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This Winnetka home just sold for $12 million

A newly built lakefront house in Winnetka sold for $12 million, the highest price paid for a home in the town since mid-2013. It’s the second-highest amount paid for a Chicago-area home so far in 2018, behind a $12.1 million condo sale in February in the not-yet-complete No. 9 Walton tower in the Gold Coast.

The Winnetka house, on Sheridan Road, is an eight-bedroom, 13,500-square-footer with 130 feet of Lake Michigan beach and a pool, according to the listing information posted by Milena Birov of @properties. It was built by Heritage Luxury Builders, a firm operated by Birov and her husband, Leo Birov.

The buyers are not yet identified in public records, and their agent, Jena Radnay of @properties, did not respond to a request for comment.

Milena Birov declined to identify the buyers but said the house was not built custom to their specifications. They put it under contract when it was “about 90 percent finished,” she said. “They liked our finishes and didn’t change them.” The house has contemporary finishes, an elevator, a sports court whose floor is 18 feet below the ground, a four-car garage and a funicular, a cable-driven lift between the blufftop land and the beach below, Birov said.

The listing did not include photos of the completed house. Heritage Luxury’s original asking price for the house, when it was put it on the market in July 2016, was almost $13.8 million. The firm bought the 1.3-acre site in late 2016 for $4.25 million, according to the Cook County Recorder of Deeds. The sale eclipsed a $10 million purchase earlier this year of a lakefront site in Winnetka where it’s not yet clear whether the buyers will demolish the existing home, as they applied to do before buying the property. It topped all other home sales in the town since mid-2013, when buyers paid $12.7 million for a 15,000-square-footer also built by Heritage Luxury.

The sale of that property, recorded as $12.7 million in the multiple listing service, may have included some items that were not a fixed part of the real estate. In the county’s land records, were only fixed property counts, it was recorded as a little less than $12 million, and Milena Birov has since declined to explain the difference between the two amounts. In 2012, a Spanish-style villa in Winnetka sold for $12.25 million. There was also a $28 million transfer between members of the Crown family in 2015, but Crain’s determined that was not an on-the-market sale.

 

By Dennis Rodkin, Chicago Crains Business

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