North ShoreLake Forest

Down-and-up pricing on a Lake Forest home

by Joe Zekas on 2/25/13

Lake Forest differs, in many ways, from the mental picture that many have of a long-settled bastion of North Shore mansions. Perhaps the greatest difference is that the majority of Lake Forest housing is of fairly recent vintage, built within the past 50 years, and quite a bit of it in large subdivisions west of Route 41.

Lake Forest hasn’t been immune from the price volatility that has roiled communities throughout the area in the past half-dozen years. The 6-bedroom home with 5 full and 4 half-baths at 1392 W Old Mill Rd, for example, was purchased in September of 2006 for $3,000,000. It was listed for sale at $3.295M in January of 2009 and eventually sold for $2,057,500 in April of 2010. The home has just come back on the market, priced at $2,595,000.

The pool and patio pictured above appear to be recent additions. They aren’t mentioned in an earlier listing, and aren’t visible in the aerial view of the home at Bing Maps.

Coldwell Banker’s Juli Hallas has the listing.

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{ 1 comment… read it below or add one }

Juli Hallas February 26, 2013 at 9:21 AM

Thanks Joe for your info on 1392 Old Mill in Lake Forest. You are correct on the recent additions to the home justifying the current price. The owners created a 4 Seasons resort in their backyard including an amazing pool/spa, 2 fireplaces, blue stone patio, and large gas grill. If anyone would like more information on this incredible private estate, please visit my website at http://www.1392oldmill.info.

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