Apparently, one of my roommates was in REI and overheard the phrase "Matterhorn of the Midwest" used in serious conversation. Subsequent googling of the phrase turns up Wilmot Mountain, the self-proclaimed Matterhorn of the Midwest, which is located on the Wisconsin-Illinois border. It has a mind-boggling vertical drop of 230'. For comparrison, the WI state capitol building is 50' taller.
In their defense, the actual Matterhorn may be rather taller, but it isn't lit for night skiing.