A vacant, 26.7-acre parcel on Lake Michigan in Lake Bluff sold Wednesday for $3 million — nearly $6 million less than its owners originally asked for it.
The property at 925 N. Sheridan Road used to hold a noted midcentury modern house designed by the Keck & Keck architectural firm. The house was demolished about five years ago.
The estate of Edward McCormick Blair, who died in 2010 at age 95, sold the property. Blair was a scion of two well-known names in Chicago business history: Chicago inventor Cyrus McCormick and investment bank founder William Blair.
The 26.7-acre property is part of Crab Tree Farm, and the house was built in 1955. The box-like mansion, built by Carroll Construction, won a Chicago architectural award in 1958.
The Keck brothers used radiant heat, cross-ventilation and large expanses of glass to warm the interior, which had features including a double-height living room and a steel staircase. And although the Village of Lake Bluff declared the home a landmark in 2015, the designation was not strong enough to prevent the home’s demolition.
In 2011, the property was listed for close to $10 million with the house on it. Then, in December 2016, the estate was listed for $8.95 million. It underwent a $3 million price cut over the next two years, to $5.95 million. Further price reductions followed, to $3.25 million in October.
The estate has 664 feet of Lake Michigan frontage plus a ravine. About 16 of the 26.7 acres are conserved and cannot be built upon or subdivided.
Listing agent Ann Lyon did not respond to a request for comment. Public records do not yet identify the buyer.
Bob Goldsborough is a freelance writer.
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