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Hilbert mansion sale pending; buyer a mystery

November 26, 2007
An individual who does not yet want to be identified has reached an agreement to buy the Carmel mansion that once belonged to Conseco Inc. co-founder Steve Hilbert.

This morning Judy Koehler, managing broker for Carpenter Realtors' Fishers office, confirmed to IBJ that Carpenter Sales Associate Linda Genrich is representing the buyer in the transaction.

Terms of the deal, which is scheduled to close by the end of this week, were not disclosed. But Koehler said the buyer's offer was the best of four on the table. Conseco's asking price was $20 million.

Koehler said the fledging Carmel Institute, which in September submitted an offer for the property, is not the buyer.

A Conseco representative declined to comment today.

The 40-acre estate and 23,000-square-foot home are located on West 116th Street. The property has been on the market for two years.

Conseco won control of the residence during a court battle with Hilbert, its former CEO, over company-backed loans he used to buy Conseco stock but never fully repaid. The two sides settled for undisclosed terms in December 2006.
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