Lakeside Property

Highland Park Lakefront Landmark Offered As Is For $800000

HIGHLAND PARK, IL — A landmark lakefront Italianate mansion on a Highland Park bluff offered Tuesday for $800,000, a fraction of each its authentic itemizing worth and the sum of money it should price its new purchaser to restore it.

Inbuilt 1919, the E. Lichtstern home and coach home was the one residence on South Deere Park Drive when the road was first subdivided over a decade later, in accordance architectural useful resource surveys. Since being protected against demolition greater than three many years in the past, it has undergone a multi-million renovation, a foreclosures and harm for a number of years of deferred upkeep.

E. Lichtstern has been reported to be the son of Adolph Julius Lichtstern, who was listed as proudly owning the property throughout its 1926 subdivision and died two years later on the age of 66. The elder Lichtstern immigrated from Germany as a baby and labored as a paper boy change into a daring commodities dealer on the Chicago Board of Commerce who tried to nook the wheat market, in line with historic studies.

Architect Arthur Heun designed the Highland Park house within the Italian Renaissance Revival fashion with long-lost landscaping components created by Jens Jensen. The “lavish 22-room Italian palazzo was conceived of by Mr. Lichtstern in his travels in Italy,” in line with its landmark nomination type ready for the Highland Park Historic Fee within the 1980s.

“Heun specialised in designing massive, historic revival fashion estates alongside Chicago’s North Shore,” in line with the 2004 city-commissioned Architectural Assets in Highland Park survey. A decade earlier than the Highland Park house, Heun designed Mellody Farm for J. Ogden Armour. The 1,000-acre non-public property later change into Lake Forest Academy and a nature protect. Though he was thought of much less adventurous than a few of his colleagues in a bunch of early Prairie College architects referred to as the “the Eighteen,” Heun’s work confirmed an fascinating mixing of classical kinds and the options of the rising faculty of structure across the flip of the 20th century, in line with the survey.

“The home, though not a pure instance of the fashion, is spectacular,” it mentioned of the Lichtstern house. “The 2-story stone residence options an irregular plan, which isn’t normally seen on Italian Renaissance Revival homes, and a low-pitched, multi-gable roof lined with ceramic tiles. A round drive results in an arcade that extends out from the physique of the home and results in the doorway, and a sequence of projecting bays break up the façade. A number of of the multilight casement home windows that punctuate the elevations are topped with segmental arches.”

An undated historic itemizing from when the property spanned 5 acres described the house as “simply one of the distinctive in the whole Chicago space.” It famous the Travatine marble hallway and staircase with Romanesque vaulting, hand-carved walnut within the library, inlaid marble flooring and extra. “The inside heightens the primary impression of gracious hospitality,” it mentioned.

The principle home at present sits on a 2.Four-acre lot. The 14,200-square-foot mansion encompasses a ballroom on the third flooring, a music room, seven bedrooms and an elevator. The house additionally has a recently-repaired pool, in line with its most up-to-date itemizing, and members of the South Deere Park Owners Affiliation have shared entry to the seashore under.

Realtor Aaron Fenton represented the latest sellers of the home, who bought out of foreclosures lower than three years in the past. He mentioned a variety of potential consumers would have been considering buying the property for the land worth and tearing it down if the Lichtstern home was not supplied with historic landmark standing.

“It truly is unbelievable, what went into it to construct it initially again when it was constructed and I hope that the brand new purchaser is ready to restore a few of that character and class that that home has,” Fenton mentioned.

Contractors have estimated the home will want upwards of $three million in repairs, which embrace changing to the leaking authentic roof, home windows, plumbing, repairing harm water harm and a big stone terrace within the rear of the home, amongst different issues. The home was offered “as-is.”

(Realtor.com)

The earlier proprietor’s analysis indicated the house served as a romantic retreat between the youthful Lichtstern and famed opera singer Mary Backyard, who would carry out close by at Ravinia, in line with Crain’s Chicago Enterprise, which first reported its newest sale. Initially, the house solely had two bedrooms, earlier than subsequent homeowners reworked the inside, in line with a Chicago Tribune report that interviewed three sisters about rising up in the home within the 1960s.

(Realtor.com)

In 1991, Mike and Robin Nasatir bought the property for $2 million and launched into a decade-long renovation costing greater than $Four million on the property. Work included repairing erosion to the bluff that left the house perched above a vertical drop, they advised Chicago Journal in 2009 after providing it on the market at $7.75 million and for hire at $35,000 a month. However the home by no means offered, and Financial institution of America foreclosed on it and took over its title in 2015, Crain’s reported.

(Realtor.com)

Property information present the house was bought from Financial institution of America for practically $1.2 million in March 2017, with Alex Miller listed as the brand new proprietor. However possession was transferred Vasyl and Olga Miroshnichenko through a quitclaim deed in December of that yr. The Miroshnichenkos additionally had a previous possession curiosity the home in line with a property switch historical past. The house most just lately returned to the market in August 2018 asking for$2.2 million earlier than coming off the market in February and shutting for $800,000. The brand new homeowners are usually not recognized in public information.

Earlier: Roaring 20s Love Nest In Highland Park Returns To Market

The principle E. Lichstern home turned a nationally registered landmark in 1982 and was listed by the town in 1987. It has additionally been included within the Illinois Historic Constructions Survey, in line with Highland Park metropolis paperwork. The neighboring coach home at 103 S. Deere Park Drive on a subdivided zero.6-acre lot was named an area landmark in 2007.

Final yr, the house’s annual tax invoice was roughly $30,000 after its assessed worth fell from $Four.9 million to $2.2 million in 2017, in line with the Lake County Assessor’s Workplace. It was not instantly clear if the house has is eligible for a state historic property tax freeze, which might be out there for these spending greater than 1 / 4 of a house’s honest market worth on rehabbing owner-occupied landmarked houses.

Itemizing info initially appeared on Realtor.com, the place extra info and photographs can be found..

For Sale: $975,000
6 bd/6 full ba, eight,425 sqft



<div>1973 Keats Ct</div>
<div>Highland Park, Illinois 60035</div>
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