Boeing's former CEO who oversaw the ill-fated 737 Max plane is reportedly selling his Chicago-area estate at a $3 million loss

Mary MeisenzahlFeb 6, 2020, 01:05 IST

VHT Studios

Former Boeing CEO James McNerney has listed his Chicago-area mansion near Lake Michigan for nearly $4.7 million, according to reporting by Crain's.
McNerney, who retired from Boeing in 2015, oversaw development of the now-troubled 737 Max, which has since been grounded worldwide after two deadly crashes, as well as the 787 Dreamliner.
He is asking for much less than he paid for on the nearly 8,000-square-foot mansion.
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Retired Boeing CEO James McNerney is selling his mansion.

McNerney and his wife listed their Lake Forest, Illinois mansion for $4.795 million, nearly $3 million less than they paid for the estate in 2006, according to Crain's. They paid $7.6 million for the mansion in 2006, which is located near Lake Michigan.

McNerney served as CEO of Boeing from 2005 to his retirement in 2015, where he approved and oversaw the "frenetic" development of the 737 Max, according to the New York Times.

The plane, which has since been grounded worldwide, was involved in two crashes that killed 346 people. The issues with the model have since been traced back to a questionable development cycle that prioritized profit over safety, sound engineering, and adequate pilot training.

The 737 Max has been bad news for Boeing ever since. In 2019, the company reported an annual loss of $636 million, its first full-year loss in more than 20 years. McNeary also oversaw the development of the 787 Dreamliner in his tenure.

Now, McNerney is looking to rid himself of this nearly 8,000-square-foot mansion, even at a loss. The house located at 1291 Elm Tree Road is listed with Andra O'Neill at @Properties.

Take a look inside.

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The mansion sits at the end of a long driveway.

Large French doors open into the home.

The house is marked by large rooms and ornate furniture.

This living space has one of several fireplaces throughout the house.

Powder blue walls and built-ins feel like they're from another era.

Even this powder room is ornately decorated.

The dining room, which has a chandelier and another fireplace, is empty now, but could clearly accommodate many guests for meals.

The kitchen appears to be the most modern room in the house, with a large island in the center.

The island is also a seating area, with room for stools underneath.

A butler's pantry adjacent to the kitchen has extra storage too.

Along with the dining room and island, the kitchen is large enough to fit another area for meals.

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Boeing's former CEO who oversaw the ill-fated 737 Max plane is reportedly selling his Chicago-area estate at a $3 million loss

The mansion sits at the end of a long driveway.

Large French doors open into the home.

The house is marked by large rooms and ornate furniture.

This living space has one of several fireplaces throughout the house.

Powder blue walls and built-ins feel like they're from another era.

Even this powder room is ornately decorated.

The dining room, which has a chandelier and another fireplace, is empty now, but could clearly accommodate many guests for meals.

The kitchen appears to be the most modern room in the house, with a large island in the center.

The island is also a seating area, with room for stools underneath.

A butler's pantry adjacent to the kitchen has extra storage too.

Along with the dining room and island, the kitchen is large enough to fit another area for meals.

The family room is a departure from other rooms, decorated in a more rustic cabin style.

Wood floors and wooden beams on the ceiling add to the feeling.

Even the mudroom is elaborate, with a luxe carpet.

The master bedroom on the second floor is one of five total in the house.

The master has yet another fireplace, plus a chandelier and sitting area.

The master bathroom has a double vanity, large cabinets, and a standalone tub.

The other four bedrooms in the house are smaller but still impressive.

Some feature window seats.

Other bathrooms are also smaller, although still ornate, like this bathroom attached to the fourth bedroom.

The house also has an office, which McNerney could have used while living there.

The house has a finished basement outfitted as another living space.

Not skipping out on any luxuries, the home has a full bar...

...and a wine cellar.

Even the home gym is upscale, sitting in a gazebo.

Out back, the house has a large pool...

...plus a pool house.

If that wasn't enough, the estate also has a guest house.

The smaller structure on the property is more modest but still spacious.

It has a bedroom, bathroom, kitchen, and living area.

The entire estate sits on about two acres.

Some of the outdoor space consists of manicured gardens...

...while the rest is covered in trails along the ravine, only a block away from Lake Michigan.

An aerial view shows the full estate.