Lake Geneva, Wisconsin, has once again made headlines with the record-setting sale of Aloha Lodge, a historic mansion that fetched $21.85 million. This sale marks the second-highest residential transaction in the town’s history and highlights Lake Geneva’s enduring appeal as a haven for luxury properties and affluent buyers.
Built in 1900 by renowned Chicago architect Howard Van Doren Shaw, Aloha Lodge sits on 12 sprawling acres at 768 South Lake Shore Drive. Originally commissioned by Tracy and Anna Drake, developers of Chicago’s iconic Drake and Blackstone Hotels, the mansion was named in honor of their friend, Queen Liliʻuokalani of Hawaii. The estate features 10 bedrooms, 13.5 bathrooms, a three-bedroom guest house, and an 1,800-square-foot building dedicated to a model railroad.
The property also boasts 368 feet of lake frontage, lush gardens, and a greenhouse, offering a blend of historical elegance and modern luxury. Aloha Lodge became a well-known landmark, recognizable by its two-story pillars and commanding presence visible from Lake Geneva’s boat tours. After changing hands multiple times, the estate was last owned by Harold Byron Smith, a prominent Chicagoan and former vice chairman of Illinois Tool Works.
Initially listed for $35 million in 2023, Aloha Lodge sold for $21.85 million, reflecting a significant 62% price reduction. Despite the cut, this sale remains the highest in Wisconsin since 2022 and reinforces Lake Geneva’s status as a luxury real estate hub. The transaction follows other notable sales in the area, such as a $12.7 million home at 906 South Lakeshore Drive and a $9.6 million property on Folly Lane.
The historic allure and unique features of Aloha Lodge, combined with its ties to Chicago’s elite, underscore the value that discerning buyers place on Lake Geneva properties. These sales also demonstrate the town’s resilience and prestige in the luxury market.
While Aloha Lodge represents the pinnacle of residential luxury, the sale highlights a broader trend: Lake Geneva’s growing reputation as a prime market for both residential and commercial real estate. Its strategic location—close to Chicago, Milwaukee, and Madison—makes it ideal for businesses seeking high-end office spaces or industrial developments that cater to executives and affluent clients.
Lake Geneva’s proximity to major metropolitan areas and its unique lifestyle amenities make it an attractive destination for businesses and investors. Whether developing industrial facilities, expanding corporate offices, or investing in high-end residential properties, the town offers unmatched opportunities for growth.
Navigating Lake Geneva’s dynamic real estate market requires expertise and local insight. A trusted commercial real estate agent in Lake Geneva can help investors and business owners identify opportunities that align with their goals. Additionally, commercial property management in Lake Geneva ensures properties are maintained to the highest standards, maximizing their value and appeal.
The sale of Aloha Lodge is a reminder of Lake Geneva’s unique position in the Midwest: a blend of historical elegance, luxury living, and strategic location. For those interested in exploring the potential of this thriving market, whether for residential or commercial purposes, partnering with a commercial real estate agent in Lake Geneva is the first step toward unlocking its full potential.
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