BANKING

Keating Home Sold: Keating may be headed for a new home once he is sentenced on his federal convictions. But his spacious old home, meantime, has been sold to a Chicago couple for about $1.3 million.

Robert and Sharon Boyajian paid less than the $1.5-million asking price on the foreclosed home in the Keating family compound in the affluent Paradise Valley suburb of Phoenix.

Among their neighbors will be Keating’s wife, Mary Elaine, and one of his daughters, Mary, and her husband, Gary Hall.

“We realize it’s a high-profile home,” said Robert Boyajian, an insurance executive. “We’re low-profile people.”

Bank of America, which held a $2.2-million loan on the property, lost $900,000 on the deal, excluding sale expenses and upkeep for the past year.

Built in the late 1980s, the 4,400-square-foot house has two bedrooms, 2 1/2 bathrooms, a three-car garage, a small guest house and a separate office building.