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Lake Forest SFR Under Contract At Historic Green Bay Road Estate For $7.9M

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SOLD
$7,990,000

Illinois

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Single Family Residence15,000 SF
Sold 07/26/2023
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SOLD

Lake Forest SFR Under Contract At Historic Green Bay Road Estate For $7.9M

255 N Green Bay Rd, Lake Forest, IL 60045

See Similar Deals
Single Family Residence15,000 SF
Sold 07/26/2023
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Summary

ILLINOIS
Asset Type:Single Family Residence
Price Per Square Foot:$532
Total Square Footage:15,000 SF
Transaction Type:Sale

The historic Lake Forest estate at 255 North Green Bay Road has found a buyer after price cuts, with its final asking price at $7.9 million. The 15,000-square-foot home, built in 1934, is the most expensive listing in Lake Forest. The property offers ample space with its 15,000 square feet and is located at 255 North Green Bay Road in Lake Forest. The estate features a charming historic design and is situated in a highly desirable location, contributing to its status as the most expensive listing in Lake Forest. The final asking price for the property is $7.9 million, making it an exclusive opportunity for potential buyers.

Summary of transaction details

  • Property Type: SFR
  • Transaction Amount: $7,990,000
  • Broker: Jennifer Ames - Engel & Voelkers
  • Market: Lake Forest

Jennifer Ames of Engel & Voelkers represented the seller in this transaction, showcasing her expertise in the Lake Forest market. With her assistance, the estate successfully found a buyer after undergoing price cuts. Jennifer's extensive knowledge of the area and her strong negotiation skills played a crucial role in securing a deal for this prestigious property. Both the buyer and the seller can benefit from Jennifer's professional guidance throughout the transaction process.

Players

Jennifer Ames
10 deals$49.3M volume
BROKER

Details

SOLD
IMAGE: CONTRACT IMAGE: Jennifer Ames DATE: 07/26/2023 ADDRESS: 255 North Green Bay Road MARKET: Lake Forest ASSET TYPE: SFR BROKER: Jennifer Ames (@AmesGroupChicago) - Engel & Voelkers (@EngelVolkersChicago) PRICE: $7,990,000 SF: 15,000 ~ PPSF: $533 NOTE: The historic Lake Forest estate at 255 North Green Bay Road has found a buyer after price cuts, with its final asking price at $7.9 million. The 15,000-square-foot home, built in 1934, is the most expensive listing in Lake Forest.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$426,133.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$28,386.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,876.68
Annual Debt Service$454,520.12