Lehmann Mansion paying dividends five years later
The 97-year-old Lehmann Mansion is celebrating its 5th birthday.
Saved from the wrecking ball, the palatial manor on Route 83 in Lake Villa was given a new lease on life in 2004. The village of Lake Villa purchased the estate, intent on saving a local landmark and generating cash for its coffers.
Now, as it approaches the five-year mark this spring, it appears the plan is working.
Built in 1912, the home was held in trust by the Lehmann family. Vacant and deteriorating, it was set for demolition.
Mayor Frank Loffredo headed an effort to keep the estate from being dismantled.
"Some people had the knee-jerk reaction to just tear it down," Loffredo said. "But we thought it was extremely important that it should be saved and kept as a historical centerpiece in Lake Villa."
Considered a financial risk by some, the village paid $2.5 million for the 22-room mansion and 66 acres.
The idea was to turn the home into a business where people could rent space for weddings, corporate events and other parties. The profits would go back into village accounts.
After a two-year, $800,000 rehabilitation project, the home opened for business in summer 2004.
Now, the mansion hosts nearly 50 events each year.
The village owes about $750,000 on the mortgage. The debt will be fully paid in about three years, officials say.
Once that bill is paid, money generated from mansion events could net the village $80,000 to $100,000 annually, Loffredo estimated.
The 13,500-square-foot home has 10 bedrooms and eight bathrooms. It was the first house in Lake County to have an elevator and featured an in-ground pool and a landscaped courtyard with fountains.
Rob Frank was the mansion's caretaker for nearly 20 years. A member of the Lake Villa Historical Society, Frank said the home is an eclectic mix of styles.
"The Lehmanns traveled extensively across the U.S. and Europe and you can see the variety of influences," Frank said. "The courtyard has a Spanish feel, the heavy wooden ceiling beams could be English, the arched windows French and the huge white pillars are colonial in appearance."
Frank said restoration contractors worked closely with the historical society and tried to maintain historic accuracy.
The Lehmann family has a long history in Lake Villa.
German immigrant E.J. Lehmann made a fortune with his Fair Store in downtown Chicago in the 1880s. Known as the "Merchant Prince of State Street," Lehmann came up with the idea of "broken nickel" pricing. Instead of marketing to the wealthy like Marshall Field did, Lehmann catered to the working class. His goods were priced accordingly, and the strategy worked.
Choosing Lake County as a retreat from the grimy city, the extended family built nine homes on 2,000 acres in the Lake Villa area.
"The Lehmanns were intent on building something grand in scale," Frank said. "But they still called the home their summer cottage."