Michael Lee-Chin rumored to be buying $23.4 million mansion

Forbes.com reports that billionaire Michael Lee-Chin, chairman and chief executive of Ontario-based mutual fund firm AIC Limited has shown interest in the 26,000 square feet Oakville mansion which sits on an eight-acre spread. The 54-year-old mogul, who ranked at 243 on the Forbes list of the World's Richest People last year, can afford the place, given his estimated net worth of at $2.5 billion.

The home is owned by Frank Clegg, former president of Microsoft Canada. Who bought the property in the late 1990s, tore down the old house and built a new mansion. However weeks after the family moved in, his wife began having allergic reactions to the new carpets, lacquers and veneers.

Ballymena has four bedroom suites, plus three additional bedrooms. The study has double French doors that emerge onto a Juliet balcony with views of the lake. The great room features a stone fireplace with French doors leading to the patio. In the kitchen, the tumbled limestone floors are heated, and the antique maple cabinetry is topped with granite counters.

The gunite indoor pool has cathedral ceilings and heated stone walls, as well as a bar area and fireplace. Out back, there is 330 feet of waterfront with a private pier extending 75 feet out into the lake. The coach house is about 10,000 square feet and has been renovated to include two apartments.