-listed the property, declined to elaborate on details of the offers, only saying that “we’ve had multiple bids over a wide range of prices.” But he acknowledged that most were submitted by local bidders.

Bids called for $100,000 in so-called “earnest money” to be submitted. And the high bidder whose offer was accepted must have delivered no less than 10 percent of the total bid within one business day.

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

Built in 1993, the estate includes a 15,000-square-foot “sports palace,” catering facilities, a guest house and its own power plant.

Lucas has made several creative business deals since launching his California-based specialty oil products company in 1988.
 

ADVERTISEMENT

  • hilbert home
    ck. price he paid.
  • Can I Stay there?
    Mr. Lucas said that he would use the estate to entertain family, friends, business associates and customers. well, I bought some "Lucas Transmission Fix" once, can I stay there, for a week?
  • would it sound to say I work at the Lucas Estate??!!
    This is more of a inquirey than a comment. Will there be career opporunities available? What a beautiful piece of property...
    • Congrats, Forrest and Charlotte
      For showing real class and negotiating THE asset purchase of the year. Notice how no one is clamoring to bid on Tim Durham's loser of a house--at least the Hilbert's had taste. PS, Jim Cochran AND Tim Durham are both now in foreclosure, guess when stolen money dries up you have to get a real job like the rest of us. Hope their real jobs are cleaning prison toilet soon!
    • Right
      Oh thats too bad because all the downtown tax paying residents already paid for all of your new construction in carmel. Try looking online and compare whose paying more taxes.
    • Welcome Back
      Hey Forest,

      We have a nice headquarters campus ready for you downtown when you want to move your company back to Indiana.
    • Tax Appeal Cont.
      That would drop his annual RE tax from $263,285 to a measly $71,212
    • Tax Appeal
      If I was Mr. Lucas, I would be filing for a tax appeal today, property is assessed for a total of $11,091,600. At $3 Million, he would save 73% on his taxes.
      • Already announced....
        Forest Lucas
      • Training Conference Center
        Maybe its going to be Dolce hotel and conference center that caters to Eli Lilly, paid for with Carmel taxpayers money;)

        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. Uh, sorry Johnnie, but you are incorrect. Despite the assertions by yourself and various defenders and captains, sports attendance is NOT off significantly at most sporting events in the US. Variances in attendance has been in the range of single digits, both + & - for years now. MLB has had most of its best overall attendance nubers in the last decade, and that trend has been consistent for most major sporting events. The number one issue cited by most fans when asked about attendance is the overall cost of attending. The presence of HD and big screen televisions in home doesn't even register, as a factor for not attending an event. VALUE in the product is the key, and apparently is something lacking in the current ICS. What other explanation is there when with what is routinely touted as the "best" racing on the planet, fans are staying away in DROVES. A "close" title battle into the last event at Fontana, with the "cars and stars" of the ICS, and who showed up? MAYBE 8K. Sorry, but HD TV isn't to blame for that kind of fan apathy.

        2. Do you need finance to establish your business ? Are you interested in getting a loan at 3% from our private company? If so please Email: suntrust_oil@blumail.org

        3. If she was worth the $ the public outcry over direct tv dropping them would have kept them on their dishes as we have seen with other companies. I too quit watching channel 13 after she showed up since I left channel 8 because of her all show rather than production results. When Randy on 8 corrected her she had a big head and incorrectly challenged his correction for pronunciation of a city. Other antics while she matures was too much for me with her very inaccurate forecasts. All the forecasters were predicting rain until Thursday except Chris. They predicted sunny on Thursday but instead of rain until Thursday upon which the sun would finally make it out in full glory Chris was right on the money just as I too predicted looking at the radar on weather.gov. One thing I love about Angela is the fear you can see in her every time it thunders in the winter. It far exceeds the entertainment value of her body language (high heel noise drags, depression, etc) when her forecasts are so incorrect. Her hair stands on end, you have to see it!!!

        4. Good Day, Apply For A Loan I am Mr Fernadez Antonio, a private Loan lender and a cooperate financial for real estate and any kinds of business financing. I also offer Loans to individuals, Firms and cooperate bodies at 3% interest rate We offer any kind of loans. email us via fernadezloaninvest@outlook.com LOAN APPLICATION FORM First name:......................... Middle name:......................... Last name:........................................ Date of birth (yyyy-mm-dd):....................... Gender:........................................... Marital status:................................... Total Amount Needed............................... Loan Duration.................................... Address:.......................................... City:............................................. State/province:................................... Zip/postal code:.................................. Country:.......................................... Phone:............................................ Fax:.............................................. Mobile/cellular:.................................. Monthly Income.................................... Occupation:....................................... Best Regard, Mr Fernadez Antonio.

        5. i will love to share my testimony to you all the people in world i got married to my husband about 2 year ago we start having problems at home like we stop sleeping on the same bed,fighting about little things he always comes home late at night,drinking too much and sleeping with other women out side i have never love any man in my life except him. he is the father of my child and i don't want to loose him because we have worked so hard together to become what we are and have today .few month ago he now decided to live me and the kid,being a single mother can be hard sometimes and so i have nobody to turn to and i was heart broken.i called my mom and explain every thing to her,my mother told me about DR.okoro how he helped her solve the problem between her and my dad i was surprise about it because they have been without each other for three and a half years and it was like a miracle how they came back to each other. i was directed to DR. okoro on his email:okorospell@gmail.com and explain everything to him,so he promise me not to worry that he will cast a spell and make things come back to how we where so much in love again and that it was another female spirit that was controlling my husband he told me that my problem will be solved within two days if i believe i said OK So he cast a spell for me and after two days my love came back asking me to forgive him i Am so happy now. so that why i decided to share my experience with every body that have such problem contact Dr okoro the great spell caster on his email addresses spellcasterforlove@outlook.com

        ADVERTISEMENT