Lake Geneva’s “Folly Lane” becomes the area’s highest-selling estate in over a year (for now)

A contemporary Lake Geneva real estate property with more than 10 acres, a swimming pool and private access to Geneva Lake sold for $20 million, making it the Wisconsin resort community’s highest home sale in more than a year, according toCrain’s Chicago Business.

Dennis and Carol Markos sold the Folly Lane property on Wednesday, Oct. 7, real estate records show. Per the Milwaukee Business Journal, the buyers were identified in records as Folly Woods LLC, an Illinois-based entity, though the people behind the company were not disclosed.

The private transaction covered three parcels totaling 10.73 acres in the town of Linn, including properties at N2280 and N2290 Folly Lane, the Milwaukee Business Journal confirmed. The deal was reached in March, according to Crain’s.

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A rare Lake Geneva sale

The property includes a 9,551-square-foot Geneva Lake mansion built in 2015, Crain’s reported. According to a Zillow listing cited by the Milwaukee Business Journal, the two-story home has five bedrooms, seven bathrooms, a finished walk-out basement, vaulted ceilings, a wet bar, walk-in closets, and wood flooring.

Outdoor features include an in-ground pool, deck, patio, garden shed, and an attached three-car garage. Per Crain’s, the wooded grounds also provide lake access, a pier and 222 feet of Geneva Lake frontage.

David Curry of Geneva Lakefront Realty represented the transaction, according to the publications and the property listing. Curry declined to comment to Crain’s and could not be reached by the Milwaukee Business Journal.

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Competition at the top of the market

According to Crain’s, only three Lake Geneva luxury real estate properties have sold for $20 million or more in the past five years. The previous sale at that level came in June 2025, when a Lake Forest couple sold a Lackey Lane home for $20 million, Crain’s noted.

The Folly Lane sale may not remain the area’s top deal for long. A separate Lake Geneva property called “Allegheny,” listed for $24 million in June, went under contract within three weeks, suggesting its eventual closing could exceed the Folly Lane price.

Per Walworth County tax records, the Markoses had owned the land since at least 2004, Crain’s reported. Because the sale was not publicly marketed, few photographs and details were available before the closing.