Lake Forest Mansion Price Cut to $25M

Chicagoland’s most expensive home listing took a $2.5 million price cut this week, more than a year after it first hit the market.

The 15,000-square-foot mansion at 595 Circle Lane in Lake Forest, on the grounds of a historic estate, had its price cut to $25 million on Tuesday. The six-bedroom, nine bathroom estate was listed at $27.5 million in September 2024, and has been on and off the market a few times at the same price.

Even with the 9 percent price cut, the home remains the priciest active listing in the Chicago metro area, surpassing an $18.5 million Gold Coast mansion on Dearborn Street. The asking price would make it easily the most expensive home ever sold in Lake Forest.

The Italianate-style mansion sits on a 5.3-acre lot with 570 feet of Lake Michigan frontage and includes a boathouse, swimming pool and spa. The property also has a garage complex with space for 22 cars.

The home is owned by Terry Rozdolsky, according to property records. Rozdolsky founded Lake Forest-based Harbortown Industries, a wholesale supplier of picture frames for retailers like Walmart and Target.

Rozdolsky purchased the site in 2010 for $4.5 million, property records show. He built the current mansion in 2019 after tearing down the existing home. Rozdolsky paid about $171,000 in property taxes in 2025, county records show.

Ann Lyon, the @properties agent representing the seller, did not respond to a request for comment.

One of the estate’s unique features is a grand staircase descending the bluff to the lake, a remnant of the Villa Turicum estate that once occupied the site.

The 269-acre Villa Turicum estate was established in the early 20th century by Harold McCormick — son of International Harvester founder Cyrus McCormick — and Edith Rockefeller McCormick, the daughter of John D. Rockefeller. The opulent 44-room home, designed by architect Charles Platt, fell into disrepair after Rockefeller McCormick’s death in 1932, and it was eventually demolished, with the land split up into 161 separate lots.

The latest price cut comes after North Shore homes reached unprecedented price levels in 2025. Two homes in Winnetka each sold for more than $30 million last fall, marking the most expensive home resales in Illinois history.

Lake Forest has seen some eight-figure deals recently, as well. An 11,800-square-foot mansion sold for $11 million in October. The home was sold by the estate of Posy Krehbiel, a Lake Forest socialite and philanthropist and the ex-wife of John Krehbiel Jr., the co-chairman of electronics company Molex.

In 2022, the widow of filmmaker John Hughes sold a Lake Forest home for nearly $13 million.

In Chicago, other luxury homes cut prices this month, as the downtown market continues to adjust after a long downturn. A duplex condo at 950 North Michigan Avenue was relisted on Monday at $5.5 million after previously asking $6 million. The 9,000-square-foot home hit the market in September and is being marketed by Ryan Preuett and Tim Salm of Jameson Sotheby’s International Realty.

At the St. Regis Chicago at 363 East Wacker Drive, a 4,700-square-foot unit, also listed by Preuett, took a $450,000 price cut in early January. The owner is now asking $6 million for the condo.