Rob Blagojevich’s North Side Home For Sale

July 14th, 2011 | by ashley gordon |

A federal judge set bond at $450,000 for ex-Gov. Rod Blagojevich and ordered him to post his North Side house and Washington condo as collateral even though the former governors lawyers said the Chicago residence is for sale.

“I have no intention of violating the bond,” Blagojevich said after U.S. District Judge James Zagel issued the standard warning that he could lose both homes if he violated bail conditions.

It was the first public indication that Blagojevich, convicted last month on 17 counts of wire fraud, bribery, attempted extortion and conspiracy, has his Ravenswood Manor residence on the market.

“So if anyones watching this and is interested in a nice house in Ravenswood, contact the Blagojeviches,” the former governors lawyer, Sheldon Sorosky, quipped to reporters.

The 11-room Mediterranean-style house was not listed Friday on the real estate multiple listing service, but it might be for sale informally as what is known in the real estate industry as a private listing. No asking price had been revealed for the brick house, built in the 1920s and extensively renovated after Blagojevich and his wife purchased it in 1999 for $505,000.

Queried by the judge, another Blagojevich lawyer, after conferring with Blagojevichs wife, Patti, said the couples two homes had combined equity of about $600,000. Blagojevich bought the Washington condo for $183,000 in 1997 following his election to Congress.

Federal prosecutors had asked Zagel to set a $1 million bond secured by the two properties.

“I understand the symbolism of a million dollars, but $450,000 is enough,” Zagel said.

After his sweeping conviction June 27, the judge barred Blagojevich from leaving northern Illinois without court permission. No sentencing date has been set.

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