Corgan Drops Asking Price on Chicago Condo

by Chicago Agent

Billy Corgan, the lead singer and songwriter for the Smashing Pumpkins, really wants to sell his Chicago condominium.

The singer dropped the asking price for his vintage Gold Coast condo, located in the Patterson-McCormick Mansion, 1500 N. Astor Place, from $3.55 million to $2.85 million. He originally paid $2.95 million. When he first put the condo up for sale in 2008, the asking price was $5.5 million.

The six-room, 3,700-square-foot unit includes 2 bedroom suites, two-and-a-half baths, four wood-burning fireplaces, a reception room, a library, a balcony, a terrace, Walnut herringbone wood floors, ceilings over ten-feet high and a parking space. The building is pet friendly.

According to an article on Chicagolandrealestateforum.com, the building carries a monthly assessment fee of $2,227, which includes water, parking, exterior maintenance and common insurance. Taxes on the property in 2009 totaled $20,474.98.

Corgan is an Elk Grove native and also owns a mansion on Lake Michigan in Highland Park, which cost the singer $6.8 million.

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