Following a $2.6 million reduction in price, the property, which sits in the Gold Coast neighborhood, is now going for $6.95 million. Dimon first tried to sell the house in 2007 for $13.5 million. He and his wife bought it in 2000 for $4.7 million, so they may yet come out ahead in the deal.

The house, which is at 25 E. Banks Street (Banks Street! How fitting!) sports such luxe amenities as a master bedroom that takes up the entire second floor, a gym and a wine vault. Here's the listing.

Extraordinary 15,000 sq ft family friendly home, short stroll to lake, parks, museums & famed Mag Mile! Perfect for formal entertaining in marvelous rooms, but also family fun, casual entertaining, everyday living! Entire 2nd flr Master Suite w/ family BRs above. Fabulous rooftop Terrace! Great Rm/Media Rm. Wine vault. Gym. 2 BR staff qrtrs. w/ sep. entrance. Gorgeous renovation & design by Marvin Herman. Marvelous!

Photos of the place are available here. Marvelous!