Lake Forest home sells for $12 million – Consumer News

on Jul14

12 July 2018 | 10:00 am

For the first time since 2007, a home in Lake Forest sold for more than $10 million.

The $12 million sale, of a 12,500-square-foot house on 3.4 acres on Mayflower Road, happened quietly in January, most likely as a private listing that never appeared on the multiple-listing service.

The last recorded Lake Forest sale of more than $10 million came when buyers paid $11 million for a mansion on Lake Road 11 years ago.

The buyers purchased the home through Vista Del Lago, a legal entity based in Delaware that conceals their names.

The seller is a legal entity whose principal office is the downtown Chicago condo of Scott Schweighauser and Elizabeth Ellrodt Schweighauser, according to county and state public records. Scott Schweighauser, whose Chicago firm Borealis Strategic Capital invests in young hedge funds, did not respond to a request for comment. Gary Shulman, an attorney with the Northbrook firm Levun Goodman & Cohen, is identified in several documents attached to the legal entity that sold the property. He declined to comment.

According to the Lake County assessor, the property last sold in 2006, for $10.6 million. It’s not clear whether the Schweighausers were those buyers, but Lake County records put them at the Mayflower home at least since 2013. In 2015, the couple paid $4.9 million for a Gold Coast condo, according to the Cook County recorder of deeds.

The Lake Forest house has six bedrooms and eight baths, according to a listing on Zillow that includes an @properties photo of a Cape Cod-style house with dormers and black shutters.

Beyond that, little information is available about the property. The house was built in 2009 and has a swimming pool, according to the Lake County assessor’s website. Its property tax bill was more than $157,500 in 2016, according to the Lake County treasurer’s website.

From Mayflower Road, all that’s visible is a driveway lined with tall trees.

In the early years of the 21st century, Lake Forest was at the top of the market. In 2007, on a list of the Chicago area’s five highest-priced homes of the year, four were in Lake Forest. In later years, the upper-tier part of the home market shifted south, and in 2016 Lake Forest’s most expensive home sale was 37th on Crain’s list of the top 50 sales.

In recent years high-end homes in Lake Forest have been selling slowly and at big discounts or lingering unsold for years at a time, but this new $12 million sale vaults the town back up toward the top of the year’s list of the highest sale prices. So far this year, only one other property in the Chicago area has sold for more, a new condo on Walton Street that went for $12.1 million in January. The Lake Forest house is tied for second place with two Winnetka properties that sold for $12 million each.

Aside from the 2006 and 2018 sales of this Mayflower Road property and the $11 million sale in 2007, there have been only two other $10 million-plus sales recorded in Lake Forest, according to Midwest Real Estate Data and Lake County public records. A mansion on Green Bay Road went for $10.36 million in 2004, and a developer paid $13.25 million in 2005 for a 7-acre property on Mayflower that he subdivided into three parcels or more. In recent years, the highest sale price in town was the $6.4 million that buyers paid in October for a mansion on Onwentsia Road.

More:


Look inside a Lake Forest mansion priced at $15 million​


Lake Forest launches campaign to attract homebuyers​

‘Gatsby’ estate sells after almost 10 years​



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