Georgian-Style Grace in Glencoe: Pabst Mansion Back on the Market

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Just north of the Chicago city limits, along the North Shore of Lake Michigan, are a slew of historic mansions, with the glittering shoreline practically in their backyards.

One of the most historic is this Georgian-style mansion in Glencoe, built in 1936 for former Pabst Brewing Co. President Harris Perlstein and designed by legendary architect William Pereira.

The eight-bedroom, 12-bathroom house -- spanning 14,364 square feet and sitting on 2 acres -- was listed last year for $6.3 million before dropping to the current price of $5.25 million.

Although Pabst was founded in Milwaukee, quite a few Pabst mansions have been on the market in recent years, including this 18,000-square-foot estate in Oconomowoc, WI, last year.

"It's always been referred to as the Pabst Mansion," says listing agent Wendy Friedlich of At Properties, who grew up in Glencoe. Since its construction, it's had six different owners. "It's in a great location, very close to Lake Michigan and the town of Glencoe."

Whoever buys the home will have peace of mind as the mansion's historical character has been retained even while modern improvements were made. Each of the home's last three owners embarked on a different set of renovations. "They've saved a lot of the old, like the lighting fixtures and the staircase railings," says Friedlich, adding that the home's library features original walnut paneling and built-ins.

The work includes redoing nine bathrooms and three bedrooms; converting the third-floor ballroom into an exercise studio, game room, gift-wrapping area, and sewing nook; and updating the pool.

"The pool is humongous, and it has a slide," says Friedlich. "It's like a resort." There are men's and women's changing rooms poolside.

An original Pabst Blue Ribbon bar and a barber shop are still on the lower level. There's also a high-definition theater on the lower level and a security system with cameras throughout.

Who will the next owner be? "It could be a sports figure who wants privacy. When everything is in bloom, you can barely see (the home)," says Friedlich. "Or somebody who loves to entertain and have a resort-type lifestyle. You could have a few hundred people over." Did we mention the chef's kitchen, which is perfect for a catering team to whip up yummy hors d'oeuvres?