Former Wrigley family estate in Lake Geneva sells for a record-setting $11.25M

The property had once asked $16.45 million

By Jay Koziarz Mar 23, 2018, 12:10pm CDT

A sprawling waterfront estate once belonging to the famous Wrigley family sold for $11.25 million. It sets a new record for single-family homes in the popular summer home destination of Lake Geneva as well as the entire state of Wisconsin.

The property’s original mansion dated back to the 1880s and first served as a hunting lodge for architect Henry Lord Gay. Chewing gum magnate and Cubs owner Philip K. Wrigley purchased the estate as a summerhouse in 1927. Known as Hillcroft, it was one of six waterfront properties owned by the affluent Chicago family.

The Wrigley’s eventually let go of Hillcroft in 1981 but only with a provision that its 20-acre grounds could not be subdivided. As a result, the property is one of the largest parcels on the Lake Geneva’s shores and sports a remarkable 415-foot water frontage.

Hillcroft’s historic main building was torn down and replaced with the current, 11,000-square-foot home in 1984. The five-bedroom, seven-and-a-half bathroom structure includes a vaulted living room, a four-season sunroom, and a lower-level recreation room. The estate’s original gate house and carriage house were retained.

The property sat on the market for nearly two years, initially listing for $16.45 million in June of 2016. It took a pair of $2 million price cuts down to an asking price of $12.5 million before finally closing on Wednesday for $11.25 million.

“With a premiere location on Snake Road, an unmatched lakefront, and an abundance of history, Hillcroft remains one of the most special properties on Lake Geneva,” said listing agent Jay Hicks of Keefe Real Estate in a statement.

The recent sale represents the year’s second notable transaction involving a former Wrigley-owned property. In January, the family’s famous 1896 Lincoln Park mansion sold out of foreclosure for $4.65 million.