Winnetka’s luxury market roars back with second $8M-plus sale of 2020
No deals over $5M happened in 2019 in the suburban town
A lakefront estate in Winnetka closed on Monday for $8.2 million, giving renewed hope to a high-end suburban market that has struggled to reach former heights.
The sale of the 1.4-acre estate at 205 Sheridan Road — also listed as 209 — marks the second $8 million-plus deal in Winnetka this year, after “Le Grande Reve” sold in June, according to Crain’s. There wasn’t a single sale over $5 million in 2019 in the tony suburb.
It’s unclear who bought the property, which features a four-car garage and nearly 150 feet of private beach access, according to a rather spartan MLS listing. Susan Miner of Premier Relocation represented both the buyer and seller.
Crain’s speculated that a developer intent on demolishing the 1950s-era home and building a new structure was the buyer. Two days before the sale was made public, the owners of a 1.1-acre property next door raised the asking price on their home to $12 million from $9 million.
The owner of the home that sold is Robert Britz, who runs a petroleum company and spends part of the year in Southern California. Records show he bought the home in 1993 for $600,000. [Crain’s] — James Kleimann