A 1920s mansion asking $6.95 million is the priciest listing in Winnetka, Ill.

The seven-bedroom house spans about 9,700 square feet, according to listing agent Glo Rolighed of @properties.

The seller is William Galvin, 35, a Winnetka native and the son of former Mortola chairman and CEO Christopher Galvin. The younger Mr. Galvin purchased the property, which spans more than 2 acres near his parents’ home, for $4.9 million in January 2017. 

William Galvin said he and his wife, Steffi Galvin, 35, spent about $2.1 million renovating the house with help from his mother, interior designer Cindy Bardes Galvin of Bardes Interiors.

“It was a very formal old house built in the 1920s,” said William Galvin, founder of the public equities investing company Aldabra Partners. “We had to dress parts of it down in some ways to make it more warm, friendly and livable.”

The home has a great room with original custom wood paneling, and a glass conservatory overlooking a walled garden, according to Ms. Rolighed. The dining room is silver-leafed and hand-painted with flora and fauna by local artist David A. Ryan. There is also an elevator, several fireplaces and a gym with views of a pond, said Ms. Rolighed. The primary bedroom suite has double walk-in closets, a sitting room and a bathroom with a deep soaking tub overlooking the pond. The kitchen island has leathered dolomite countertops. 

The property has an in-ground pool, a four-car heated garage and professionally landscaped gardens with fountains.

William Galvin said his parents still own property in Winnetka, but now live primarily in Florida, so he and his wife moved to her hometown of Charleston, S.C., to spend more time with her parents. They have two children, ages two and 4, he said.

Motorola, a Chicago-based telecommunications company, was founded by William Galvin’s great-grandfather Paul Gavin, in 1928.

Winnetka is an affluent suburb of Chicago. In 2021, Winnetka and surrounding lake communities had $86.33 million in transactions over $5 million, a 46% increase from 2020, according to @properties. 

“We haven’t seen this much activity on the North Shore since before the market collapse of ‘08,” said Ms. Rolighed, who cited the Covid pandemic as a leading reason for more interest in the suburbs.