Chicago’s famous Pabst mansion sells for “just” $3.57M

The palatial former estate of Pabst Brewing Company boss Harris Perlstein has finally sold in suburban Glencoe, Illinois. Situated on two-and-a-half acres of gated ground off of Sheridan Road, the 14,300-square-foot, eight-bedroom Georgian was designed in 1936 by William Pereira. The Chicago-born architect later went on to pen futuristic structures such as San Francisco’s Transamerica Pyramid skyscraper and the control tower at LAX.

Coldwell Banker Residential

Just ten months after selling to insurance executive Jeffrey S. Lange in 2014 for $4.8 million, the former Pabst property was back on the market for nearly $6.3 million. Two-plus years and ten price chops later, the North Shore home finally sold last Friday for $3.57 million, reported Crain’s.

The stately mansion appears to be following a trend of changing hands for a progressively lower amount: Starting in 1999 when the home fetched $6.95 million. The property next sold in 2009 for $5.2 million followed by the $4.8 million sale to Lange in 2014.

It’s unclear if the mansion’s condition had any bearing on the latest price drop. The most recent MLS listing featured no interior photography, noted Dennis Rodkin of Crain’s. Despite the reduction, $3.57 million still, however, buys a lot of cases of PBR.

• Pabst mansion sells for less—again [Crain’s]
• Pabst mansion is back on the market after another hefty price chop [Curbed Chicago]
• Palatial Pabst mansion takes another big price cut [Curbed Chicago]