The 1880s classic Lalor House, Richmond set for listing

One of Melbourne's most iconic trophy homes, Lalor House has been listed with $5 million plus.

The house was built in 1888 for Joseph Lalor, the doctor son of Eureka Stockade rebellion leader and politician Peter Lalor, who died in the house a year later.

The property is on the market for the first time in 50 years.

Designed by American architect William George Woolf, 293 Church Street has a classical Italiante facade and Jellis Craig Richmond agent Andrew Macmillan thinks it could be a private hotel, office or art gallery.

Set on 1135 sqm, the five bedroom brick mansion has been home of the Morton's and was used as a medical practice up until 1973.

Expressions of interest close March 22.

Jellis Craig Richmond says it should set a new price benchmark for the suburb. 

The current record of $5.13 million is held by Araluen, a five-bedroom 1856 mansion at 207 Lennox Street, which sold in 2015.