Former Merc leader’s Lake Bluff home sells for $4M

The sprawling Lake Bluff home that belonged to the late Jack Sandner, former head of The Chicago Mercantile Exchange, sold after three months on the market.

Sandner ran the Merc in the 1980s and 90s and passed away last year at the age of 79. His wife Carol sold the secluded 14,000-square-foot lakefront home for $4 million, Crain’s reported. The nine-bedroom home sits on more than seven acres.

The estate was listed by Cory Green of Compass.

The buyers, who weren’t identified in public records, were represented by Brad Andersen, also of Compass.

The property has 388 feet of shoreline along Lake Michigan, a helipad, boat dock and par-3 golf hole. The grand mansion was built in 1930 and the Sandners added a long window-lined extension that stretches toward the bluffs.

It’s the 106th home in the Chicago area to sell for $4 million or more in 2022, which has exceeded the 101 sales at that level in all of 2021. It’s also the sixth sale at that price point in Lake Bluff so far this year. Only one house sold for $4 million or more in the village during each of the previous two years.

Sandner listed the home for $4.5 million along with just under five acres of land. She also listed the remaining land for $1.2 million. However, the buyer was able to secure both listings for just $4 million.

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Chicago

Listing for $14M Lake Bluff mansion comes back on market

— Victoria Pruitt