Developer David Cocagne Bought Chicago's Priciest Home

The owner of Chicago’s priciest single-family home ever sold is a real estate developer who’s also trying to build Evanston’s tallest building.

David Cocagne, CEO of Vermilion Development, and his wife, Manassi, paid $15.25 million last August for a six-bedroom, 25,000-square-foot limestone mansion in Lincoln Park, about $610 per square foot, the Chicago Tribune reported.

Even after a series of humongous price cuts and a lengthy marketing period, the deal for 1932 North Burling Street still marks the most expensive single-family home ever sold within city limits, edging out a $14.5 million purchase by Gov. JB Pritzker in 2006.

Engel & Volkers’ Jennifer Ames represented the Cocagnes and Jameson Sotheby’s International Realty’s Salm and Matt Leutheuser represented the sellers.

The home — once listed for $50 million, also a local record — had lingered on and off the market for more than seven years. The sellers, Richard and Michaela Parrillo, reportedly spent around $65 million building the property, which spans eight city lots and features 11 bathrooms, hand-cut French marble, 18th-century light fixtures, a 5,000-bottle wine cellar and a 2,000-square-foot terrace with an outdoor kitchen.

The sale also tops the price paid for any home in the Chicago area in 2024 outside of Gov. Pritzker’s own $19 million two-part condo purchase at 9 West Walton Street.

Public records tie Cocagne and his wife to the trust that acquired the Lincoln Park property, but Cocagne declined to comment to the newspaper. The couple has listed their previous home, a 6,350-square-foot Lakeview mansion at 3628 North Lakewood Avenue, for $3.1 million.

The high-profile deal closed as Cocagne was making waves in Evanston.

In January, Vermilion submitted plans for a 31-story, 447-unit residential tower at 605 Davis Street, which would become the tallest building in the lakefront suburb.

The project replaces an earlier 18-story office concept and is being reviewed under Evanston’s recently overhauled zoning code, which encourages density, affordability and flexible housing formats. Vermilion also acquired the adjacent Chase Bank drive-thru site to potentially expand its footprint.

Vermilion specializes in mixed-use and public-private development, with an emphasis on assisted-living and institutional housing.

The Lincoln Park sale highlights just how much capital Chicago developers are willing to park in their own backyards, even as citywide demand for trophy homes remains lower than in coastal markets.

— Judah Duke