Off-lake Winnetka mansion hits market at $7M

Another ultra-luxury North Shore listing on Winnetka’s Locust Road hit the market today at just under $7 million. 

The 14,400-square-foot home is priced at $487 per square foot.

Top Chicago broker Jena Radnay has the listing, at 81 Locust Road, and has been marketing it as the area’s finest “off-lake resort living,” she said. In a time when lakeshore properties are highly sought after, the property’s location within a 5-minute drive from the lake is a big selling point. 

The first few months of this year saw price cuts on some ultra-luxury listings in the North shore area as agents noticed a growing number of buyers were viewing high-end homes as teardowns because of the desire for a lakefront property. But Radnay said the area has been transacting well. 

“The North Shore market is doing great right now,” Radnay said. “I priced it to get as many eyes as possible. We’ll see what the market has to say … I think I priced it appropriately for today’s market for luxury.”

Radnay declined to comment on the identity of the seller of the Locust Road property. 

The home is owned by Susan and Kevin Kroeger, according to property records.

In discussing the pricing of the property, Radnay compared it to her listing at 969 Hill Road that sold in December. The Locust Road property is “almost triple the square footage,” she said.

The Hill Road property was listed at $6.9 million before selling at $6.2 million, $1,000 per square foot. It was only on the market for five months and marked the seventh residential property on the North Shore to sell for over $4 million last year. 

The 7-bed, 10-bath home on Locust Road sits on 1.53 acres. It has three floors and a basement as well as a large pool, according to the listing.

The mansion was custom built in 1999, with high ceilings and large bedrooms.

Read more

Chicago

Winnetka reacts to Ishbia megamansion with lot-size regulations

Chicago

Chicagoland talent fight: Compass, @properties trade suburban brokerage teams