Here's what $7.5 million can get you near Edmonton

An estate home perched on the banks of the North Saskatchewan River just outside of Edmonton could be yours for a cool $7.5 million.

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With 25-foot hand-painting ceilings, a hand-sculpted dragon perched above a fireplace and an underground tunnel that leads to a separate guest home, the custom-built home in Rural Parkland County, Alta. is unlike any other you'll find in the area.

"I just wanted to end my career the same way I started it," developer and homeowner Donald McCargar told CTV Edmonton. "I wanted to leave a legacy behind."

The 18,000 square-foot home includes five bedrooms, six bathrooms, a six-car garage and another 3,500 squarefeet worth in balconies and decksalone that offer “breathtaking views.”

McCargar said he spent eight years designing and building the home.

Located a mere 12 feet from the North Saskatchewan River, McCargar said the home’s location is what sets it apart.

“I don’t think you’d find another one like this in Edmonton,” he said.

McCargar said if he can't find a buyer for the sprawling mansion, he'd be open to renting the property out for private events such as weddings.

"If I can have people enjoy this estate and cover my cost of investment, I'd be open to that," he said.

The number of homes in and around Edmonton that have sold for $1 million or more has steadily increased over the last year years – from 20 homes in 2006 to 121 in 2015.

Realtor Julian Szklarz, who is managing the sale, said nowadays a $1 million-listing “is not that extravagant” of a purchase price for a home in the area.


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