Real-estate investor Michael J. Kilroy bought the Elrod House from billionaire
Ron Burkle in 2003 for $5.5 million. During his ownership, Burkle updated the mechanics and restored the interior furnishings. In April 2014,
The Desert Sun reported that accusations in court documents alleged that Kilroy—who also owns two other Southridge properties—had stopped paying mortgages, most HOA dues, and property taxes. The
Desert Sun article said that the Southridge Property Owners Association of Palm Springs filed a lawsuit against Kilroy in May 2012 for over $148,730 in assessments. Kilroy had reportedly signed promissory notes that did not pay the full dues. UK lender
Lloyds Bank plc also filed a suit against Kilroy in Riverside County Superior Court in mid-2012, alleging Kilroy owed near $1.8 million for missed mortgage payments, as well as legal and other fees. The
Desert Sun also reported that high winds in January 2012 had "lifted roof shingles from homes and buffeted sections of the Elrod House." At the time of publication in 2014, the article stated that portions of the roof were covered by "tarp canopies." The article said that a trial in the Lloyds Bank lawsuit was set for April 2015. In May 2016, the house was turned over to a bank and its asking price was reduced to $8 million from the previous asking price of $10.5 million (which reflected a 2009 reduction from the earlier reported price of $13.89 million). ==References==