22,800-sq.-ft. Mansion On Mercer Island’s North Shore Just Outside Seattle and Bellevue Offered For Sale In Sealed-Bid Format
CHICAGO, IL – A majestic 22,800 
square-foot waterfront estate situated on the north shore of Lake Washington’s Mercer Island just outside Seattle and the City of Bellevue is being offered for sale in a sealed bid auction by Sheldon Good & Company, A Racebrook Portfolio Company, in association with G.A. Strunk Group, licensed Washington broker. Previously listed at $40 million, the home will be sold subject to a qualified minimum bid of $15 million.
The Mediterranean-inspired, three-story mansion lies on two manicured acres. The property includes a multitude of formal and informal living spaces, including two master suites, four additional guests rooms, sumptuous master bath salon, three kitchens, personal workout gym, two wine cellars and an indoor sixty-six foot salt water pool, according to the New York-based, national real estate auction firm.
The sealed-bid deadline is April 14, 2010.
“The real estate auction is a smart business strategy to sell and acquire truly unique trophy homes. Those on both sides of the auction, purchasers and sellers alike, have come to find tangible value in this marketing and sales method,” according to Craig Post, managing director of Sheldon Good & Company.
Mr. Post added: “The auction is now utilized with credibility and confidence for real estate sales and acquisitions in the same way it is for fine art, gold, jewelry, wine, and other rare collectibles. The auction allows the seller to find the market value of the property with buyers naming their price.”
Interiors are defined by the finest natural materials and meticulous attention to detail, from gold leaf cove ceilings and silk wall treatments to Italian marble and hardwood floors. The grandeur of the living space is exemplified by its centerpiece, a one-of-a-kind 12-foot Chihuly Chandelier in the Grand Entry.
Outside, the R. David Adams-designed grounds are a palate of textures and colors year-round, blending masterfully with the mansion’s graceful French limestone and stucco exterior façade. Carefully-planned, the estate is cohesively unified with its landscape and perfectly situated to ensure stunning views of Lake Washington, Seattle and beyond from every window.
The sprawling, lush grounds at the Mercer Island home also feature a sizeable greenhouse, formal outdoor pool with fountains, meandering walking path leading to the lakefront, a stocked trout pond, and a deep water dock that previously accommodated a 140-foot yacht.
Mercer Island is situated just east of downtown Seattle and west of Bellevue, offering quick access via Interstate 90 to some of the State’s most popular entertainment, business and cultural epicenters. Local boutiques, shops and services can be found on the Island.
A Bidder’s Information Packet priced at $75 is a requirement for bidding, as well as a certified or cashier’s check totaling five percent of the total bid. Sealed bids are due at Sheldon Good & Company’s Chicago office by 2:00 pm Pacific Standard time on April 14th, 2010 and should be delivered to Sheldon Good & Company, Attention: Mercer Island Project Manager, 333 West Wacker Drive, Suite 400, Chicago, IL 60606.
Interested bidders can view the estate by appointment only. For further information, please contact Sheldon Good & Company at (800) 315-2199, or visit ¬ http://www.sheldongood.com/mercerisland.php.
About Sheldon Good & Company
Sheldon Good & Company (www.sheldongood.com) is the nation’s premier real estate auction firm. Founded in 1965, the company has sold over 40,000 properties in all asset classes via real estate auction. Our innovation is widely acknowledged by prestigious publications such as Forbes, Fortune, The Wall Street Journal and others. Owned by Racebrook Capital, a private equity firm, Sheldon Good & Company’s headquarters are located in New York City, with primary offices in Chicago, Denver, Scottsdale and San Francisco — and strategic locations nationwide.
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