Le Chateau Renaissance Up For Auction

Another huge home is being put up for auction. Le Chateau Renaissance is the former estate of Stephen Hilbert, the one-time head of the firm Conseco in Carmel, Indiana. Conseco, which is now insurance company CNO Financial Group Inc. is putting the home up for auction in a sealed bid auction. CNO took the house in 2005 after a dispute with Hilbert over millions he borrowed from the company to buy its stock. The bid submission deadline is August 27.

We first saw this home in 2006 when it was the the 2006 Decorators' Show House. The estate was once valued at $25 million but was listed at $20 million in 2006. An auction of the household possessions raised more than $750,000 in February 2005. More recently the home was listed at $9.9 million. With no sale, CNO decided to try the auction route instead. The seven-bedroom home is on nearly 34 acres. The 25,000 square foot main residence has a master suite with a private indoor lap pool. Continuing the fitness theme, there is also a sports pavilion with basketball and racquet ball courts, locker rooms designed to resemble Assembly Hall, the basketball arena at Indiana University. An outdoor infinity pool has a double waterfall and separate pool house. There is also a guest house and six carpeted parking bays. The Wall Street Journal reports that Hilbert has left his mark on the place in the form of lighting that bears his initials and murals one of which is a likeness of Hilbert wearing a toga (you might want to paint over that one). Bidders can tour the house until August 20, more details are available on the property website.