Lake Forest Spec House Sells For Two Thirds Original List Price

LAKE FOREST, IL — A new construction custom home in east Lake Forest sold last week for two thirds of its original asking price. The French Provincial-style six-bedroom stone house at 980 East Illinois Road was first listed in May 2016, while construction was still in progress, with an asking price just shy of $5 million. It sold Friday for $3.35 million.

Located about two blocks from Lake Michigan, the property last changed hands in 2001 for $3.7 million. The current home at the site was completed in 2017, according to property records.

The home was built as a spec house by Admiral Builders on a 1.1-acre lot subdivided out of a parcel that included the 1926 James Gamble Rogers-designed house to its north, according to city records. Both parcels were sold in February 2001 for $3.7 million, according to its listing agent. Scott Streightiff was presented as the new home's architect.

According to a listing from Lakeshore Development Partners, the two-story, 15-room house features limestone details, a slate roof and copper finishes. The home's "design evokes timeless elegance while offering every imaginable modern finish and amenity," it said.

The home includes six fireplaces, a covered loggia, a three-season porch, two exterior terraces and a balcony off of the master suite, according to the listing. There is a finished lower level with a full bar, game room, wine room, exercise room and bedroom and bathroom.

Listing records show the home's asking price was reduced to $4.9 million in November 2017, $4.6 million in February 2018, $4.4 million in October 2018 and eventually $4 million in January.

Its 2018 tax bill was nearly $68,000 and its estimated market value for taxing purposes last year was about $2.7 million, according to Lake County records. The buyers have not yet been identified in public records.

• Address: 980 E Illinois Rd, Lake Forest, Illinois
• Built: 2017
• Lot Size: 1.1 acres
• Last Sold: $3.7 million February 2001 (along with 990 E. Illinois Road)
• First Listed: $5 million in May 2016
• Sale Price: $3.35 million on Aug. 16
• Square Feet: 8,700 square feet (including lower level)
• Bedrooms: 6
• Bathrooms: 6 full, 2 half

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