A developer has purchased the Lake Forest, Illinois, estate that reportedly inspired F. Scott Fitzgerald to write "The Great Gatsby " and is planning to turn it into a community of homes.
William Ryan Homes of Glenview, Illinois, purchased the 47-acre estate for $9 million a little over a week ago, with plans to find a buyer for the original house who will restore it, add 34 additional homes, and to renovate two of the outbuildings on the property.
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The property, Kingdom Come Farm in Lake Forest, Illinois, was the home of Ginevra King, according to the developer. King a wealthy socialite, who according to The Huffington Post, had an intense relationship with F. Scott Fitzgerald that began in 1915. But the relationship ended in 1917, and King married a wealthy Chicago man. King is said to be the model for "Gatsby" character Daisy Buchanan, as well as inspiring the author to write about wealth in the way he did.
The goal for the new development, said Brenna Ryan, the marketing manager for William Ryan homes, is to re-create the " luxurious Lake Forest lifestyle" enjoyed by the King family.
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While, according to Ms. Ryan, the main house has lost some of its historical charm after a fire in the 1970s, the outbuildings in particular are of historical significance. Both were designed by prominent Chicago-area architects and are undergoing historical renovation. The servants’ quarters, designed by David Adler, is set to function as a community gathering house for residents, while the stables, originally built by Howard Van Doren Shaw, will become an entry space for the estate.
The company was set to buy the property year ago, from the family that’s owned it since the 1950s according to Crain’s Chicago Business, but plans stalled, something that Ms. Ryan attributes to the real estate market. After listing just the main house for sale in 2007 for $4.9 million , the entire property was listed in 2013 for $16.5 million, Crain’s reported.
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Now the new development, which will be called Westleigh Farm, taking its name from what the estate was originally called and the road it is on, will break ground in June, with plans to start building in the fall. The new homes will all be single story, and according to Ms. Ryan, "will reflect the original spirit of Lake Forest, a getaway summer estate, with each property backing into ponds, gardens and walking paths for the residents."
Sales for luxury homes on the site will be launched at the end of the summer or early fall.
"It is a unique opportunity to offer a product and lifestyle that isn’t out there in Lake Forest, while sticking to the spirit of history," Ms. Ryan said.