Walgreen Great-Grandson
To Sell Chicago-Area Home

What: Eight bedrooms, five full bathrooms in 7,400 square feet on 4.75 acres

Where: Lake Forest, Ill., a Chicago suburb about 30 miles north

Amenities: Three fireplaces, one-room cottage house, three-car garage, a large pond, an attached garden room with slate floors, a fruit orchard

Asking Price: $6.45 million

Opening Bid*: $6.2 million

Listing Agents: Mona Hellinga, Baird & Warner Residential, 847-814-1855

Due Diligence: Charles Richard Walgreen, a great-grandson of the founder of the Walgreen drugstore chain, and his wife, Estelle, bought this two-story 1937 English Colonial home in the late 1990s. (The 47-year-old Mr. Walgreen left the family company in the 1990s and is now an entrepreneur.) The couple added an outdoor children's playground, expanded the pond, put in a sandy beach, remodeled the library and added a garden room with slate flooring and French doors that open to a lawn. For landscaping, they designed a walking prairie -- land with indigenous Midwest plants -- with wildflowers and a fruit orchard. Many of the rooms have hardwood floors, and the master bedroom is en suite with a large dressing room and a renovated bathroom with marble floors. Area brokers say the property's acreage is rare for a home in Lake Forest, an affluent Chicago suburb where heirs to the Wrigley and Marshall Field families own homes. Land values are about $1 million an acre in Lake Forest, brokers there say.

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