Mercer Island property once listed for $40 million is going up for auction in April
By Eric Pryne

Seattle Times business reporter

Next up: A 23,00-square-foot Mercer Island waterfront mansion, complete with a 12-foot Chihuly chandelier in the entry, a 66-foot indoor saltwater pool, a stocked trout pond and two count ‘em, two wine cellars.

Bidding starts at $15 million. Do I hear 16?

New York auction firm Sheldon Good & Co. announced Friday it’s been retained to sell the above-mentioned estate, on the island’s north shore.

This won’t be some noisy live auction, though: Sealed bids only, please. The deadline to submit yours to Good’s Chicago office: April 14.

Good’s announcement didn’t give the home’s precise location or owner. But it provided enough hints to identify the property as Chuck and Karen Lytle’s house on Roanoke Way.

The Lytles founded Leisure Care, the retirement-community company. Through Lytle Enterprises they still own 25 senior complexes that Leisure Care manages, according to the company’s Web site.

They have owned the 33-year-old Mercer Island mansion since 1989, according to county records. Its assessed value: A hair over $20 million.

The Lytles listed the property for $40 million in 2004, according to an article that year in The Seattle Times. “It’s like the [Las Vegas] Bellagio without the slot machines,” one visitor gushed at the time.

Among the home’s other features: Two master suites. Three kitchens. A workout gym. Two acres of manicured grounds. A greenhouse. And a dock that’s big enough for a 140-foot yacht.

The Lytles once turned down overtures from Architectural Digest to feature their estate in the magazine’s pages.

Now it can be yours. But it’ll cost you $75 just to enter this auction.

And remember to enclose a cashier’s check or certified check equal to 5 percent of your bid.

Eric Pryne: 206-464-2231 or epryne@seattletimes.com

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Seattle Real Estate Tyler Freed