Updated Sep 5, 2024
Lake Geneva Mansion Sells For $14M In Off-Market Deal
Lake Geneva
$14,000,000
$1,609/SF
Building Size
8,700 SF
Asset Type
Single Family Residence
Closing
Jul 25, 2023
About this deal
AI
A Lake Geneva mansion located on Loramoor Drive has been recently sold for $14 million, making it the highest-priced home transaction in the Chicago area this year. This impressive property spans across 1.4 acres and features a spacious 8,700 square feet of living space. Situated in the sought-after Lake Geneva market, this single-family home offers luxurious amenities and stunning waterfront views.
Summary of transaction details:
- Property Type: Single Family Residence (SFR)
- Sale Price: $14,000,000
- Total Square Footage: 8,700 SF
- Price per Square Foot: $1,609
- Address: Loramoor Drive, Lake Geneva
- Market: Lake Geneva
- Acres: 1.4
In this off-market deal, buyers were willing to pay the full asking price, which is a rarity in the waterfront home market near Chicago's North Shore and downtown. The successful transaction was facilitated by David Curry, a representative from Geneva Lakefront Realty, who acted as the broker in this sale. This significant sale showcases the desirability and value of Lake Geneva's luxury real estate.
Lake Geneva Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $1.6K per square foot on a published $14M for 8,700 square feet (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93