Justin Dearborn, who stepped down as chief executive of Tribune Publishing earlier this year, is setting up shop in Encino, where he paid $3.85 million for a 2017 Cape Cod-style home.
The purchase arrives two months after Dearborn sold his Illinois estate for $2.535 million, or roughly $200,000 less than the asking price.
Black doors and garages offset the whitewashed exterior of the 2017-built home. Inside, the 6,200 square feet of living space sports neutral tones. Past a two-story foyer, there’s a formal dining room with paneled walls, a glass wine closet and a living room under coffered ceilings.
The gourmet kitchen adds double islands and modern fixtures. Elsewhere are five bedrooms, 5.5 bathrooms and a movie theater. The master suite, which has a fireplace, expands to include dual closets, a marble bathroom and private balcony.
An indoor-outdoor family room leads to the backyard, where a trellis-topped patio adjoins a swimming pool, spa and detached cabana.
Billy Rose and Andrea Korchek of the Agency held the listing. Martina Biegel of Compass represented Dearborn.
Dearborn joined the Chicago company as CEO, then known as Tronc, in 2016, and he also served as chairman since Michael Ferro’s departure last year. He stepped down in January alongside executive Ross Levinsohn and Mickie Rosen following months of turmoil at the publishing firm. In February, he joined Los Angeles-based ICM Partners talent agency in the newly created role of chief operating officer.
Late last year, Dearborn sold a home in Naples, Fla., for $375,000 following five price cuts.