Grossinger Family's Lakefront Tony Grunsfeld Home Sells For $4.7M

HIGHLAND PARK, IL —A lakefront ranch-style house designed by a notable local modernist architect sold last week for $4.7 million in Highland Park's most expensive residential home sale in more than three years. The sale closed Friday, less than six weeks after first hitting the market.

Sitting on 2.4 acres, the property includes a 230-foot private beach on a cul-de-sac off Sheridan Road. The "U"-shaped, 11-room, single-story stone design was built in 1982 by architect Tony Grunsfeld, the designer of close to three dozen lakefront properties for various prominent and affluent North Shore residents among the 130 homes he designed before his death in 2011.

The home's former owner, Irwin Grossinger, inherited a local Pontiac dealership and grew it to the largest U.S. dealership to ever be sold by a foreign firm. He died in 2000, and his wife passed away last June, shortly after their children sold the most of the dealership chain to Edmonton-based AutoCanada and the rest to the Michigan-based Zeigler Automotive group.

The family's former contemporary ranch includes an indoor pool, two wood-burning fireplaces and a stone patio with a built in grill.

The property was listed on March 10 for just under $5 million. Its sale was listed as pending on March 25 before closing on April 19 for 6% under its asking price.

According to the Lake County Assessor's Office, the estimated market value of the property is $4.56 million for taxing purposes and its annual property tax assessment is nearly $117,000.

Grossinger Family's Tony Grunsfeld Ranch Listed For $5 Million »

The home is Highland Park's most expensive sale since August 2015, when Marathon Pharmaceuticals CEO Jeff and Lisa Aronin purchased a home at 53 Sycamore Place for $10.875 million, according to Crain's Chicago Business, which first reported last week's sale.

The priciest home sale in Highland Park last year was Highland Baking CEO Stuart and Leslie Rosen's $4.2 million purchase of a 1920 lakefront property at 2423 Egandale Road with a private electric tram and a pool on a 1.8-acre lot.

Crain's reported about 50% more homes have sold in the Chicago area for $4 million or more this year compared to last year. A broker for buyers, who have not been identified in public records, told the newspaper the new owners are Tony Grunsfeld enthusiasts who plan on improving the home and investing in landscaping.

The most expensive home sale in the Chicago suburbs so far in 2019 has also been a lakefront Grunsfeld-designed home. A 1997-built home at 320 Shoreline Court in Glencoe was sold by a Thai paper magnate for $5.15 million to as-yet unidentified buyers.

Tony Grunsfeld-Designed Glencoe Home Is Year's Priciest To Date »

• Address: 54 Oakvale Road, Highland Park
• Built: 1982
• Listed: $5 million on March 10
• Closing Price: $4.7 million on April 19
• Square Feet: 10,567
• Bedrooms: 4
• Bathrooms: 5 full, 3 half
• Built: 1982

Listing information originally appeared on realtor.com. For more information and photos, click here.

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