June 3, 2015 by Billionaire Addresses
A prominent local businessman and his wife bought the home of the late McDonald’s philanthropist from the Salvation Army way back in 2007 but we thought you may still be interested in seeing where she lived. The Fairbanks Ranch estate that was home to McDonald’s Corp. heiress Joan Kroc for $16 million, a price that was $12 million less than the initial listing.
Records filed with the county show that the property was sold to Massih and Haleh Tayebi as trustees of the Unity Trust Fund, a nationally focused organization established in San Diego.
The 12.5-acre estate, originally listed for $28 million early last year, was part of a $1.5 billion bequest made by Kroc to the Salvation Army to build more than two dozen community centers across the country. The charity received the 12.5-acre property from Ms. Kroc, the widow of McDonald’s Corp. founder Ray Kroc, as part of a $1.5 billion bequest earmarked to pay for more than two dozen community centers.
Kroc died at 75 on Oct. 12, 2003, of cancer and was the widow of McDonald’s founder and Padres owner Ray Kroc. After her husband’s death, she became owner of the baseball team and emerged as one of the nation’s leading philanthropists, giving millions to public broadcasting, hospice and homeless care, even giving the below estate to the Salvation Army to do as they deemed fit, plus global peace initiatives and animal welfare.
Overlooking two lakes in Fairbanks Ranch, a community just south of Rancho Santa Fe and bisected by San Dieguito Road, the gated residence features a 16,000-square-foot main home, two guest houses and servants’ quarters. There are two pools and a tennis pavilion. Other features include a wine cellar, library, gourmet catering kitchen, full gym with sauna, two gardens and a garage for 14 vehicles.
The estate was designed as a compound, said listing agent Catherine Barry. “You could go from the main house to the pool and the guest houses all under roof, under a network of porte-cocheres.” The home was built by Kroc after her husband died.
When asked why the sales price was much lower than originally listed, Barry said Kroc’s personalized design, with a feminine flavor, may have dissuaded some potential buyers. For example, the rose garden contains only pink varieties.
Barry said the house had been marketed internationally, but ended up with local buyers, which she said is not unusual for properties at the highest end in the San Diego area. She said she was under instructions not to use the Kroc name in marketing the mansion.
Representing the Salvation Army in the sale was Barry Estates of Rancho Santa Fe. Coldwell Banker Residential Brokerage in Rancho Santa Fe represented the buyers.
Agent Pari Ziatabari of Coldwell Banker said the new owners plan to use the residence as a full-time home after making renovations.
At least McDonald’s heirs have given back something for all the millions whom have made them a success.