Another Lake Geneva mansion has sold for nearly eight figures, adding to a hot streak for the ritzy second-home destination that’s long been a magnet for wealthy Chicagoaons.
A five-bedroom, 12,000-square-foot house on Folly Lane, dubbed Stoney Hollow, was snagged this week for $9.6 million, down from its initial asking price of $11 million when it hit the market in late August, Crain’s reported.
David Curry of Geneva Lakefront Realty represented the sellers, Nick and Kimberly Calamos, who bought the 3-acre gated estate for $7.2 million in 2017.
Lake Geneva’s ultra luxury market may have been a bit sluggish during the first half of the year, but it has started to heat up since the summer.
In June, former Horizon Therapeutics CEO Timothy P. Walbert and his wife Keli paid $13.5 million for a 8,756-square-foot mansion on Loramoor Drive. That was the first Lake Geneva deal to exceed the eight-figures threshold since October 2022, when a 12,280-square-foot home at W3415 Snake Road sold for $17 million.
More recently, a 10,000-square-foot mansion that was never listed publicly traded for $16.5 million, marking one the priciest deals ever in the area. And in May, the 12-acre Aloha Lodge was listed for $35 million, which is $1 million shy of the most expensive mansion sale on record in Lake Geneva.
The getaway in southern Wisconsin has brought in bigger luxury deals this year than suburban Chicago’s North Shore, where the priciest transaction this year so far is a $12.5 million Winnetka estate purchased by RxBar co-founder Jared Smith and his wife Gabriella.
The Folly Lane estate has 128 feet of Lake Geneva shoreline, a two-slip pier, boathouse and a guest house. Stoney Hollow, clad with a stone and timber Tudor exterior, also has a large great room, eight fireplaces, a newly added screened-in porch and heated driveway.
Seller Nick Calamos is a former executive at Calamos Investments, a $36 billion company founded by his uncle, John Calamos.
— Quinn Donoghue