Groupon co-founder and CEO Eric Lefkofsky broke a Chicago-area record when he shelled out $19.5 million in cash for a 15,800-square-foot mansion on Lake Michigan, the Chicago Tribune reported.
Lefkofsky, who became the company's CEO in 2013, bought the Glencoe, Illinois, house in August. The property contains a pool and tennis court, and Lefkofsky has hired an architecture firm to design a $697,000 addition that includes a gym and spa, the Tribune said.
The mansion was built in 1917 and survived demolition efforts in 2002, the Tribune wrote. Previous ownership bought the house for $6.8 million that year.
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Lefkofsky's sum tops the previous Chicago-area record of $19 million that a home builder paid in 2006 for the seized estate of insurance magnate Mickey Segal, who went to jail in 2005 on fraud and racketeering charges. The next year, an executive from health-care supply company Medline paid $17.6 million, the area's third-largest sum ever, for the property.
Read the Chicago Tribune's full story here.