Home News Justin Ishbia, billionaire in Winnetka beach wall spat, buys mansion next door

Justin Ishbia, billionaire in Winnetka beach wall spat, buys mansion next door

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June, Ishbia and Winnetka Park District, Head of Shore Capital Partners in Chicago Both withdrew the permit application This allows the park district to create a 1,000-foot beach. The plan depends on Ishvia, giving Winnetka a home owned between the two parks in exchange for a park district, giving Winnetka some of the parks closest to his land.

The exchange depends on the details of Ishvia’s request for the separation of privacy between the beach under his house and the public beach.

A revised plan document submitted by Ishvia to the Park District this morning reveals that he paid $ 16 million to his other house on July 8. On just over an acre of land, there is a 10,000-square-foot home that was sold to Ishvia by the couple Leo and Milena Birov behind the Heritage Luxury Homes that built the home in 2013.

Ishbia has confirmed the purchase to Crain’s.

“We will continue to build houses,” Ishbia said. “Currently there are three adjacent lots.”

That is, Ishvia currently owns four lakeside plots, three in a row and a fourth separated by a park.

If the park district cancels the exchange of land, Ishvia said it will not resell the parcel between the two parks. “I have relatives who are happy to live in each season,” Ishbia said of the 261 Sheridan Road property that he bought for $ 6.2 million in November 2020. This is the only property between Elder Lane and Centennial Park in Winnetka.

After buying two adjacent Sheridan Road condominiums for $ 8.2 million and $ 9.5 million in 2020, Ishbia has already arranged a land exchange with the park district and bought a huge 261 Sheridan for $ 6.2 million. .. He handed over 0.56 acres of land to the park district, which then cut out 0.71 acres from the south side of Centennial Park and transferred it to him.

This spring Winnetka residents have expressed opposition On the proposed beach development side of the park district designed to create a privacy screen for Ishvia’s property.

Ishvia stipulated in the agreement and reiterated today, “For the privacy and security of my family, I want something that says this is the end of a public beach.”

“No matter what the park district decides, we can move on,” said Ishvia, with a new addition on the other side of his land. He refused to provide square feet and other details about the proposed mansion.

Ishvia’s recent purchases are the third-highest-priced home sales so far in the Chicago region, below two downtown condo sales. $ 20 million When $ 17.4 million.

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