Jennifer Pritzker’s Stone Terrace bed and breakfast on the Evanston Lakefront has new owners.
Broker Mary Summerville, of Summerville Partners at Coldwell Banker, who’s representing the buyers in the transaction, says closing on the property at 1622 Forest Place took place Tuesday afternoon.
Summerville says the buyers, who she declined to name, are paying $3.6 million for the property including furnishings and plan to use it as their private home.
The six-bedroom, 12,429-square-foot home with nine fireplaces, located on just over a half acre of land, has been listed with Compass real estate, with a listing price of $4.2 million.
Pritzker, an heir to the Hyatt hotel fortune, purchased the property in 2012 for $2.8 million and invested substantial funds in restoring it for use as a B&B.
Stone Terrace was Pritzker’s second bed and breakfast establishment in Evanston and, as with the Stone Porch B&B at 300 Church St. it drew substantial opposition from neighbors.
But the Stone Terrace plans were approved by the City Council on a 7-2 vote in June 2013.
Stone Terrace opened in January 2016, but as early as May 2018 Pritzker decided to exit the bed-and-breakfast market and Stone Terrace was one of several properties she had listed for sale by April 2019.