• Residential Real Estate
  • '80s pop star Richard Marx’s Lake Bluff estate sells after nearly $14 million in price cuts

    Marx and his ex-wife, Cynthia Rhodes, first put the palatial lakefront property on the market in November 2014, asking $18 million. They sold it this week for $4.2 million.?

    @properties

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    A Lake Bluff mansion owned by 1980s pop star Richard Marx and his ex-wife, Cynthia Rhodes, sold this week for $4.2 million, a deep discount from the original $18 million asking price.

    Despite the slashed price, the sale makes it the first property in Lake Bluff or adjacent Lake Forest to sell for over $4 million since January 2018 when Nancy Hughes, the widow of moviemaker John Hughes, paid $12 million for a lakefront property in Lake Forest. 

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    Marx and his then-wife bought the property in 1997 for a little more than $3.1 million. The 5-acre lakefront parcel included a grand seven-bedroom mansion built in 1931 and 400 feet of private Lake Michigan beach. They later added an 8,000-square-foot building that includes a music studio, kitchen and two bedrooms.
     
    The cost of that addition is not in public records, so it’s not possible to say whether they sold it for less than their total investment in the property. 
     
    79彩票注册网址 Marx, a native of the Chicago suburbs, had four consecutive albums go platinum in the 1980s and 1990s, with hit songs like "Should've Known Better" and "Right Here Waiting." Rhodes is a retired actress and singer, and had roles in the 1980s movies "Flashdance," "Staying Alive" and "Dirty Dancing."

    The couple met on the set of "Staying Alive," when Marx was working on the soundtrack, and married in 1989. They bought the Lake Bluff estate eight years later.
     
    The two divorced in April 2014 and listed the estate for sale in November of that year, asking $18 million. In 2015, Marx married actress Daisy Fuentes.
     
    79彩票注册网址 Marx and Rhodes could not be reached, and their listing agent, Andra O’Neill of @properties, did not immediately respond to a request for comment. Neither did the Griffith Grant & Lackie agent who represented the buyers. The buyers are not yet identified in public records.

    Lake County records do not show any change of ownership—such as one of the former spouses turning over their interest in the property to the other—and in 2018, O'Neill confirmed to Crain's that both Marx and Rhodes were the sellers. 
     
    79彩票注册网址 In 1931, society architect David Alder designed the mansion for Lester Armour, third generation of the prominent meatpacking family, and his wife, Leola. The Armours' estate was 73 acres, but in the late 1970s all but 5 acres were sold off as sites for new homes. In 1977, it was used as the set for the Robert Altman movie "A Wedding," which starred Carol Burnett and Mia Farrow. 

    An updated version of this article clarifies information about the $12 million Lake Forest sale in 2018.

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