Pabst Mansion Gets Hammered In Glencoe

Owned by the software entrepreneur Marc Ewing, creator of Red Hat Inc. and Linux distributor last week sold his 26 room Sheridan Road Pabst mansion in Glencoe for just three-quarters of the price that they had paid for the gated estate just nine years earlier. According to Deal Estate blog writer Denis Rodkin of Chicago Magazine, the 2.5 acre lakefront home sold for just $5.2 million and was listed for $7.95 million.

The mansion was built in 1936 and was intended for Pabst Blue Ribbon Brewing President Harris Perlstein. Its history also says that it was visited by the late President Franklin D. Roosevelt and Israeli Prime Minister David Ben Gurion.

According to Deal Estate, Ewing had the mansion on the market many times over the past half dozen years peaking at $14 million, in 2003.  The sale closed on October 26th with listing agent Sharon Friedman of Coldwell Banker; the buyers are not yet identified in public records.