Historic Lake Forest Mansion Sells for $5.7 Million

A 15,000-square-foot mansion in Lake Forest has changed hands for the first time in half a century.

The historic Suffield House, a seven-bedroom estate built in the 1930s for Chicago’s Lolita Armour, sold for $380 per square foot, Crain’s reported.

The 5.4-acre property at 255 North Green Bay Road was listed for about $10 million in September 2022 before the price was reduced five times. The sale closed on Nov. 15 at $5.7 million, just above the last asking price of $5.5 million.

Mona Hellinga of @properties Christie’s International Real Estate represented the buyer, who wasn’t identified. Jennifer Ames of Engel & Voelkers represented sellers, the heirs of longtime owner Roland Casati, a commercial real estate executive who died in 2022.

Suffield House, named by its original owner, Lolita Armour, was a reflection of her journey from financial devastation to renewed prosperity. After the collapse of her husband’s meatpacking empire, Armour rebuilt her wealth through strategic investments, including the purchase of prime Chicago real estate.

The Casati family, who acquired the property in 1971, kept the estate largely unchanged, preserving much of the 1930s craftsmanship. Casati and his wife Arlene ensured that the home maintained its historical integrity by adding only minimal updates to the estate, such as modernized utilities and a pool house.

“When you look at it now, you’re looking at it as close to how it was in 1934 as possible.” Casati’s son-in-law, Kevork Derderian, told the outlet.

The home was equipped with several modern amenities ahead of its time, including a 4-stop passenger elevator and central heating and air conditioning.

Suffield House joins this year’s notable Lake Forest transactions, including the $6.27 million sale of an estate on Mayflower Road, which was sold in an off-market transaction.

The North Shore market has seen several notable listings this year, including a $28 million estate at 595 Circle Lane, a $7.5 million estate on Onwentsia Road and a Lake Michigan estate along Bluffs Edge Drive, listed for $12 million.

— Andrew Terrell