"What Can You Buy" is a series that looks at what type of house and amenities you can get for a particular price point in various locations across the U.S. Be sure to check out each of the posts in the series: What Can You Buy for Less Than $1,000?, What Can You Buy for Around $125,000?, What Can You Buy for $5 to $10 Million?, What Can You Buy For $625,000?, What Can You Buy For $250,000?, What Can You Buy for $35,000? and What Else Can You Buy for $35,000?
On Monday, I wrote about the Most Expensive Home Sale Ever. Russian billionaire Yuri Milner purchased the Los Altos Hills, California behemoth in a record-setting real estate deal worth more than 98 percent of us will ever see in a lifetime.
Naturally, this news story begs the question: What else you can buy for $100 million?
How about this estate in Charlottesville,VA?Well, you can get a really great deal on a foreclosure, for the bargain price of $15.3 million. The Albamarle House, a 45-room estate in Charlottesville was listed for sale at a price of $100
million in 2009. Former owners Patricia Kluge and her husband William Moses fell on hard times when their winery faltered under the weight of over aggressive expansion. Bank of America placed the winning bid on the property at a February auction, a mere 15 cents on the dollar.
The 23,500 square foot estate has eight bedrooms, 14 bathrooms, a library, art gallery, home theater, helipad, tiered gardens, pool, staff quarters, wine cellar, and horse stables. Per Zillow, "It is considered one of the most significant residences in the United States."
It is understood that "bargains" like this don't come around everyday, so what else can you buy for $100 million? In the real estate game, sometimes quantity can be more important than quality.
You can buy 10 houses like this one in Chicago:
This single-family home located in The Windy City is a well-preserved antique, an amalgam of German baroque and French architecture built in 1896. The bonafide landmark occupies a place on the National Register of Historic Places.
The home is listed at $9,900,000 and offers seven bedrooms and nine bathrooms. The three-story house also boasts an attic and finished basement, as well as a detached four-car garage.
The property was listed just this week, so if you've got $100 million at your disposal, make an offer and order nine more just like it!
What Else Can You Buy for $100 Million in Detroit, MI?But maybe you have designs on being a true real estate mogul with your $100 million. With that budget, you can own a staggering 1 million homes like this one. The 8 Mile foreclosure was listed at the bargain basement price of just $106 less than a
month ago. The home, built in 1936 is on the smallish side, measuring a diminutive 720 square feet. But for the price of a Ben Franklin, close quarters may be worth the investment. The two bedroom, one bathroom property could be a great starter home for a young couple or that recent college graduate.
With your $100 million, you can safely house yourself, everyone you know, perhaps even everyone your friends know. Become the most popular person in the country with the purchase of a million dirt cheap foreclosures.
Hey! I think we just solved the housing crisis! (Now where am I going to get $100 million?)
If you had a $100 million dollar housing budget, how would you spend it?
- What Can You Buy For Less Than $1,000?
- Foreclosure For Sale: $7 (I am not making this up!)
- What Can You Buy for Around $125,000?
- Elvis Presley's Beverly Hills Home Listed For Rent
- Want A Mortgage? Is Your FICO Credit Score 780?
- 2011 Grammy Winners Go House Hunting
- Biggest Losers and Winners: Where Home Values Are Rising and Falling
- Home Values Decline Further in 4Q 2010
- 10 Worst Cities For Foreclosures in 2010
- What Can You Buy For $5 to $10 Million?
- What Can You Buy For $950,000?
- What Can You Buy For $625,000?
- What Can You Buy For $250,000?
- What Can You Buy for $35,000?
- What Else Can You Buy For $35,000?
Ilyce R. Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com and The Equifax Personal Finance Blog, and is Chief Content Strategist at RealtyJoin.com, a community for real estate investors.