• Residential Real Estate
  • Another C-suite alum taking huge loss on North Shore mansion

    The retired chairman of R.R. Donnelley put his Winnetka mansion on the market for about three-quarters of what he paid for it 23 years ago.?

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    79彩票注册网址The retired chairman of the R.R. Donnelley printing firm put his Winnetka mansion on the market for almost one-quarter less than the price he paid for it in 1997.

    William Davis, who retired as chairman, president and CEO of the Chicago-based printing giant in 2003, 79彩票注册网址put his six-bedroom, 8,300-square-foot French Provincial home on the market March 9, asking $2.25 million.

    That’s 23 percent below what he paid for it 23 years ago, shortly after taking the top seat at Donnelley. Davis and his now-deceased wife, Judith, bought the Woodley Road house for $2.93 million in August 1997, according to the Cook County recorder of deeds.

    79彩票注册网址That 1997 purchase price is the equivalent of paying $4.7 million 

    79彩票注册网址The Woodley Road house was new when the Davises bought it, built by Charles Page, a prolific architect and builder on the North Shore from the 1960s until the 2000s. (Page died in 2018.) Set on a little more than 1.1 acre in the prestigious Indian Hill Club, the house has extensive wood trim, including arched interior doorways, beams in the kitchen ceiling and a paneled family room.

    There’s a four-car garage, and the roof and climate systems have all been updated within the past decade, according to Tripton’s listing.

    Davis could not be reached, as his listed phone number has been disconnected. His listing agent, Bonnie Tripton of @properties, declined to comment.

    Davis isn't the only C-suite alumnus losing money on a North Shore mansion. 

    In February, James McNerney, the retired chairman and CEO of Boeing, put his Lake Forest mansion on the market for almost $3 million less than he paid for it in 2006. Two former Sears CEOs, Alan Lacy and Aylwin Lewis, have both sold Lake Forest mansions at big losses in recent years. In October, retired Illinois Tool Works CEO James Farrell sold his Lake Forest estate after $4 million in price cuts. 

    Steven Preston, a former Cabinet official for President George W. Bush, also sold at a loss when leaving Winnetka to take the CEO position at Goodwill Industries in Maryland. 

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