Billionaire Mark Walter, who is the founder and CEO of Guggenheim Partners and the part-owner and chairman of the Los Angeles Dodgers, and his wife, Kimbra, in January sold a three-story, 6,704-square-foot mansion in Lincoln Park for $4.2 million.
The contemporary-style home, which had not been publicly listed, is not far from the Walters’ current residence, which is a 26,000-square-foot mansion that they built in the 2010s and now occupy. They built their current mansion across five city lots that they assembled over time, purchasing the land for a total of $9.1 million.
Once the Walters occupied their current mansion, the couple no longer needed the mansion they just sold, which the Walters purchased in 2003 for $3.92 million. A source familiar with the matter told Elite Street that the mansion that they just sold required a meaningful amount of renovations, so when the couple received an offer, they opted to sell it instead of proceeding with a renovation project.
The buyer of the Walters’ former mansion is an opaque land trust whose beneficiary could not be determined. Because it was an off-market deal, few features of the mansion that they just sold are available, and it’s also not known yet whether the buyer plans to keep and renovate the Walters’ now-former mansion or demolish it.
The mansion that the Walters just sold had a $96,522 property tax bill in the 2022 tax year. Meanwhile, the Walters’ current mansion had a $575,705 property tax bill in the 2022 tax year.
Goldsborough is a freelance reporter.