Mansion Custom Built For Electronics CEO Listed For $7.9 Million

LAKE FOREST, IL — A massive custom French Provincial-style mansion built a decade ago for an electronics CEO and his wife hit the market Monday with a $7.9 million price tag. The Onwentsia Road home became the third most expensive residential listing in town and the priciest property in Lake Forest not located on Lake Michigan.

The more than 10,600-square-foot home features 14-foot ceilings, intricate mill work, separate kitchens for large catered parties, a limestone terrace, large stone fire pit, hot tub, sauna and custom swimming pool, according to its listing.

The 17-room stone structure on more than 3 acres was built for sellers and original owners Jeffrey and Chrystal Gannon by the Chicago-based firm Liederbach & Graham.

The Gannons purchased the property in July 2007 for $4.3 million from a trust that had acquired it for $2.675 million in March 2003 from the family of a late attorney, CEO and radio station owner, according to property records.

UPDATE: CEO's Custom Mansion Is Most Expensive Lake Forest Sale In Years

After spending two dozen years at General Electric, Mr. Gannon, 66, was named CEO of Zenith Electronics in 1998 amid its restructuring and bankruptcy resulting in the formerly Glenview-based firm becoming a subsidiary of LG Electronics the following year. From 2000 to 2001 he was president and CEO of logistics company Allied Worldwide and from 2004-2007, he was chairman of the privately held flat panel display maker BrightView Technologies. In 2008, he was appointed chairman of the board of Vu1 Corporation, a Seattle-based lighting company, according to biography accompanying an SEC filing.

The custom property took five years to complete, according to its listing. It also includes an elevator, six interior stone fireplaces, dual heated garages with room for five cars, and custom marble, limestone and white oak floors.

According to the Lake County Assessor's office, the fair market value of the home and its yard is $3.78 million.

There are two Lake Forest home listed prices higher than the Gannons are asking, both are lakefront properties on Mayflower Road.

The "Wyldwoode" estate at was listed for $15 million last June, while the Schweppes Estate first put on the market in 2007 at $18 million in 2007 is now listed with an asking price below $9 million.

• Address: 55 E Onwentsia Rd, Lake Forest, Illinois
• Square Feet: 10,687
• Bedrooms: 8
• Bathrooms: 7 full, 4 half
• Last Sold: 2007 for $4.3 million
• Built: 2008
• Listed: Jan. 14 for $7.9 million

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