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Lake Forest Walgreen Mansion Under Contract Following Foreclosure

Lake Forest mansion owned by the great-grandson of Walgreen Co. founder is now under contract eight months after a foreclosure suit.

The Lake Forest mansion owned by Charles R. Walgreen, great-grandson of Walgreen Co. founder Charles Rudolph Walgreen, is under contract eight months after a foreclosure suit was filed, Crain's Chicago Business reports. Records show that U.S. Bank filed foreclosure on the property in March, citing a "$1.7 million line of credit issued in 2006 by United Community Bank of Lisle," the article states. 

The Ridge Road home, which was listed with the agency Koenig and Strey Real Living, went under contract after it was relisted for around $1.4 million, the Crain's article said.. The 7,334-square-foot-home features five bedrooms, an orchard, pond and separate cottage. A closing date has not been submitted yet.  

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Steve Handwerker December 01, 2012 at 05:27 PM
Who is the great-grandson, besides being a Walgreen and heir to the estate? Where does he live? Does he work for the family business, etc., etc.?
Tea Bag December 02, 2012 at 12:18 AM
Based on Patches "breaking news" that an Ex Wife of one of Walgreen's long divorced grandchildren lost her house to foreclosure> stock in Walgreens Intl goes into a fatal dive. Thousands loose their jobs and CVS celebrates....
Tina Lambros Anagnos December 19, 2012 at 02:49 AM
It is a real sign of the hard times we live in when the very wealthiest are losing their assets.

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