Imagine owning a slice of paradise on the shores of Lake Geneva, where the gentle lapping of waves meets unparalleled luxury, and then selling it for a staggering $20 million.That’s exactly what happened when William and Lois McEssy, a prominent McDonald’s franchisee from Lake Forest, Illinois, and his wife, parted ways with their breathtaking waterfront estate in Wisconsin.
This Lake Geneva luxury waterfront home sale not only shattered expectations but also underscored the booming demand for high-end properties in the region. As one of the priciest transactions of 2025 so far, it highlights how affluent buyers from nearby Chicago suburbs are fueling a red-hot market for Wisconsin multi-million dollar home sales.
Details of the $20 Million Lake Geneva Estate Sale
William McEssy, a former attorney turned successful McDonald’s franchisee, and his wife Lois have deep roots in the business world and Lake Forest community. Starting in the early 1980s, McEssy built an empire, owning up to 46 franchises across Illinois and Wisconsin by the mid-2010s. Even after selling some in recent years, his legacy as one of the largest operators in the region endures. The couple, longtime residents of Lake Forest—an affluent Chicago suburb known for its stately homes—used their Lake Geneva property as a cherished retreat. Lois, alongside William, has been involved in philanthropic efforts, including establishing a professorship at Mundelein Seminary. Their decision to sell marks the end of an era for this power couple, whose McDonald’s franchisee Lake Forest real estate news has captivated local circles.
The estate hit the private market in early June 2025, drawing five offers almost immediately, a testament to pent-up demand. The McEssysplanning to demolish the home, prioritizing a match who would cherish it. Closing occurred less than three weeks later, likely a cash deal, as noted by buyer agent Jack Baker. Represented by Sal Dimiceli Sr. of Lake Geneva Area Realty for sellers and Baker of Coldwell Banker for buyers, the swift process highlights off-market efficiency in the $20 million Lake Geneva property transaction arena.
Inside the Luxury Waterfront Estate
Lake Frontage, Views, and Private Amenities
Nestled on the south shore of Geneva Lake at W3806 Lackey Lane, this 10,800 square foot estate boasts 500 feet of level lake frontage and panoramic views that evoke serenity. On a dead-end road for ultimate privacy, it includes private docks and lush grounds, no close neighbors in sight. Amenities like a pond and expansive outdoor spaces make it ideal for entertaining or quiet escapes, fueling the high demand for Lake Geneva luxury waterfront estate sales.
Architectural Style and Interior Design Unique Details and Standout Features
Inspired by a Lake Tahoe home from “The Godfather Part II,” the McEssys built this in the 1990s with a massive great room as the centerpiece—bigger and better than the film version. Architectural highlights include elegant brick exteriors and interiors blending classic charm with modern luxury. Standout features:
- A two-bedroom guest apartment for visitors.
- Lake-view rooms that seamlessly integrate indoor-outdoor living.
- Custom designs prioritizing comfort and grandeur.
Ever pictured hosting in a movie-inspired mansion? This closes that dream loop.
Property Size and Layout Square Footage, Number of Rooms, Outdoor Spaces
Spanning 10,800 square feet on five acres, the layout offers spacious living with multiple bedrooms, baths, and versatile rooms. Outdoor spaces shine with landscaped gardens and waterfront access, perfect for boating or relaxation. At about $1,852 per square foot, it’s a premium buy in Wisconsin multi-million dollar home sales.
Lake Geneva’s High-End Real Estate Market Trends
Recent Multi-Million Dollar Home Sales in Lake Geneva
Lake Geneva has seen a flurry of big-ticket deals:
- $36 million: Former Driehaus estate to J. Christopher Reyes (2022).
- $21.85 million: Aloha Lodge to James W. Owens Jr. (2024).
- $17 million: Villa Hortensia, later demolished (2022). These underscore a trend of teardowns and rebuilds amid scarcity.
Why Waterfront Properties Are in High Demand
Waterfront gems like this are coveted for their exclusivity—limited supply meets surging interest from wealthy buyers seeking second homes. Factors include:
- Breathtaking views and recreational perks like boating.
- Investment growth: Prices have risen post-pandemic, with boat slips quadrupling in value.
- Privacy and prestige in a resort-like setting. Rich folks are richer, amplifying demand for Wisconsin luxury lakefront homes.
Forecast for 2025 and Beyond
Looking ahead, Lake Genevapromises continued strength despite modest demand softening inventory remains tight, pushing prices up 3-4% annually. Experts predict more off-market deals and eco-focused luxury builds. Will teardowns dominate? The loop opens: Buyers should act now before scarcity intensifies.
The Lake Forest Connection
Lake Forest, Illinois, shares a symbiotic bond with Lake Geneva, just a short drive away. The McEssys exemplify this, using their estate as a weekend haven from Chicago’s hustle. Proximity to Chicago influences the market profoundly: Affluent Lake Forest residents, drawn by the 90-minute commute, view Lake Geneva as an extension of their lifestyle—think second homes for family getaways. This cross-state dynamic boosts demand, with many Chicago-area executives snapping up properties, as seen in recent sales to western suburb buyers. It’s no wonder Lake Forest McDonald’s franchisee real estate ties run deep here.
Conclusion & Market Insight
This $20 million Lake Geneva property transaction by the McEssys isn’t just a sale, it’s a milestone reflecting the enduring allure of waterfront luxury in Wisconsin. Closing the loop on high-end trends, it shows how low inventory and buyer fervor sustain premium prices, even amid broader market dips. For Midwest luxury real estate, it signals opportunity: Sellers can command top dollar, while buyers gain assets with strong appreciation. As 2025 unfolds, expect more record-breakers in this coveted enclave.Whether you’re inspired by the McEssys’ story or eyeing your own move, the market favors the prepared. Looking for more personal real estate advice in the area? Contact us https://legendaryrealestateservices.com/ to speak to someone today about your real estate worries or dreams.
About Chris DeVincentis
Expert real estate agent specializing in Lake Geneva and surrounding areas. Helping families find their dream homes with personalized service and local market expertise.
Contact Chris DeVincentis