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1 Maros Lane
Olympia Fields, IL 60461
$2,995,000
Conventional
Property
Bedroom
6
Bathroom
16
Property Type
Conventional
Square ft
21182
Property Description
Behind the iron gates, against the leafy backdrop of Olympia Fields Country Club is one of the most exclusive enclaves in Chicago's South Suburbs, 1 Maros Lane. Just 33 miles from downtown Chicago, 1 Maros Lane is an expansive compound that has been home to, and hosted, Grammy winners, Rock & Roll Hall of Famers, Songwriters Hall of Famers, athletes, and icons of business and politics. Its alluring and mysterious nature has spellbound suburbanites and citydwellers for over 25 years. The mansion had fallen to decay and ruin until 2013 when it was lovingly brought back to life by the late music legend Rudolph Isley of the Isley Brothers, and his wife, Elaine. Millions of dollars and ten years later, now is the opportunity to write the home's next chapter. Step through the double front doors into the grand foyer, where you are greeted by an awe-inspiring display of craftsmanship and elegance. Soaring ceilings, abundant natural light, designer finishes, and bespoke details that reflect a commitment to unparalleled sophistication. The gourmet kitchen is a culinary masterpiece, equipped with top-of-the-line appliances and custom cabinetry, perfect for catering to high-profile guests or spending holidays with friends and family. The expansive living spaces seamlessly blend style with comfort, providing the ideal setting for entertaining on a grand scale. One of the most iconic rooms in the house is the indoor two-story pool hall. Designed in a jungle theme with a waterfall, hot tub, grotto, club house, two story treehouse, and adjacent family room and full bath, this is the perfect place to spend endless hours relaxing, or hosting pool parties year-round.The primary suite is a sanctuary of indulgence, featuring a private lounge area, a spa-like ensuite bathroom, and multiple walk-in closets. The main floor is also complete with an in-laws suite featuring access to the pool, a bedroom, bath, and kitchenette. Additional bedrooms and guest suites offer lavish accommodations for visitors or staff, ensuring that every need is met with the utmost care-every bedroom is equipped with en suite bathrooms, walk-in closets, and views of the lush landscapes. All three levels of this home are accessible via the elevator, or multiple staircases. Entertainment knows no bounds here. The property also includes a state-of-the-art home theater, a diner, a fully equipped fitness center, quiet library, while a recently resurfaced private sport court (equipped for basketball, tennis, and pickleball) professionally lit for evening games sits among the lush gardens provide a serene escape. Other outdoor spaces across the meticulously landscaped ~4 acre estate include a pond, and al fresco dining areas that create an idyllic retreat for relaxation, or unforgettable summer parties. For those with a passion for automobiles, the property features a state-of-the-art 6 car garage (can accommodate up to 8-9 cars), an automotive enthusiast's dream. This space is meticulously designed to showcase a prized car collection, offering both storage and a showroom atmosphere, complete with a bar area and bathroom. The allure of The Isley Estate extends beyond its walls, as it is conveniently situated adjacent to the prestigious Olympia Fields Country Club. This exclusive club is renowned for its championship golf courses, world-class amenities, and a distinguished history of hosting world-class events. This haven is designed to captivate the hearts of those who crave the epitome of opulence and privacy, where every detail tells a story, where privacy is paramount and provides an escape from the hustle and bustle of everyday life. Welcome to 1 Maros Lane--where dreams transcend into reality.
Property Information
Lot Size
3 acre(s) square ft
Property Type
Residential
Year Built
1997
MLS Number
12019663
Location
Address
1 Maros Lane
City
Olympia Fields
State
IL
Zip Code
60461
County
COOK (COUNTY SOUTHWEST)
Listing
Provider
Keller Williams Chicago ONEChicago, original listing
Name
Keller Williams Chicago ONEChicago
Phone
(312) 216-2422
Office Name
Keller Williams ONEChicago
Office Phone
(312) 216-2422
Agent Name
Alex Wolking

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.