Construction Begins on New Lakeside Terrace Home

GLENCOE, IL - A blufftop home that owners are paying nearly $10 million to have constructed is going up on Lakeside Terrace in Glencoe.

The home will take up 12,500-square-feet on 1.2 acres of Lake Michigan shoreline, according to a Crain’s Chicago report. The property is owned by David Snyderman, who is the global head of fixed income at Evanston-based Magnetar Capital Partners.

Snyderman purchased the land for $3.96 million and construction costs are estimated at $6 million.

Not much is known about the design of the home other than that it will two stories tall.

Right next door to the home under construction is a 105-year-old mansion that has been owned by Alberto-Culver co-founder Leonard Lavin for 50 years. At age 97, Lavin is now selling the 16-room Howard Van Doren Shaw home for $8 million Crain’s and Chicago Tribune’s Elite Street have reported.

That home features hardwood floors, an elevator, glass-enclosed heated porch overlooking the lake and a three-car garage.

Photo via Google Maps screenshot