Biggest Lake Forest Sale In 6 Months: Former Home Of Reynolds CEO

LAKE FOREST, IL — A 90-year-old Lake Forest mansion designed by Stanley Anderson which received a preservation award for renovations sold in February for $4.6 million to become the city's priciest home sale of the year so far.

Property records show the 0.82-acre Sheridan Road property last purchased by a tin foil and trash bag magnate was sold to the chief of a utility industry consulting firm.

The five-bedroom stone home includes about 5,600 square feet of aboveground living space. The kitchen features a large marble island.

---

The kitchen opens to a family room, with one of the house's five fireplaces and multiple French doors looking out to the home's landscaped back yard and bluestone terrace.

---

The home's finished basement includes an additional 1,800 of living space with a game room, wine cellar, exercise space and en-suite bedroom.

---

John Griffith was the first resident of the home listed in phone books archived by the History Center of Lake Forest-Lake Bluff.

Griffith, an influential real estate and insurance businessman who played a major role in the development of Lake Forest prior to the Great Depression, lived there in 1930, according to the listing.

The firm that still bears his name — Griffith, Grant & Lackie — is Lake Forest's oldest real estate firm and was the listing agent ahead of the home's recent sale.

Phone books from the home's early years indicate D.F. Kelly lived in the home in 1934, it was the residence of Philip D. Armour Jr. in 1942, M. Scott Bromwell lived there in 1946 and Laurance H. Armour Jr. listed it as his address in 1957.

---

In May 2014, former owners Lance and Meredith Mitchell purchased the home for $2.55 million, and renovated the property. Since 2011, Mr. Mitchell has been the president and chief executive officer of Lake Forest-based Reynolds Consumer Products, the parent company of the makers of Reynolds Wrap and Hefty Bags. Since 2019, Ms. Mitchell has been the manager of Palm Beach, Florida-based Meredith Mitchell Designs.

In 2017, the home was honored with an award from the Lake Forest Preservation Foundation after renovations to the historically significant home by Lake Forest Landmark Development and The Goebeler Company. The expansion included an interior renovation, the construction of a two-story addition in the rear of the house and an expansion of the original garage to make room for two cars.

"Not only was the architect’s expansion plan sensitively designed to minimize its impact on the original structure, but the craftsmanship of the new stonework to match the original is outstanding," according to the foundation.

---

After the couple divorced, the deed was transferred to Ms. Mitchell's name, and she listed the home for sale in April 2020 for nearly $5 million — almost twice what the Mitchells had paid for it. An offer was accepted in November, records show.

Buyers Fred and Michele Smith paid $4.75 million for the property in February, making it the most expensive home sold in Lake Forest since the $5 million purchase of Mayflower Place in September 2020.

Mr. Smith is the president and founder of Chicago-based Utilities International. Mrs. Smith has served as national rescue chair for the American Miniature Schnauzer Club.

According to the Lake County Assessor's Office, the taxable value of the property was less than $2.64 million. Its annual property tax bill was over $46,000 last year.

• Address: 800 N. Sheridan Road, Lake Forest
• Built: 1931
• Lot Size: 0.82 acres
• Bedrooms: 5
• Bathrooms: 6 full, 2 half
• Square Feet: 5,576 aboveground, 1,800 in lower level
• Last Sold: $2.255 million in May 2014
• First Listed: $4.995 million in April 2020
• Closing Price: $4.75 million Feb. 8