Chenequa home on Pine Lake sells for $15 million, in record-high sale
A Chenequa home on Pine Lake in Waukesha County sold for $15 million on Oct. 31, the most expensive home sale in the Milwaukee metro market this year.
The seven-bedroom, 7.5-bath home features an infinity pool overlooking the lake and a separate guest wing. The final sale price totaled $16 million, including $1 million of personal property.
The sale is the latest example of Wisconsin's ultra-luxury home boom, said Bruce Gallagher of Gallagher Lake Country Real Estate with Keller Williams, who brokered the deal.
"The demand for these lake properties has just skyrocketed, triggered by the pandemic for sure," Gallagher said.
Since 2020, a total of 20 homes have sold in Lake Country for over $4 million, according to Gallagher's internal data. That's up from just four total sales in that price range between 2006 and 2019.
These luxury buyers range from 30-somethings with young families to retirees who want to host their kids and grandkids, Gallagher said. Although some buyers are flocking from Illinois, many are local to southeastern Wisconsin.
For most buyers, these lake homes are a second or third home, Gallagher said, not a primary residence. The homes often include high-end amenities such as home gyms, swimming pools or outdoor kitchens.
"These prices compete with Aspen or Malibu," Gallagher said.
More:In the competition for Milwaukee's neighborhoods, out-of-state landlords remain a concern
This article originally appeared on Milwaukee Journal Sentinel: A Chenequa home on Pine Lake in Waukesha County sold for $15 million
