$10 Million Teardown Awaits Winnetka Demolition Permit

WINNETKA, IL — The Winnetka couple who closed a deal to buy a 110-year-old lakefront mansion for $10 million last week had already applied for a permit to tear it down.

The seven-bedroom Colonial Revival red brick mansion was designed by architect Joseph Llewellyn for Florence and Frank Magie—the founder of the Magie Brothers Oil Company. Llewellyn is also credited with 1924 remodeling of Horace Mann School and high schools in Highland Park and Lyons Township.

The nearly 3-acre property sits beside Maple Street Park and features 170 feet of private beach.

Its listing agent described it as "one of the most memorable houses on Sheridan Road today."

Last sold in 1996 for $3.2 million, the property was listed in August 2016 at $15.9 million before its asking price was eventually reduced to $12.9 million last February.

» See More Just Sold Homes in Winnetka

Its latest buyers requested permission last year to demolish the 20-room main house while keeping an existing coach house and pair of pool houses.

According to planning documents, the Winnetka Historical Society determined the building has architectural significance and recommended a historical architectural impact study.

The buyers were identified by Crain's Chicago Business as Janice and Philip S. Beck. Phil Beck – whose firm describes him as one of the leading courtroom lawyers in the country – was the attorney for George W. Bush in Bush v. Gore. He primarily tries commercial cases.

» Mystery Buyer Demolishes $8.5 Million Glencoe Mansion

The possible teardown of 735 Sheridan Rd. follows the recent demolition of another multi-million dollar home a few miles up the coast. The buyers who spent nearly $8 million on a Glencoe mansion tore it down and reportedly plan to replace it with a more than 27,000 square-foot home.

• Address: 735 Sheridan Rd, Winnetka, Illinois
• Sold for: $10 million
• Sold on: Jan. 4
• Square Feet: 8,113
• Bedrooms: 7
• Bathrooms: 5 Full and 3 Half Baths
• Built: 1905
• Features: Set on almost three acres of incredible sweeping grounds from Sheridan Road to Lake Michigan, there has never been an estate offered quite like this. Timeless and impossible to replicate, this bedrock British Colonial with matching Coach House is one of the most memorable houses on Sheridan Road today. It is hard to not pass the home and stare at its beauty and grandeur. Even better is the 170 foot wide clear views of beautiful Lake Michigan which is unmatched to any lakefront property. With an enormous green grass backyard that terraces down to the pool and 4 cabanas that are perfectly perched above the lake. Once you set foot on the private sandy beach with natural landscaping and wild sea oats, you will escape to another place as it's hard to believe it's still Winnetka. This is a home that needs to be "experienced" to understand it completely.... As there is simply nothing like it.

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