Winnetka mansion sells for $13 million, one of the highest home sales prices in the Chicago area this year

A seven-bedroom mansion on Lake Michigan in Winnetka sold Monday for $12.75 million, one of the highest sales prices for a Chicago-area home this year.

Located on Sheridan Road and on a 1.72-acre parcel, the mansion had been the long-time home of the late James Challenger, who founded the Challenger relocation firm, Gray & Christmas. Challenger died in 2019 at the age of 93 and his heirs were the sellers.

Built in 1905, the mansion had been listed for $16 million in mid-June and was leased in July. Features include the main house, which the Cook County Assessor measures at 5,362 square feet, a garage that is currently rented on a month-to-month basis, and a greenhouse, all of which are in need of repair or renovation, according to listing information.

The property has over 150 feet of lake frontage.

Public records don’t identify the buyers, so it’s not yet known if the new owners plan to keep the house on the property or tear it down and build something new. Listing agent Annie Challenger, who is Challenger’s daughter, did not immediately respond to a request for comment.

The mansion had a property tax bill of $133,005 in fiscal year 2020.

At least three homes in the Chicago area, but only one home, have sold for higher prices since early 2022. Billionaire Justin Ishbia, who has been trying to put together a big piece of land on Sheridan Road in Winnetka and previously spent near of $24 million. buy properties adjoining a lakefront park, reportedly paid $16 million in July for another home on Sheridan Road. Earlier this year, two Chicago condos sold for $20 million and $17.4 million.

Goldsborough is a freelance writer.

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