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Billionaire Ron Burkle chases record $29 million for Bob Hope’s Toluca Lake estate



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4 years after shopping for Bob Hope’s longtime property in Toluca Lake and restoring it to its former glory, billionaire businessman Ron Burkle is purchasing it round for $29 million.

That’s almost double the $15 million he paid for it in 2018. The in depth renovation noticed Burkle modernize the dwelling areas with high-end fixtures and finishes however protect the residence’s basic parts — together with Hope’s oak library and a one-hole golf course that the late comic designed himself.

If he will get his worth, will probably be the costliest sale within the historical past of Toluca Lake, based on the A number of Itemizing Service.

The trophy house is considered one of many who Burkle has owned over time. He offered Frank Lloyd Wright’s iconic Ennis House for $18 million in 2019, and his present actual property portfolio consists of Bob Hope’s futuristic Palm Springs retreat and Michael Jackson’s Neverland Ranch.

Hope’s Toluca Lake house was inbuilt 1939 by Robert Finkelhor and up to date 20 years later by John Elgin Woolf, the Hollywood Regency-style architect who designed daring, opulent homes for different celebrities comparable to Cary Grant, Errol Flynn and Judy Garland.

Hope used the house to entertain high-profile visitors comparable to Bing Crosby and Frank Sinatra, and the property nonetheless options Outdated Hollywood model at present with roughly 15,000 sq. toes of stylish areas marked by wooden, stone and glass.

Between the primary home, workers home and house above the storage, the 5-acre compound has eight bedrooms and 17 loos. Different highlights embody six fireplaces, a marble kitchen, bar and billiards room lined with memorabilia.

The facilities proceed exterior, the place patios and lawns result in a tennis court docket and saltwater swimming pool. A further construction provides a business kitchen, convention room, safety workplace and fireproof secure.

Burkle constructed his fortune shopping for and promoting grocery store chains, and he’s at the moment the proprietor of the SoHo Home chain and part-owner of the Pittsburgh Penguins hockey group. Forbes places his web value at $2.2 billion.

Kevin Dees of the Company holds the itemizing.