The 7,154-square-foot Hillcrest Estates home of Dallas City Councilman Lee Kleinman and his wife, Dr. Lisa Umholtz, is still slated for auction this Saturday, September 28, 11:00 a.m. with no minimum reserve price at 11322 East Ricks Circle, Dallas, with Elite Auctions.
The final preview is scheduled for Friday (this afternoon) from 1-4pm, and registration begins bright and early Saturday morning at 9:00am.
Elite Auctions is the luxury home auction company whose signs you may be seeing more frequently around DFW. Elite successfully auctioned off the Vaquero properties of Vanessa Swarovski, then later Mark Texeira, and the Highland Park home of Michael Young, among many others.
But Saturday, it’s all about North Dallas and a pristine enclave that some call Preston Hollow, which is really more Preston Royal, the official neighborhood name being Hillcrest Estates. Comprised of about 90 minimum one-acre home spreads, a few select homes along East and West Ricks Circle, Wander Lane and Belmead, actually boast larger than acre lots.
The Kleinman home is one of them. And a week ago, I learned that the home’s unique contemporary design actually inspired the Kleinman’s daughter to a career in architecture.
Built in 1993 by AIA Fellow Gregory S. Ibanez, the five-bedroom, six-full, two-half-bathroom home was also a fixture on the Raymond Nasher Tour of Homes back in 1996, as well as the Northaven Tour of Homes. The home was first listed with Kyle Rovinsky of Coldwell Banker Residential Real Estate for $4,567,890, then lowered to $3.95 million.
Ultimately the home’s price came down to $3.795, first with Rovinsky, then with Allie Beth Allman and Christine McKenny. The home is now listed by Cliff Freeman of eXp Realty.
Though it is being sold without reserve, the asking price is $3.5 million.
“The asking price is a good guide for what it would take to buy this house, prior to auction,” says Elite Marketing Director Alicia Chmielewski.