“That’s what the market was willing to pay,” Glen Miller, who is retired from a financial management role with the billionaire Pritzker family, told Crain’s. “We reached the point in our lives when we needed to downsize, and we sold into the market.”
Despite the multimillion-dollar discount from their original asking price, the home sold for the highest price in Bannockburn since 2007. Buyers paid $4 million for an estate on Hilltop Lane in June 2007 that they resold seven years later for $2.4 million.
The Millers sold their angular stainless steel and glass house on 5.5 acres on Telegraph Road May 3. When they put it on the market last August, they were asking $7.5 million.
By the time the mansion went under contract in March, the Millers had dropped their price to just under $4 million. It’s exceedingly rare to see sellers cut their asking price by almost 47 percent in the matter of seven months, particularly when the high-end suburban market has been red hot.
“It’s a custom-built house, very specific,” said Kieran Conlon, the Compass agent who represented the buyers. He declined to identify them and they’re not yet identified in public records, but Conlon said they were “willing to wait for their price, and they were right to do so.”
In August, Glen Miller acknowledged that the home, with multiple roof lines outside and angled ceilings inside, was unusual.
“We don’t live in a box, I’ll say that,” he told Crain’s at the time. “If you went up over our house with a drone, it would look like you were in geometry class.”
Built in 2010, the house was designed by the high-profile Chicago architect Dirk Denison. Glen Miller told Crain’s in August that he and his wife bought the 5.5-acre site, which held a rundown house, to build Wendy Miller’s vision of a hard-edged house surrounded by a soft, natural landscape.
Compass agent Jacqueline Lotzof represented the Millers, although she was with @properties at the time.