Red-Hot Lake Geneva Demand Draws $10 Million Unsolicited Offer

Waterfront property in Lake Geneva rarely hits the market, something that prompted a buyer to make an offer for a property that wasn’t for sale, and it worked.

The 7,000-square-foot, six-bedroom home on 1 acre in the South Shore Club development at Lake Geneva sold for $10.1 million this week to a buyer who presented an offer, Crain’s reported. The price works out to $1,442 per square foot.

The home, at N1626 Lakeside Court, is on the southern shore near the lake just off South Lake Shore Drive. The sale is the second-highest priced home sold in the Wisconsin lakefront area. In June a home sold for almost double. A 5-acre, 10,800-square-foot home at W3806 Lackey Lane for $20 million, or $1,852 per square foot.

Daniel Hodgman of Coldwell Banker represented the buyers and said that they spent two years searching for a home on the lake and had begun networking in the area to see if anyone was willing to sell. Hans Melges of Melges Real Estate represented the sellers, George and Antoinette Flaherty. Melges said they had been considering selling in a few years but the offer pushed forward their decision.

South Shore Club is a 38-home development built on the former campus of the Northwestern Military Academy. The homes do not sit directly on the lake but are positioned near the club’s 1,500 feet of lakefront. The club owners association keeps piers and boats for common use among residents, maintained by staff.

Built in 2005, the home was purchased by the Flahertys in 2013. The home features stone walls with built-in staircases, a semi-hidden spiral staircase and other castle-like aesthetic features.

Residential properties on Lake Geneva have sold in the double-digit millions range in recent years. The historic Aloha Lodge sold last year for $22 million. A home sold for $17 million in 2023 only to be torn down, and in 2022, the estate of Richard Driehaus sold for $36 million to J. Christopher Reyes and Anna Reyes of Reyes Holdings.— Eric Weilbacher