53-Acre Estate in Suburban Chicago Listed for $10 Million

A Grayslake mansion owned by the late founder of a mortgage company has been privately listed for just under $10 million.

The 9,000-square-foot estate, known as Eagle Nest Manor, was listed Tuesday for $1,110 per square foot, the Chicago Tribune reported. The estate is being marketed by Berkshire Hathaway HomeServices Chicago agents Kim Shortsle and Carleigh Goldsberry.

The 53-acre estate has been owned by Michele Giambrone and her late husband, William, for over two decades. William Giambrone died in August at the age of 60, prompting the sale of the property. Giambrone co-founded Platinum Home Mortgage with his brother Michael. Planet Home Lending, based in Connecticut, acquired most of the company last year.

Built in 1989, the Grayslake home has nine bedrooms, six full bathrooms, two half bathrooms, a movie theater, game room and sauna.

The grounds offer three fishing ponds, English gardens, fire pits, a sport court and volleyball court. It has an outdoor kitchen, a pool house, a hot tub and a gazebo. A barn with multiple garage spaces and honey bee colonies also come with the property.

The three parcels on which the estate sits are valued for tax purposes at $1.96 million, far below the asking price of the property. The Giambrones’ property tax bill came to $46,265 last year, according to Lake County records.

The luxury residential market in suburban Chicago has seen a surge in high-end listings, with areas like Lake Forest, Naperville and Lincoln Park drawing in affluent buyers looking for exclusivity and luxury.

Recent residential listings include a 15,000-square-foot mansion in Lake Forest for $28 million and a 20,000-square-foot mansion in Naperville for $10 million.

— Andrew Terrell