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Famed Schweppe Estate Returns to Market With $2M Price Cut

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The famous 25,000 square foot Schweppe Estate in Lake Forest has returned to the market this past week with a $2.05 million cut from its most recent $12 million ask bringing the price down to $9.950 million. The sprawling 27 room mansion was built in 1917 by former Marshall Field & Co. chairman John G. Shedd for his daughter Laura and son-in-law Charles Hodgson Schweppe. Designed by Frederick Wainwright Perkins, the stately home sits on five lakeside acres and can only be described as one of the greatest homes ever built in the Chicagoland area. Despite its grandeur, the home has had a bit of a checkered past. Back in the early '40s, Charles Schweppe was found dead in the home, leaving behind a note that read, "I've been awake all night. It's terrible." The home was then left vacant for over 40 years until it was purchased and restored in 1987. In 2007, right before the recession crippled the country's real estate market, the home was listed for a whopping $18 million. It didn't sell however, and in 2010 the estate was repossessed by a suburban bank. Today, it is back on the market and looking better than ever. For just under $10 million, this extraordinary piece of architectural history can be had.

·405 N Mayflower Road, Lake Forest IL, 60045 [Berkshire Hathaway KoenigRubloff Realty]
·405 North Mayflower Road, Lake Forest, IL [Estately]
·Famed Schweppe Estate Back on the Market for $12 Million [Curbed Chicago]