Disappointment on Rouges Hill Road

17 Fort Hills Lane, former residence of ex-con Frederick Bourke, was listed by him for $15 million back when his legal troubles first arose in 2012 and finally sold for $9 million in 2014. The buyers presumably assumed that they could sell the two lots comprising its 11 acres at a profit, but after 2 fruitless years attempting to sell the original 1934 house, suitable for razing, on six of those acres for, after many price drops, $5.5 million, they threw in the towel and listed all 11 + acres, including that teardown, for the same $5.5.

That’s a substantial haircut for property they paid $9 million for, and here’s further bad news: $2.5 for a building lot here may still be too much to ask.

(The link above goes to the listing as land, so go here for interior pictures).