A 1.59-acre single-family lakefront estate located at 501 Sheridan Road in Kenilworth has been sold for $6,800,000. The property spans 11,000 square feet, translating to a price per square foot of $618. Originally listed for $14 million, the estate had been on the market for four years before the sale.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $6,800,000
• Address: 501 Sheridan Road
• Market: Kenilworth
• Acres: 1.59
• Square Feet: 11,000
• Price Per Square Foot: $618
• Buyer’s Representative: Milena Birov Properties (AtProperties) Christie's International Real Estate
• Seller’s Representatives: Nancy Nugent & Ryan Preuett - Jameson Sotheby's International Realty

The buyers intend to tear down the existing structure to construct a new home. The property was sold by the Sklare family estate through Jameson Sotheby’s International Realty after a significant price reduction.