The nine-bedroom, 25,890-square-foot mansion in Oak Brook that baseball Hall of Famer Frank Thomas once owned sold on Friday for $2.3 million.
The nine-bedroom, 25,890-square-foot mansion in Oak Brook that baseball Hall of Famer Frank Thomas once owned sold on Friday to an undisclosed buyer for $2.3 million.
Even though the 41-room, contemporary-style mansion sold for fully $1 million less than its asking price, the sale nonetheless is the second-highest-priced sale in Oak Brook in 2016. The only higher-priced residential sale in Oak Brook this year was the $2.85 million sale in July by former Kraft Foods General Counsel Kim Rucker and her husband, Kirk, of their five-bedroom, 10,400-square-foot mansion on 2.5 acres on York Road.
Thomas' former mansion, which has two pools, an indoor basketball court that once had been his batting cage, a theater room, a 1,500-square-foot home gym, a pool house, underground parking, 13 full baths, five half baths and four fireplaces, was being sold as-is, according to listing information.
Thomas built the mansion on 3.3 acres on Midwest Road in the mid-1990s while a star with the Chicago White Sox. He sold it in 2003 for $7.95 million — still a DuPage County single-family home sales record — to construction company owner Ronald Scarlato, who later lost the mansion to foreclosure.
In late 2014, Scarlato's lender sold the mansion for $2.71 million to Tahir Iqbal, according to public records. In July 2015, Iqbal and an associate, Shaukat Sindhu, were indicted by federal prosecutors in Ohio on bank fraud charges related to short sales of gas stations in Youngstown, Ohio. Shortly after the indictment, the mansion was relisted for $4.495 million, and in a filing in that pending case, federal prosecutors asserted that Iqbal is the "straw" owner of the mansion and that Sindhu is its actual owner.
Earlier this year, Sindhu and Iqbal pleaded guilty to the fraud, which cheated banks of $2.5 million. Sindhu was sentenced to 45 months in federal prison, while Iqbal was sentenced to 12 months in jail. As part of a plea agreement, Sindhu forfeited the Oak Brook mansion to the federal government, and the U.S. Marshals Service managed the sale. The mansion then was listed for sale on Nov. 10 for $3.3 million.
The property also has been the subject of a foreclosure action by Sindhu's lender, BMO Harris Bank, since December 2015, and under the terms of the forfeiture order, the bank is due to receive $2.043 million in proceeds from the sale.
Listing agent Ryan Smith of Smith Partners & Associates declined to comment on Friday on the sale. However, he previously had confirmed to Elite Street that he was marketing the property on behalf of a servicer that is working for the Marshals Service.
Bob Goldsborough is a freelance reporter.