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.