Hilbert: I'm not buying back my house

November 27, 2007
Former Conseco Inc. CEO Steve Hilbert says he isn't the as-yet-unidentified individual who has reached an agreement to buy the Carmel mansion that he built in the 1990s.

"We are not involved whatsoever in the purchase," Hilbert told IBJ.

"I have people on the street every day say, 'Hey, are you going to buy that home back?' I chuckle and say, 'No. We're happy where we are,'" he said of the smaller Carmel home where his family now lives.

IBJ reported yesterday that a sale is pending on the house and is scheduled to close this week.

The buyer is an individual who for now wishes to remain anonymous, said Judy Koehler, managing broker of Carpenter Realtors' office in Fishers. A sales associate at the office is representing the buyer. Terms of the deal were not disclosed.

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

The 40-acre estate has been on the market for two years. Conseco won control following a court battle with Hilbert over company-backed loans he used to buy Conseco stock that were never fully repaid.

The property on West 116th Street includes the 23,000-square-foot home.

Hilbert said the house is "one of the greatest homes in America. It needs to be alive."

Hilbert added that he and his wife, Tomisue, hope the new owners enjoy the property as much as they did.
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