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Ventas CEO Debra Cafaro pays $4 million for lakefront house in Kenilworth

Debra Cafaro, CEO and chairman of Chicago-based health care real estate investment trust Ventas, and her husband, Terrance Livingston, on March 15 paid $4 million for a seven-bedroom, 5,000-square-foot Prairie-style house on Lake Michigan in Kenilworth.

Designed by architect George Maher, the house has been on and off the market since 2010, when it was listed for $6.5 million. It later was reduced to $4.45 million and then was taken off the market. It later was relisted for $5.75 million, $5.25 million and $4.995 million before going under contract in November.

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Built in 1915, the house has four full baths, three fireplaces, a renovated kitchen and a large lot with a private beach.

Cafaro did not immediately respond to a request for comment, and the agent who represented her in the purchase, Sue Hertzberg, also did not respond to a request for comment. However, the house's listing agent, Peter Cummins of @properties, said Cafaro plans to undertake a major renovation of the house, which had been owned by the same family for decades.

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"My understanding is that it will be completely renovated and restored, and it will be magnificent," Cummins said. "In many respects, (Cafaro's) doing a community service."

Bob Goldsborough is a freelance reporter.

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