Lake Forest Mansion Fetches Largest Price Since 2022

A sprawling mansion sold for $11 million in Lake Forest on Wednesday, ending another powerful Midwest business family’s run at the property with an elite history of ownership.

The home at 930 East Rosemary Road is the most expensive sale in Lake Forest since 2022, when a Mayflower Road estate brought in nearly $13 million.

The eight-bedroom, nine-bathroom house was designed by architect Benjamin H. Marshall in 1912 and expanded in 1996 by Thomas Beeby. It covers 11,800 square feet. The property has a pool, outdoor gardens and a glass-paned indoor conservatory. There is an attached coach house, a guest house and a poolhouse on the estate. The outdoor space features ornate landscaping, gardens and open green spaces.

The home was sold by the estate of Posy Krehbiel, who died in 2022. She was the ex-wife of John Krehbiel Jr., who she bought the property with in 1988. John Krehbiel Jr. was the co-chairman of electronics company Molex, which Koch Industries bought in 2013.

The home was initially listed in August 2024 at nearly $15 million, making the final $11 million price tag around 73 percent of the asking price.

Property records that could indicate the buyers’ identity are not yet available.

Ann Lyon with @properties Christies International Real Estate represented the seller. Amanda McCmillan and Andra O’Neill, also with @properties, represented the buyers. They could not be immediately reached for comment.

The Krehbiels bought the house in 1988 for $1.95 million. They later expanded the property to include five parcels covering nearly 9 acres. It’s unclear if the latest purchase was for all parcels or if the buyer split off some of them. Krehbiel’s estate paid a little over $126,000 in property taxes on the five parcels in 2025.

The house was built in 1912 for John T Pirie, president of Carson Pirie Scott & Co, a dry goods and department store company. It was later owned by Laurance Armour Jr., part of the Armour meat packing family who was the vice chairman of the board at LaSalle Bank.

The sale is the latest in a year of success in Chicago’s luxury market. The North Shore has been the site of several home sales that surpassed $10 million. A $31.3 million estate in Winnetka set the record for the most expensive Chicago area home sale in history in August.