$3M Price Hike For 'Palace' Unsold For 7 Years In Lake Forest

LAKE FOREST, IL — The 'Innisfall' estate was built in 1915 by David Adler and Henry Dangler to the newly married heirs to two of Chicago's elite Irish industrialist families, Jean Morton Cudahy of the Morton Salt fortune and Joseph Cudahy, from a family of meatpacking magnates. The Chicago-based architects designed the home after a palace in Monaco and named it after an old poetic name for Ireland, according to Crain's Chicago Business.

The 13,814 square-foot, eight-bedroom mansion sits amid in the trees south of Deerpath Road in west Lake Forest with private gated entry to more than two acres of land. There's also a recently-added pool, sauna and statuary, original tennis court, beautifully paneled library and a three-car garage. According to its listing, it combines a classic form with a resort lifestyle and includes many of the original elements of the home. The exquisite home lives as well today as it has for the past century, offering a luxurious lifestyle and "lavish entertaining options."

» Check out more images of Innisfall at its Realtor.com listing

» More images via Realtor.com listing for 275 Sussex Ln.

Its large open spaces on the first floor open to the outdoors for large events or small private gatherings. It includes eight full bathrooms and three half baths and four interior fireplaces. The second floor bedrooms offer views of the grounds and there's also a third-floor "bar/party room."

» Check out more images at the property's Realtor.com listing

The property has spent the better part of the last decade on the market, and on Aug. 28, it was relisted at $3 million more than its previous listing price. The asking price has been as high as $11 million and as low as $4.9 million. According to Crain's, 'Innisfail' was bought for $1.4 million by Barbara Pagowska-Cooper and her late husband, Roman Cooper, who have renovated and restored the house.

• Address: 275 Sussex Ln, Lake Forest, Illinois
• Price: $7,900,000
• Square Feet: 13814
• Bedrooms: 8
• Bathrooms: 8 Full and 3 Half Baths
• Built: 1915

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