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When Colts legend Jim Irsay passed away peacefully in his sleep on May 21 at 65, the NFL lost more than an owner — it lost a personality, a presence, and a piece of its soul. Along with the memories, he left behind a Carmel estate that felt like an extension of the Colts’ locker room itself. Four months later, the property finally sold, but the sale came with a sting: his daughter Carlie took a six-figure hit in parting with it.

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Yes, the Carmel mansion, once owned by the former Colts owner, has finally found a buyer. On Tuesday, the estate sold for $11.75 million — less than two months after first hitting the market. The sprawling 24,000-square-foot estate, right next to Crooked Stick Golf Club and boasting two standalone guest homes, first hit the market in July for $12 million. Interest was instant — it had a pending offer within just days. And yet, it was sold a couple of hundred thousand below the stated value.

It’s a bit surprising how it wasn’t sold for more. Built in 1996 on 9.4 gated acres, the estate is packed with wow-factor features: a Zen garden, seven fireplaces, a private Par 3 golf hole, full nanny’s quarters with its own kitchen, an indoor pool pavilion, a home theatre and speakeasy, and even a full-size indoor basketball court complete with Colts markings on the hardwood. Like we said earlier, it pretty much seems like a Colts locker room. Well, the house tour doesn’t end there, either.

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Beyond the sprawling main house, the estate also includes two standalone guest homes. “The Cabin” is a brand-new 2,700-square-foot retreat with three bedrooms and three-and-a-half baths. Oh, and the second cottage adds two bedrooms and two baths. That’s a dream for guests and extended family.

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Seeing a property like this go for under $15 million in today’s market is unusual enough. Add in that it was once owned by an NFL team owner, and it starts to feel downright baffling. Surprisingly, it took four months to close the deal. And Carlie Irsay is still waiting for news on the other $19.9 million.

Jim Irsay’s $19.9 million mansion is still ‘for sale’

Yes, after Jim Irsay passed, it wasn’t just his Carmel mansion that went up for sale. A lake house in Culver, Indiana, has now hit the market as well. And there aren’t any buyers. Not yet, at least.

Listed less than three weeks ago for $19.9 million, the Lake Maxinkuckee estate spans nearly six acres and 13,956 square feet. The eight-bedroom, 10-bath home carries the personal touch of Jim Irsay, who helped design the residence back in 2001. It’s legendary. Again, baffling how it isn’t lining up any buyers.

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And it deviates from the typical American architecture. According to the listing, the main house is “a European-inspired masterpiece.” And it really is. Think soaring timber-framed ceilings, hand-painted details, and expansive floor-to-ceiling windows that perfectly frame breathtaking views of the lake.

And it feels more like a four-star (at the very least) hotel than a lake house. Spread across four levels with partial elevator access, the home was designed by Irsayto host generations of family and friends.” Yes, four levels. Add in the indoor pool, spa amenities, hot tub, heated paver pool deck, fireplace lounge, and the largest private dock on Lake Maxinkuckee (more than 4,000 square feet of dock space). You’d think this place would fetch well above market value. At least, that’s what Carlie Irsay is probably hoping.

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Is the market undervaluing Jim Irsay's legacy with his estate selling for less than anticipated?

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