The Bel Air home of Lee Iacocca, former Ford and Chrysler automotive executive, has hit the market for $26 million, the Wall Street Journal reports.
In July, Iacocca passed away at the age of 94 from complications with Parkinson’s disease, and now his daughters, Lia Iacocca Assad and Kathryn Hentz Iacocca, are selling the Los Angeles estate with listing agents Rick Hilton and David Kramer of Hilton & Hyland.
The approximately 11,000-square-foot Tuscan-style property includes four bedrooms, a staff apartment, a wood-paneled library, a large dining room with french doors and a master suite with a living room and twin bathrooms, as well as more than an acre of land and a tennis court.
Kramer noted to the Journal that the estate is “remarkably current in style and is in good condition.”
The home is located on Chalon Road, neighboring the Bel Aire Country Club and the University of California Los Angeles. On the David Kramer Group’s website, the Iacocca estate’s property description emphasizes that “The Italianate-style home’s high ceilings, meticulous craftsmanship and sweeping rooms on the main floor make entertaining guests easy.”
It is no surprise then, that Assad noted in the Journal report how her father delighted in using his home to entertain his friends, including Frank Sinatra, Bob and Dolores Hope, and Marvin and Barbara Davis.
Iacocca originally purchased the home in 1993 for $4.25 million. David Kramer Group’s property description details that this is a trust sale, no court confirmation required.
Iacocca, who grew up in Allentown, Pennsylvania, was the son of an Italian immigrant hot dog vendor. After working his way up the ranks at Ford over a 32-year career (while helping develop sports cars like the Mustang), he brought his talents to the then-struggling Chrysler Corporation and gave the automobile manufacturer new life.
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