Historic Lake Forest Mansion Listed for $15M

One of Lake Forest’s most distinguished estates has hit the market for nearly $15 million.

Sitting on 9 acres near Lake Michigan, the Georgian mansion has been a home to some of the area’s wealthiest families for over 120 years, with a history that reads like a who’s who of Chicago’s elite, Crain’s reported.

Built in 1905 by architect Benjamin Marshall, the estate spans 11,800 square feet at 930 East Rosemary Road. The home includes an eight-bedroom main house, an attached coach house and a conservatory. It boasts a sweeping staircase, stone fireplaces and a rustic sitting room adorned with botanical prints.

During its 12 decade history, the home was owned by several prominent families. John Pirie Jr. of Carson Pirie Scott & Company and his wife, Sophie, were its first owners. The estate later became part of the Armour family dynasty, with Laurance Armour Jr. and Margot Armour taking residence. In 1988, the property was purchased by Posy and John Krehbiel Jr. for $1.95 million, or today’s equivalent of about $5.18 million and $439 per square foot.

Under the Krehbiel family’s ownership, the estate underwent major renovations and a decade-long expansion. In the mid-’90s, the Krehbiels acquired two adjacent properties, allowing expansion of the gardens and addition of the pool house, pool and guest house.

The home is being marketed by Ann Lyon of @properties Christie’s International Real Estate.

Although Posy Krehbiel died in 2022, the mansion and the grounds have been well maintained since then, Lyon said. The parcels the Krehbiels added could be split off, but the family hopes to find a buyer who will preserve the property in its entirety, she said.

The sale comes amid a wave of high-end listings in the Lake Forest neighborhood. Notable listings include a $12 million estate built by the late businessman and musician Tom Fuller, a $5.18 mansion owned by the former COO of home appliance maker Whirlpool, and a $4.4 million home owned by a former federal judge and Boeing executive.

— Andrew Terrell