Billionaire Exec Buys Another Neighboring Lakefront Lot in Winnetka
Posted by Leo Clark. on
A billionaire private equity exec just purchased another lakefront lot in the Chicago area in a deal that could throw a wrench in plans for a public beach. The Winnetka Park District wants to create a 1,000-foot beach, but that’s contingent on property owner Justin Ishbia giving them a residential property he owns between two parks, in exchange for some of the parkland that sits closest to his own land.
Previously, Ishbia had requested some privacy between the public beach and the beach just below his home. Last spring some area residents opposed a deal to give Ishbia’s property that additional privacy.
Flashforward to this past June, and the exec paid $16 million for another acre of land and a 10,000 square foot home that sits next door to his existing…
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