Sale of $17.5M Glencoe estate built for Pabst Brewing president sets 2026 Chicago record

The city’s real estate market just hit a new high-water mark for the year as an elegant Glencoe mansion closed on Friday, July 24, for $17.5M, the highest in the Chicago area for 2026, according to Crain's Chicago Business.

The abode, designed by famous Illinois architect William Pereira, was built for the longtime president and chairman of the Pabst Brewing Company, Harris Perlstein, in 1936, the report confirmed. The property evokes the traditional “Georgian” style of architecture, an approach popularized during King George's reign in England and emphasizes symmetrical, balanced appearances.

Located on Sheridan Road just a few short blocks from the lake and a public access beach, the massive nine-bedroom, nineteen-bathroom estate just completed a full-gut three-year renovation, which oversaw a modernized floor plan and the addition of top-of-the-line contemporary appliances and finishes, according to Christie's International Real Estate.

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The 20,000 sqft. home sits on 2.4 acres of prime North Shore land and comes complete with all the refinement and amenities one would expect from a home at such a luxury price point. Features include expansive terraces and patios, a motor court driveway, a 14-seat theatre room, an outdoor pool and hot tub, an indoor sauna and even a tennis court.

The space also includes a separate guest house, garage parking for up to seven cars, multiple wet bars and an outdoor firepit lounge, making the home perfect for hosting large gatherings.

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According to Zillow, the estate was last sold back in 2017 for $3.6M before being relisted for sale in early 2025 at an original asking price of $12M. The listing and transaction were led by Grace Sergio and Phyllis Bisceglie of the Sergio & Banks Real Estate Group.

The sale surpasses other previous 2026 top home prices, including a sprawling Lake Bluff mansion that went for $10.5M back in June and a St. Regis Tower condo acquired for $7.8M earlier this month.

Pabst Brewing Company was founded in Milwaukee in 1844 originally under the name Empire Brewing. The organization was eventually retitled in the mid 1870’s after its second owner, Frederick Pabst, who would go on to lead the company for over 30 years. The Glencoe home is not to be confused with the Pabst Mansion in Milwaukee, Pabst’s Flemish Renaissance-style estate that has since become a popular museum tourist attraction in the Wisconsin capital   

As reported by the Chicago Tribune, Perlstein became president of Pabst Brewing in 1932, a year before prohibition ended, and would go on to significantly expand the company's operations, including being one of the originators of the beer can concept.

The Glencoe abode was one of Pereira’s earliest projects. The architect would eventually go on to have an acclaimed career, including designing San Francisco's Transamerica Pyramid building and a successful stint in Hollywood as an art director, for which he won an Academy Award in 1942.