Renovated Historic Mansion in Suburban Chicago to be Demolished

The owner of a historic Hinsdale mansion is planning to demolish the 13,000-square-foot property after struggling to sell it, even after it was featured in a national home-design magazine.

Mihai Sava, the CEO of Chicago-based Nova Lines, initially set out to restore the mansion’s early 20th-century design but found that demolition was the simpler option due to the scope of renovations, Crain’s reported.

Sava purchased the estate in 2022 for $7.5 million. The deal penciled out to about $756 per square foot. The home, at 505 South County Line Road, was owned by Fred Krehbiel, the late CEO of Molex, before Sava bought it.

The decision to demolish the mansion followed an extensive renovation effort in 2023. A renovation led by developer Julie Laux poured about $2 million into the property, including donations from vendors and labor. The result was a stunning makeover, but one that ultimately failed to capture the attention of prospective buyers. The renovation garnered a feature in House Beautiful magazine.

The mansion was listed for nearly $10 million that same year, but was taken off the market due to lack of interest. Potential buyers were deterred by the required renovations, including an outdated kitchen and other issues that didn’t align with contemporary expectations for luxury homes.

Another obstacle for the property was its high tax burden. Since the mansion is in Cook County, it carries a steep annual property tax bill. The estate’s 2023 tax bill was about $109,000.

Sava’s legal entity sold off a separate lot from the estate in September for $1.4 million, but the mansion hasn’t sold. A 0.69-acre lot is on the market priced just under $1.7 million.

The mansion’s demolition was approved this month and will include an eco-friendly deconstruction process. Hinsdale officials were disappointed with the loss of the historic mansion but noted that some of its elements, such as the library paneling imported from England, may be salvaged.

— Andrew Terrell