Pabst Manor In Glencoe Sells For Loss

GLENCOE, IL — Glencoe's historic Pabst Manor sold at a loss last month, marking the fourth time the mansion has changed hands in the last 20 years. Built back in 1936 for the head of Pabst Brewing, Harris Pearlstein, the extravagant 14,000-square-foot, eight-bedroom estate on 2.2 acres sold for nearly $7 million back in 1999.

It sold again in 2009 for $5.2 million. A few years later, it was purchased for $4.8 million, and less than a year later, it returned to the market. A series of price drops followed and the property was eventually sold Oct. 27 for $3.75 million.

The closing price represents a 26 percent drop from the price paid by insurance executive Jeffrey Lange, who previously told Crain's Chicago he was unable to move to Glencoe from Chicago after buying the house for "personal family reasons." Property records do not yet indicate the new owner's identity.

The home was designed by architect William Pereira, who was born in Chicago and went on to design such notable buildings as the Transamerica Pyramid in San Francisco and the Baghdad International Airport in Iraq.

• Check out more images of 443 Sheridan Rd. from realtor.com

Among the highlights are an original Pabst bar, a pool, spa, sport court, grand salon, solarium, restored walnut library, gym, elevator and coach house.

• Address: 443 Sheridan Rd, Glencoe, Illinois
• Closing Price: $3.57 million
• Square Feet: 14364
• Bedrooms: 8
• Bathrooms: 8 Full and 4 Half Baths
• Built: 1936
• Features: Compelling price and amazing transformation with new pictures!The Pabst Manor, exemplifies the grandeur of yesteryear with the luxury amenities of today. This extraordinary gated residence features grand sized rooms, rich architectural details and a classic floor plan designed for both large scale entertaining and intimate family gatherings. Set on a private 2+acres featuring a resort worthy yard with a pool, spa and sport court. 8 bedrooms and 8.4 baths, a grand salon with sweeping staircase, elegant living room, formal dining room, commercial grade kitchen, sun-room, solarium and restored walnut library. The 3rd level has an amazing gym/workout room and 2 full baths. The fabulous lower level has a family room, theater, barber shop and original Pabst bar. Large renovated coach house, 4 car heated garage with wash station, Elevator.

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