After spending less than three months on the market, Bing Crosby's palatial French chateau-style home at 1200 Jackling Drive in Hillsborough has sold. Originally listed after the death of the iconic singer's second wife, the property was priced at a record-setting $40 million before ultimately closing for $25 million on June 12. The sale makes history despite the price cut.

"This is one of the top 5 sales in the history of Hillsborough," said Terri Tiffany, a Compass Northern California spokesperson. It is also Hillsborough's largest sale since the Western White House closed for $23 million in October.

Although the estate was most recently owned by the Crosbys, its Hollywood roots are over a century deep. The home was built in the 1920s for the Howard family, who owned perhaps the world's most famous racing horse, Seabiscuit. The property comes with some Seabiscuit lore that has since been dispelled. "While local legend long suggested that Seabiscuit was buried on the Hillsborough property, the champion thoroughbred actually rests at Howard's 18,500-acre Ridgewood Ranch near Ukiah," wrote SFGATE contributor Anna Marie Erwert.

Crosby and his family moved into the 5-acre, 13,635-square-foot home in 1965 and made some serious renovations, like "adding antique furniture and wood paneling from the collection of William Randolph Hearst, who was a close friend of Bing's," wrote Erwert.

The 11-bedroom mansion has a smoking room with a built-in bar, a formal dining room with a Venetian-glass chandelier and countless other one-of-a-kind touches, including hand-painted wallpaper and hand-carved woodwork. Alex and Pierre Buljan of Compass found a buyer for the property, which was listed by Sotheby's agent Jennifer Gilson.

"This property is one of Hillsborough's legacy estates with an extremely storied background and impeccable vintage craftsmanship. The buyer is a Hillsborough local with an appreciation for classic properties, adamant about maintaining the character and history into the next generation," said Alex Buljan in a statement to SFGATE.