Mansion once owned by Jimmy Jam auctioned off for $2.6M

Author:
Updated:
Original:

The mansion designed and once owned by Grammy Award-winning producer James "Jimmy Jam" Harris sold for $2.6 million at auction Thursday – much less than its assessed value, the Star Tribune reports.

Sale of the 22,000-square-foot Lake Minnetonka home won't be complete, however, until the bank that repossessed the property, JPMorgan Chase, approves it. Harris was not the current owner of the mansion, which went on the auction block after the property went into foreclosure.

The winning bidder at Thursday's live auction, which was held in the home's kitchen, was not disclosed.

The seven-bedroom, seven-bath home sits on 3.5 acres and 300 feet of Lake Minnetonka shoreline on Hardscrabble Circle in Minnetrista. The Star Tribune says several real estate agents and a handful of bidders speculated that the mansion could get torn down, but the Business Journal said the buyer was local and did not plan to raze it.

The Business Journal has a slideshow of the mansion.

The property's listing agent – Lakes Sotheby’s International Realty in Wayzata – said he received several cash offers for the property while it was on the market over the past four to five months, but the bank declined the offers and decided to put it on the auction block, according to the Star Tribune.

The opening bid for Thursday's auction was $1 million.

The paper says Harris bought the property for $420,000 in 1987 and construction was completed on the home in 1991. When Harris moved to Los Angeles, he listed the property for $11 million. He eventually sold it for $7 million to Christopher and Sandra Hintz in June 2007, public records say.

Next Up

Screen Shot 2021-03-08 at 9.41.43 AM

Derailed train in Plymouth was carrying molten sulfur

No unusual air quality readings have been reported in the area.

Judge Peter Cahill - March 8

Chauvin trial: Jury pool sent home as court awaits appeals court guidance

Judge Cahill rejected the prosecution's motion to delay the start of jury selection, but it was delayed Monday anyway.

chauvin courtroom

Everything you need to know as Derek Chauvin's trial is set to begin

Jury selection is scheduled to begin Monday, but could be delayed.

jack riebel

Restaurant community rallies around famed Twin Cities chef battling cancer

Jack Riebel, chef and owner of The Lexington, is starting a new aggressive treatment — his fourth in a year — in hopes of beating cancer.

Abbey_Murphy_6836

Gopher women snubbed from NCAA hockey tournament

Fair decision or was the selection committee biased?

hockey

Some Carver Co. schools, businesses reduce activities amid outbreak of COVID variant

The Minnesota Department of Health announced a 'rapidly growing' outbreak on Friday.

ambulance

2 men pulled from burning car after crash in Minneapolis

The two men are in "serious and critical condition" but are expected to survive.

All Energy Solar Residential Installation

End 'renting' from your utility company and go solar

A solar installation is one of the few home improvements that actually pays for itself.

Related