A Winnetka home sold for $4.8 million last week, a slight drop from its $5 million listing when it hit the market in July and one of several century-old mansions to test prices near the top of the market recently.
The 9,600-square-foot home on Hill Road has five bedrooms and seven bathrooms. Built in 1921 on over one acre, the home was renovated and redesigned in 2007, according to the listing.
Paige Dooley with Compass represented the seller, Jennifer Dempsey, who bought the property for $3.28 million in 2005, according to Cook County records. Jena Radnay with @properties Christie’s International Real Estate represented the buyers, who are not yet listed in public records.
The home is one block away from the Indian Hill Country Club, and is less than two miles from Lake Michigan. The previous owner did several additions during the renovation, including a new kitchen, family room, garden room and primary bedroom. The home was landscaped by Chicago-based Scott Byron and includes several gardens, an in-ground pool, croquet court and heated walkways. The property also includes a coach house with a three-car garage and a pool house.
The home is one of 27 to sell for $4 million or more in the affluent suburb this year alone, according to publicly available listing data. Just 10 sold at or above that mark in 2021.
The 5 percent price cut is significantly less than other homes in the area have taken in recent months.
This year’s top sale in the suburb, another century-old lakefront Winnetka mansion, sold for $12.75 million in August, at a steeper price cut. It was originally listed for 20 percent more at $16 million The buyers plan to replace the seven-bedroom property on 645 Sheridan Road with a new home . Built around 1902, it needed repairs and renovations, according to the buyer’s agent.
That sale may be beaten, should yet another century-old lakefront home also in Winnetka sell for its $15.85 million asking price.
The Mediterranean-style villa at 445 Sheridan Road came on the market in late September and is the second-highest priced property in the Chicago area. The 6,174-square-foot white stucco house with more than a dozen roof peaks sits on more than two acres and has 165 feet of Lake Michigan beach.
