$35 Million Listing in Suburban Chicago has a Buyer

A lakefront mansion with an eight-figure asking price in Winnetka is set to break Chicago’s home sale record.

Former Goldman Sachs partner Muneer Satter has secured a buyer for his North Shore estate at 419 Sheridan Road, the Chicago Tribune reported. Jena Radnay of @properties Christie’s International Real Estate is the listing agent. Transaction details, including the buyer and sale price, have not been disclosed. The asking price is over $2,500 per square foot.

If the mansion sells near the $35 million price, it will become the most expensive single-property sale in the Chicago area, eclipsing the previous record of $25 million.

Billionaires such as Justin Ishbia and Ken Griffin have each assembled property valued beyond that threshold, but no singular sale has reached the $35 million mark.

Ishbia spent $33.7 million on adjacent properties in Winnetka. The Shore Capital Partners founder plans to merge his four lakefront lots, spanning 3.7 acres, to build a $44 million mansion near Centennial Park.

Griffin previously paid $58.75 million for four floors at 9 West Walton Street, in four transactions, later selling some of them, including a $19 million sale to Gov. J.B. Pritzker.

Filmmaker George Lucas and wife Mellody Hobson acquired an $11.2 million penthouse in 2023, combining it with a prior $18.7 million purchase and adding a $3.5 million renovation budget, totaling $33.5 million.

The Winnetka property, situated on 2.3 acres along Lake Michigan, includes a 13,900-square-foot mansion with 220 feet of private beachfront. Built in 1928 and designed by the Mayo & Mayo architectural firm, the residence has undergone significant renovations under the retired investment banker’s ownership.

The seven-bedroom home boasts a heated motor court, an infinity pool and a double-door boathouse. Satter acquired the property in two transactions, purchasing the main house for $9.5 million in 2002 and an adjacent parcel for $4.1 million in 2013.

Satter’s estate, known as Windsor House, had a 2023 property tax bill of $214,500.

Winnetka continues to attract multi-million residential transactions. The suburb recorded 99 sales of $4 million or more last year, trailing just behind the 2022 peak of 136.

— Andrew Terrell