Lake Geneva Waterfront Home Sells for $8.3M

A home on Bayview Drive was the latest to sell for more than $8 million in Lake Geneva last week, extending the bull run on lakefront property in the Wisconsin resort town this fall.

The home at 831 Bayview Drive sold in an off-market transaction on Nov. 17 for $8.3 million. The 7,100-square-foot house has five bedrooms and two bathrooms. It has between 50 and 100 feet of lake frontage, according to listing information.

Compass agent Daniel Oleston represented the sellers, and Wendy Murphy with Mahler Sotheby’s International Realty represented the buyers. Both declined to comment on the sale.

The home’s buyers appear to have traded their previous Lake Geneva residence for the larger Bayview Drive home. The buyers were Philip and Melody Lekousis, who sold a 3,300-square-foot house on Park Drive for $6 million earlier in November, according to public records. Wayne and Brenda Williams were the sellers.

Lake Geneva, along with other Chicagoland waterfront getaways like the North Shore and southeast Michigan, has had a luxury market boom this fall. The Bayview Drive sale is the seventh lakefront home to sell in Lake Geneva since October, and the fourth to fetch a price of more than $8 million. One of those homes is next door at 837 Bayview Drive, which sold in October for $8.6 million.

Other notable sales this fall include a Lake Shore Drive house that closed for $10.3 million, about $500,000 above its asking price, and another on Bonnie Brae Lane that sold for $8.7 million.

The highest sale price for Lake Geneva this year came in June, when an estate on Lackey Lane sold off market for $20 million.

The Bayview Drive house was last sold in November 2022 for $5.8 million. The 2025 price tag marks a 43 percent appreciation in about three years, in line with other homes on the lakefront that have seen their values surge in the post-pandemic years.

The fall heat may be cooling down going into the winter: only two lakefront homes are currently listed for sale in Lake Geneva, and both appear to have had trouble finding buyers.

A 7,800-square-foot spec build was listed for nearly $10 million in September, and dropped its asking price by about $1 million on Friday. A 3,900-square-foot log cabin-style home has struggled to find footing, cutting its ask from $6.75 million in August to a current $5.6 million after two price chops.