Yikes! We might have missed this entirely if not for one awake and alert tipster. The old-world lakefront Italianate villa designed by David Adler for Charles and Frances Pike has finally sold after more than five years of languishing. We're not entirely sure why, but deep price cuts plagued the listing with painful frequency. Starting out at $15M in mid-2006, the last listed price was just $5.59M. And the sale price, recently closed, was a paltry $4.1M— basically a quarter the original ask. Dennis Rodkin proclaims it the "steepest discount from a boom-time listing that I have found among the lakefront mansions." The wounds still fresh, it's not surprising that the doctor owners declined to give comment to Rodkin in his Deal Estate post earlier this week. The 1916 home has six bedrooms, 15,000 square feet, and a triumphant lawn and gardens fronting the water (for receiving the yachting masses yearning to break free). Jump over to Curbed National for a gazillion listing pics.
·Adler-Designed Villa Sells at Steep Discount in Lake Forest [Chicago Mag]
·An Impeccable Italianate Villa by David Adler [Curbed National]