From the WSJ:

In what might be labeled a fire sale, J.P. Morgan CEO Jamie Dimon has chopped the asking price for his Chicago home by more than 25%.

We’ve previously written about Mr. Dimon’s trouble selling the regal 13,500-square-foot home with eight-bedrooms and nine-bathrooms. Several years ago, Mr. Dimon was asking $13.5 million, but it was priced at $9.5 million earlier this year. Now, it’s $6.95 million. Mr. Dimon can still come out ahead: He paid $4.68 million in 2000.

“They’re trying to make a bold move to get ahead of the market,” says Jim Kinney, vice president of luxury sales for Baird & Warner, a residential brokerage in Chicago. “This time next year, that house is not going to be on the market. They’re going to find whatever it takes to get it sold.”

The home built in 1870 boasts a chef’s kitchen, a workout room that includes a steam room, a rooftop terrace and staff quarters. But be warned: The listing pictures were taken when the house was furnished. Mr. Dimon hasn’t lived there since 2004 when he relocated to Manhattan after the J.P. Morgan Chase’s merger with Bank One, where he had been chairman and CEO.

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