Former United Airlines chief financial officer John D. Rainey Jr., who left Chicago-based United in 2015 to become an executive at PayPal, and his wife, Kelly, recently sold their seven-bedroom, 7,200-square-foot Colonial-style mansion in Kenilworth for $2.01 million.
Built in 2005, the red brick mansion has 51/2 baths, five fireplaces, a slate roof, a sport court, a kitchen with a butler’s pantry and a breakfast area, a third floor with a recreational area and a lower level with a bar area, wine cellar and workout room. Outside on the property are a patio and a built-in fireplace.
Rainey remains at PayPal, which is based in San Jose, Calif. He and his wife took a significant loss on the mansion, which they purchased in 2011 for $2.669 million. They first listed the mansion in January 2016 for $3.349 million. They cut their asking price in nine increments by a total of more than $1 million over almost three years before finding a buyer. They reduced the price to $3.199 million, $2.995 million and $2.875 million in 2016, and then to $2.795 million in 2017. They then cut their asking price further to $2.699 million in March 2018, before dropping it to $2.495 million about a year ago, followed by further price decreases to $2.395 million, $2.375 million and $2.295 million.
Listing agent Kelly Mangel declined to comment on the sale.
Bob Goldsborough is a freelance reporter.