A Lake Bluff, Illinois home sold for $7 million after spending about a month on the market, confirming the Chicago area’s luxury market is still hot.
The mansion is on Shore Acres Drive in Lake Bluff and is the second home to sell in that suburb for more than $7 million this spring.
The home was listed on March 9 for $7.7 million. It closed on April 12 for $7.94 million. The sellers were William and Karen O’Kane, according to Lake County public records. They purchased the home in 2001 for just under $2.5 million, and had previously listed it in May 2021 for $9.95 million.
In March, another Lake Bluff property sold for $7.65 million, which was likely a record setting deal. Lori Baker, a Compass agent, represented both the sellers and the buyers. She didn’t respond to a request for comment. The buyers aren’t identified in public records.
William O’Kane is manager of Group Fox, a Chicago-based multifamily property management firm. 1717 Shore Acres Dr (Zillow) The home includes indoor and outdoor pools and 320 feet of Lake Michigan Shoreline. The three-acre property includes a 10,000-square-foot home as well as a 3,000-square-foot boathouse near the shoreline.
The home was built in 1989, but the interior has been updated. The main house includes six bedrooms and five baths, as well as an indoor pool with a water tunnel that connects to the outdoor pool. The home is the 33rd property to sell at or above $4 million so far in the Chicago area this year. It’s been an especially successful year for suburban properties, with both inner suburban sales and those leaving the city and looking for more room after working from home during the pandemic.
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