Lakefront Winnetka mansion owners seek $16M to extend luxury listing spree

An unusually high number of homes on Chicago’s suburban North Shore are asking for more than the ultra-rare threshold of $10M

<p>A photo illustration of 973 Sheridan Road in Winnetka (Getty, Christie&#8217;s International Realty)</p>

A photo illustration of 973 Sheridan Road in Winnetka (Getty, Christie’s International Realty)

A lakefront mansion in Winnetka is set to become the village’s latest high-end listing, adding competition for an already unusual number of ultra-luxury homes asking more than $10 million on Chicago’s North Shore.

The seven-bedroom estate, located on 1.75 acres at 973 Sheridan Road, is expected to hit the market for $16 million, or about $1,657 per square foot, the Chicago Tribune reported.

Winnetka — the Chicagoland area’s most exclusive submarket — has drawn several high-end listings in recent months, despite the region’s home sales rarely crossing the eight-figure threshold. These include Muneer Satter’s $35 million lakefront estate listing and another mansion asking for $18 million nearby. In a separate transaction, former Chicago Cubs pitcher Kerry Wood recently sold his Winnetka home for $8.5 million.

Other massive residential efforts currently underway in the North Shore area include billionaire Justin Ishbia’s $77.7 million compound that’s under construction, as well as four Lake Forest mansions on the market for more than $10 million. There’s also a Glencoe mansion for sale at $10.9 million.

The newest Winnetka listing’s owners Luke and Maggie Kelly paid just under $6.19 million to acquire the property in 2017. The couple acquired it from former Corus Bank CEO Robert Glickman, who had held the property since 1997 when he bought it for $5.5 million from late philanthropists Ann and Robert Lurie. The Luries built a more than 14,000-square-foot home on the property in 1991, and it’s unclear whether the Kellys performed a major overhaul of that home or tore it down completely and rebuilt anew.

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The new listing features a home spanning more than 9,600 square feet.

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Development
Chicago
Murphy Development targets wealthy renters for Winnetka apartments

Sitting on 1.75 acres with 100 feet of beachfront on Lake Michigan, the home’s renovation or construction was completed in 2020 by Scott Lyon & Co. and designed by architect Paul Konstant. It includes expansive floor-to-ceiling windows, soaring ceilings and high-end finishes throughout.

The property boasts eight full bathrooms, two half-bathrooms and is equipped with amenities such a sports court, golf simulator, home theater and playroom. Outside, the property features a guesthouse, patios, a screened porch and a heated three-car garage.

— Andrew Terrell

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