Boeing’s former CEO who oversaw the ill-fated 737 Max plane is reportedly selling his Chicago-area estate at a $3 million loss

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VHT Studios
  • Former Boeing CEO James McNerney has listed his Chicago-area mansion near Lake Michigan for nearly $4.7 million, according to reporting by Crain’s.
  • McNerney, who retired from Boeing in 2015, oversaw development of the now-troubled 737 Max, which has since been grounded worldwide after two deadly crashes, as well as the 787 Dreamliner.
  • He is asking for much less than he paid for on the nearly 8,000-square-foot mansion.
  • Visit Business Insider’s homepage for more stories.

Retired Boeing CEO James McNerney is selling his mansion.

McNerney and his wife listed their Lake Forest, Illinois mansion for $4.795 million, nearly $3 million less than they paid for the estate in 2006, according to Crain’s. They paid $7.6 million for the mansion in 2006, which is located near Lake Michigan.

McNerney served as CEO of Boeing from 2005 to his retirement in 2015, where he approved and oversaw the “frenetic” development of the 737 Max, according to the New York Times.

The plane, which has since been grounded worldwide, was involved in two crashes that killed 346 people. The issues with the model have since been traced back to a questionable development cycle that prioritized profit over safety, sound engineering, and adequate pilot training.

The 737 Max has been bad news for Boeing ever since. In 2019, the company reported an annual loss of $636 million, its first full-year loss in more than 20 years. McNeary also oversaw the development of the 787 Dreamliner in his tenure.

Now, McNerney is looking to rid himself of this nearly 8,000-square-foot mansion, even at a loss. The house located at 1291 Elm Tree Road is listed with Andra O’Neill at @Properties.

Take a look inside.


The mansion sits at the end of a long driveway.

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Lake Forest estate.
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VHT Studios

Large French doors open into the home.

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Lake Forest estate.
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VHT Studios

The house is marked by large rooms and ornate furniture.

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Lake Forest estate living room.
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VHT Studios

This living space has one of several fireplaces throughout the house.

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Lake Forest estate living room.
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VHT Studios

Powder blue walls and built-ins feel like they’re from another era.

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Lake Forest estate living room.
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VHT Studios

Even this powder room is ornately decorated.

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Lake Forest estate powder room.
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VHT Studios

The dining room, which has a chandelier and another fireplace, is empty now, but could clearly accommodate many guests for meals.

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Lake Forest estate dining room.
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VHT Studios

The kitchen appears to be the most modern room in the house, with a large island in the center.

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Lake Forest estate kitchen.
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VHT Studios

The island is also a seating area, with room for stools underneath.

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Lake Forest estate kitchen.
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VHT Studios

A butler’s pantry adjacent to the kitchen has extra storage too.

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Lake Forest estate kitchen.
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VHT Studios

Along with the dining room and island, the kitchen is large enough to fit another area for meals.

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Lake Forest estate kitchen.
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VHT Studios

The family room is a departure from other rooms, decorated in a more rustic cabin style.

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Lake Forest estate family room.
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VHT Studios

Wood floors and wooden beams on the ceiling add to the feeling.

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Lake Forest estate family room.
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VHT Studios

Even the mudroom is elaborate, with a luxe carpet.

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Lake Forest estate mud room.
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VHT Studios

The master bedroom on the second floor is one of five total in the house.

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Lake Forest estate bedroom.
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VHT Studios

The master has yet another fireplace, plus a chandelier and sitting area.

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Lake Forest estate bedroom.
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VHT Studios

The master bathroom has a double vanity, large cabinets, and a standalone tub.

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Lake Forest estate bathroom.
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VHT Studios

The other four bedrooms in the house are smaller but still impressive.

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Lake Forest estate bedroom.
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VHT Studios

Some feature window seats.

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Lake Forest estate bedroom.
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VHT Studios

Other bathrooms are also smaller, although still ornate, like this bathroom attached to the fourth bedroom.

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Lake Forest estate bathroom.
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VHT Studios

The house also has an office, which McNerney could have used while living there.

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Lake Forest estate office.
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VHT Studios

The house has a finished basement outfitted as another living space.

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Lake Forest estate basement.
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VHT Studios

Not skipping out on any luxuries, the home has a full bar…

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Lake Forest estate bar.
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VHT Studios

…and a wine cellar.

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Lake Forest estate wine cellar.
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VHT Studios

Even the home gym is upscale, sitting in a gazebo.

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Lake Forest exercise gazebo.
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VHT Studios

Out back, the house has a large pool…

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Lake Forest estate pool.
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VHT Studios

…plus a pool house.

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Lake Forest estate pool house.
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VHT Studios

If that wasn’t enough, the estate also has a guest house.

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Lake Forest estate guest house.
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VHT Studios

The smaller structure on the property is more modest but still spacious.

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Lake Forest estate guest house.
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VHT Studios

It has a bedroom, bathroom, kitchen, and living area.

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Lake Forest estate guest house.
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VHT Studios

The entire estate sits on about two acres.

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Lake Forest estate.
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VHT Studios

Some of the outdoor space consists of manicured gardens…

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Lake Forest estate.
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VHT Studios

…while the rest is covered in trails along the ravine, only a block away from Lake Michigan.

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Lake Forest estate hiking trails.
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VHT Studios

An aerial view shows the full estate.

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Lake Forest estate.
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VHT Studios