Published On: Fri, Sep 5th, 2014

Pacers Co-Owner Mel Simon Indiana Estate Selling for 25 Million

The Simon estate

The Indiana estate of the late billionaire shopping mall magnate and Indiana Pacers co-owner Mel Simon is up for sale for $25 million.

The sale price is less than half of the $55 million that the property was rumored to have cost to build.

According to the listing the annual property tax on the estate comes to more than $100, 000 a year. Something for the buyer to take into consideration if he thinks that $25 million is such a bargain price.

Located in Carmel Indiana and known as Asherwood, the estate which includes a full 18 hole golf course has been put up for sale by Simon’s widow, Bren, five years after he died at the age of 82.

The massive 106 acre property at 10110 Ditch Road has seven different buildings including a 51, 267 square foot main house, a 6, 000 square foot guest house, a 7, 000 square foot club house, an 8, 000 square foot golf maintenance building, 2 other maintenance buildings totaling 12, 000 square feet and a 940 square foot greenhouse.

Built by Simon himself in 1999, the mansion alone has 7 bedrooms, 8 full and 16 half bathrooms, a paneled foyer with a grand double staircase, a huge 2 story paneled great room and library, formal living and dining rooms, a restaurant quality stainless steel kitchen, an informal dining room, a family room, a billiards room, a custom designed home theater, 6 fireplaces and an indoor resistance pool. There is also a 4 car garage, terraces, an outdoor swimming pool, formal gardens, lakes, and a tennis court.

A circular driveway sits in front of the castle like tower that serves as the house’s main entrance.

Before Simon died, he and his wife were considering donating the property to the Indiana University Foundation, for the use of a new think tank, but that in the end did not happen.

The couple also owned many other expensive properties throughout the world, including Villa de Venezia, a 52 room home near Palm Beach, Fla., built by Harold K. Vanderbilt in 1929 and a 12th floor condo in New York which Bren sold in 2011 for $48 million. The same year she also listed their mansion in Bel Air, California, for $44 million.

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