November Luxury Chicago Home Sales Slowed Slightly

While luxury Chicago condo sales saw a strong November, single-family homes seemed to experience the seasonal slowdown we often see this time of year. But that doesn’t mean there weren’t some noteworthy sales: The highest-price property traded for $4.2 million, and the top five sales were all around $2 million or higher.

The top five most expensive homes that sold each have their own list of unique and special features, from square footage, to location, lot size, or other features. This is the key in luxury real estate today. Upscale properties must have a healthy number of factors that differentiate it from what else is on the market to attract luxury buyers—and this month’s homes certainly did that.
Total luxury homes sales in Chicago totaled $56 million for November. Let’s take a closer look at the details and characteristics that set these apart with a recap of the top homes sold in descending order.

456-w-huron456 W Huron St
Original list price: $4.6 million
Sold price: $4.2 million
November’s most expensive single-family home sale also offered the most square footage: a whopping 10,000 across 6 bedrooms and 4.3 baths. Located on a quiet, tree-lined street in River North, this stunning home showcases quality construction and immaculate attention to detail. The space in an entertainer’s dream, equipped with a 750-bottle wine cellar, recreation room with full bar, elevator, custom staircase and 3-car attached garage. In addition to the generous interior, there are also three enormous outdoor spaces. The River North location offers easy access to the highway and is a short walk to shops, dining and all of the neighborhood’s offerings.

457-W-Deming-Pl457 W Deming Pl
Original list price: $3.795 million
Sold price: $3.625 million
This extra-wide, custom single-family home spared no expense through a long list of upgrades, including a first-floor marble foyer, elevator, high ceilings, an attached two-car heated garage, and hardwood floors throughout. The sunlit building boasts three levels, including a second-floor maginircenty living room with custom built-ins and wood-burning fireplace, plus a deluxe gourmet, eat-in kitchen. The top floor master suite includes an office/sitting room, massive walk-in closet with island, Calcutta master bath and oversized separate steam shower. Outdoors, you’ll find three private spaces with a one-of-a-kind, 900-square foot private side deck. And the new owners can enjoy all of the luxury amenities at the coveted 2550 Lakeview building.

214-W-Erie-St214 W Erie St
Original list price: $3.25 million
Sold price: $2.69 million
This is an ultra-unique property in River North—the distinct and recognizable Flair House, an 1883 masterpiece that formerly served as the office of Flair Communications. With 7,000 square feet, this home was ready to be created into a home or office across its 7,000 square feet.

3738-N-Lakewood-Ave3738 N Lakewood Ave
Original list price: $2.395 million
Sold price: $2.25 million
Located in the Southport Corridor (and in the coveted Blaine school distict!), this custom Greystone spans 5,360 square feet, with 5 bedrooms and 5.2 baths. Features include a commercial-grade, eat-in chef’s kitchen with luxury appliances, Amish custom cabinetry, oversized quartzite tile, a walk-in pantry, Butler’s pantry with full-size SubZero wine fridge. The expansive floorplan includes a sun-drenched family room with fireplace and coffered ceilings, while an incredible master suite boasts his-and-hers walk-in closets, gas fireplace, wet bar, marble spa bath, radiant heat and separate steam shower. Outdoors, there is a new limestone porch and walk-out balcony as well as a rooftop deck.

315-Wisconsin-St315 W Wisconsin St
Original list price: $2.05 million
Sold price: $1.925 million
A historic row home in the heart of Old Town, this 3 bedroom, 3.1. bath home is in an ideal location: steps from Lincoln Park and Green City market, buses to downtown, restaurants and shopping, plus within the Lincoln Elementary and Lincoln Park High School district. The home has a classic Chicago façade that has been completely rebuilt on the 4,500 square foot interior. You’ll find four levels of bright, luxurious living and entertaining space with tall ceilings and an unusually wide floorplan. A full-floor master suite includes a club-style family room with projection TV, paneled study, attractive millwork and built-ins. Four private outdoor areas include a roof deck with skyline views.

It will be in interesting to see how the end of the year shakes out for Chicago luxury sales and what trends will develop in early 2018. It’s clear that the differentiation factor is huge for the luxury buyer, and many Chicago properties are delivering on that need.

For more of November’s Chicago luxury sales or to talk about buying in 2018, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Ultra-Luxury Chicago Condos Sell Well in November

When we checked in on Chicago condo sales at the close of September, the final quarter of 2017 was looking a bit unpredictable. The month saw relatively soft sales of high-end properties, but sales seemed to resume in October— and not move into the typical winter/holiday slump that November and December usually bring.

But, November proved to be a strong month as well for luxury Chicago condos. Total sales for the month topped $79 million, and nine of the properties sold were over the $2 million mark.

We also saw two continued trends among the month’s top condo sales. As usual, every condo sold in this category boasted generous square footage—the largest one being a 6,100 square foot gem that sold for cash. And, cash remains king for purchasing luxury real estate in Chicago, as buyers who can do so can usually get a considerable amount of money off the listing price.

With that, here’s a more detailed look at the top five most expensive Chicago condos to sell in November, in descending order:

189ELakeShoreDr189 E Lake Shore Dr, Unit 10
Original list price: $5.2 million
Sold price: $4.3 million
The month’s most expensive sale was also the most expansive—a whopping 6,100 square feet. A rare opportunity on East Lake Shore Drive, this 5 bedroom/4.1 bath condo is a full-floor unit with an amazien layout that includes an open living room, den and office with stunning views of Oak Street Beach and Chicago’s stunning lakefront. A large, private south-facing terrace brings in plenty of sun and breath-taking views come from all bedrooms. Other features include a deluxe, eat-in kitchen with attached breakfast area, separate family room, and 3-car indoor garage parking. This premier, full-service building includes a 24-hour doorman, exercise room and more.

77-e-walton77 E Walton St, Unit 27F
Original list price: $3.4 million
Sold price: $3.2725 million
This 3 bedroom/3.1 bath property is a stunning Gold Coast condo in the Residences at 900. It’s 3,486 square feet have been meticulously remodeled with thoughtful room design and the finest finishes. The unbelievable master suite includes a 13-by-12-foot organized closet, a master bath with heated floors, custom lighting and vanities, handcrafted tub and an oversized shower. The state-of-the-art home automation system controls sound, lighting, climate and windows. Building amenities include a 10th floor roof garden, private, on-site concierge, 24-hour door person, valet parking and bike storage. Residents here have access to the Four Seasons hotel amenities, like room service, spa treatments, exercise facility and more.

1340 N State Pkwy, Unit 1S1340 N State Parkway, Unit 3S
Original list price: $3.25 million
Sold price: $3.25 million
A recent renovation made this half-floor Playboy Chicago condo a turnkey home, with 4,300 square feet and 4 bedrooms/4.1 baths. The unit boasts a large private terrace, plus sun-filled rooms from 23 huge windows in all directions. The building itself has just seven residences in the Gold Coast, on a quiet, tree-lined street that is within walking distance to Lake Michigan, Lincoln Park and the Magnificent Mile. Other rooms include a living room, separate dining room, informal family room, eat-it kitchen, separate home office and an attached two-car garage.

50echestnut50 E Chestnut St, Unit 501
Original list price: $3.295 million
Sold price: $3.175 million
Located in a premiere deluxe building one block off of Michigan Avenue, this one-of-a-kind home spans 3,904 square feet on the building’s 5th floor. Inside, you’ll find a stunning interior with designer finishes throughout; outside is a huge wrap-around terrace with space for a dog run, putting area and alfresco dining, plus additional outdoor space. There’s also a deluxe eat-it kitchen with Wolf, Sub-Zero and other high-end appliances. Plus, this property’s Gold Coast location is ideal for walking to shops, dining, the beach and much more.

180 E Pearson180 E Pearson St, Unit 3805
Original list price: $3.425 million
Sold price: $3 million
This 3 bedroom/4 bath unit in one of Chicago’s top luxury buildings boasts 3,400 square feet on the 28th floor. The unit has been completely renovated, designed and decorated by a world-class designer to include luxury materials and finishes and meticulous attention to detail. Features include wide-plank black walnut flooring, sweeping views of the lake and city and a well thought-out floorplan that includes custom cabinetry, millwork and window treatments. The kitchen and baths have the finest fixtures and finishes, while the master suite hosts a separate sitting room/office/bedroom chamber with his-and-her baths and abundant storage. Residents here can also enjoy the superb service and discounted amenities of the Ritz-Carlton Club and Spa.

While this is just a snippet of last month’s sales, t’s a great idea for prospective buyers to take a look at what Chicago condos have recently sold, and see how sale prices line up with the location, space, features and amenities on their own wish list. Particularly for luxury condos, it’s a good idea to understand some of the most coveted features of upscale homes and what those features mean for a sale price. Doing this research will help you understand what you might find when you’re ready to hit the market as a buyer yourself.

For more information on the Chicago luxury condos that sold last month or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Chicago Luxury Homes Sales Held Up in October with 8 Homes Sold for More Than $2 Million

Chicago luxury home sales seemed to perk up in October, especially when compared to the soft September that preceded it. October saw $58 million in total sales of luxury single-family homes, ranging from $1 million up to $7.5 million. Eight of the 33 luxury homes sold were over a $2 million price point.

Here’s a closer look at the top five single-family homes that sold in October:

52 E Bellevue Place52 E Bellevue Place
Original list price: $7.999 million
Sold price: $7.5 million
It’s easy to see why this was the most expensive single-family home to sell last month. An oversized lot of 26 feet by 129 feet enables 10,000 square feet of interior space in this amazing, one-of-a-kind, custom-built home in the Gold Coast. The façade of this 1885 home was carefully restored with a full renovation of the interior. The home boasts all ensuite bedrooms, a true master suite with spa-like baths, smarthome automation system, elevator, custom wine cellar, sauna, gym room, three laundry rooms, separate heating system for all levels, radiant heat throughout provided by solar panels, a media room with 120-inch screen and projector. There is also a 3-car heated garage, which is virtually unheard of in Chicago, let alone in the Gold Coast. Outdoors, you’ll find five decks, a firepit and two grilling stations for making the most of Chicago summers.

321 W Menomonee St321 W Menomonee St
Original list price: $3.45 million
Sold price: $2.8 million
The extra-wide lot allows for more than 6,600 square feet of living space inside this exquisite two-story residence in East Lincoln Park. With five bedrooms, 5.2 baths, the home opens up into a grand atrium with curved staircase, a gracious living space and a thoughtfully designed floor plan. Other grand spaces include a formal living and dining room with direct patio access, a wood-paneled library, an eat-in kitchen, a gracious master suite and a family room. The kitchen includes a breakfast bar and table space with top-of-the-line appliances, copious storage and a large island. The second-floor master suite overlooks the backyard from a private balcony and features a wood-burning fireplace, two walk-in closets, luxe master bath with onyx counters, oversized dual shower, separate whirlpool tub and dual vanity. Skylights and large windows in every room flood the home with natural light.

1801 N Hermitage Ave1801 N Hermitage Ave
Original list price: $2.735 million
Sold price: $2.375 million
Located in Bucktown on an extra-wide corner lot, this home is absolutely flooded with sunlight, thanks to its 65 windows throughout. With four bedrooms, three baths and laundry all on the second floor, the home has an ideal floorplan for a family. Luxe details include oak flooring, a completely redesigned kitchen, a master suite, extensive built-ins and millwork throughout, and a large penthouse office with full bath, bar and two private decks.

1932 N Mohawk St1932 N Mohawk St
Original list price: $2.8 million
Sold price: $2.42 million
On one of the best streets in the heart on Lincoln Park, this grand, unique residence showcases its excellent craftsmanship the moment you see its stately limestone exterior. Those luxe features continue as you move inside, with an exquisite staircase, architecturally dramatic ceilings, a formal entry, high-end light fixtures, a master suite suited for a king and queen and three fireplaces. This home is built for entertaining, with a custom wine cellar, authentic bar, numerous outdoor spaces and a state-of-the-art smarthome system.

830 W Buena Ave830 W Buena Ave
Original list price: $2.395 million
Sold price: $2,293,333
This home is truly something to be seen—a one-of-a-kind modern estate that sits on three lots and was featured in Dwell Magazine. This home exemplifies the best of inspired modern design in the city, having been gut-renovated to the highest standards. The design features an incomparable width and breadth of indoor/outdoor living spaces rarely found in Chicago, centered around a sensational two-story glass-roofed atrium with sculpted concrete that creates a zen-like oasis in the hart of the home. Enormous rooms flow from one to another, from the huge living and formal dining rooms, to the chef’s Italian kitchen, to the private office. An LED-lit stairwell leads up to three ensuite bedrooms including a serene master wing with dreamy bath, backlit walls, freestanding Lupi soaking tub and steam shower. Outdoors, there is an expansive yard at grade level.

I highly recommend my clients in the market for a single-family Chicago luxury home review the latest sales to familiarize themselves with the market. Knowing the various features and upgrades found in these luxury homes can give you an idea of the price tag that comes with them—and can help you distinguish between your own must-haves and nice-to-haves when you think about what you hope to find in your own home.

For additional details and photos of the homes that sold in October, or to see Chicago luxury homes for sale now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Chicago Luxury Condo Sales Resume with 11 Sales Over $2 Million in October

You might recall that as we headed into the fall months, Chicago condo sales were a bit of a question mark after a soft September. But looking at October sales, that month may have been an anomaly, as October bounced back with not only a healthy number of total sales, but several units in the “ultra-luxury” sector that sold for more than $2 million.
Another trend that returned was that most of the luxury Chicago condos sold—including the top five most expensive ones—boast more than 3,000 square feet of living space. The top five were also newer or brand new properties, showing that buyers are still looking for turn-key properties that offer ample space when it comes to shopping Chicago condos.
All in all, October saw $80 million in total sales for Chicago luxury condos, with 51 sales in total ranging from $1 million up to $3.7 million. Here’s a closer look at the top five most expensive, in descending order:

11-e-walton-jpg11 E Walton St, Unit 3002
Original list price: $3.875 million
Sold price: $3.7 million
This exquisitely renovated Chicago condo in the Waldorf Astoria spans 3,436 square feet high on the 30th floor, allowing for stunning views of Lake Michigan. The 3 bedroom, 3.1 bath home offers plenty of space for entertaining, with a living and dining room that open to an east-facing balcony with gorgeous views and custom-designed fireplace that’s perfect for accommodating large groups. There’s also a new designer chef’s kitchen that includes Wolf, Subzero and Bosch appliances, a 10-foot waterfall island and ample storage. The master suite features sunset views from the private balcony or soaking tub, along with an expanded master closet with custom cabinetry. Residents of the Waldorf Astoria can enjoy the fie-star hotel amenities that are included in their monthly assessments, plus a 24-hour door staff and a valet parking space.

400 W Huron St400 W Huron St, Unit 1201
Original list price: $3.6 million
Sold price: $3.525 million
This newer boutique building was designed to redefine modern luxury, with unparalleled design and finishes. The current owner worked with a top designer to enhance the gorgeous design that features jaw-dropping views from every single room. A stunning, custom Valcucine kitchen was created to be the heart and soul of the home, opening up to a huge family room and 46-foot wide terrace. The master suite has been customized with a sitting room, two walk-in closets, and a spa bath that open up to a second, private east-facing terrace. Building amenities include a fitness facility, temperature-controlled wine storage, secured bicycle storage, a covered, outdoor dog run and 24-hour door staff.

50echestnut50 E Chestnut St, Unit 2501
Original list price: $3.5 million
Sold price: $3.35 million
A three bedroom, 3.1 bath unit spanning nearly 4,000 square feet, this Chicago condo sits on the 25th floor with a split bedroom floorplan. The unit offers private elevator access/foyer into a double door entry, 10-foot ceilings and expansive floor-to-ceiling windows. Details like high-end finishes, motorized window shades, top-of-the-line appliances and Brookhaven cabinets and two private balconies with lake exposures up the luxury factor.

30WOak30 W Oak St, Unit 9B
Original list price: $3.1 million
Sold price: $2.95 million
This 9th floor, 3,349 square foot three bedroom Chicago condo is located in one of the top boutique buildings in the Gold Coast. It’s been meticulously upgraded with panoramic floor-to-ceiling windows, 10-foot ceilings and electronic shades throughout. Outdoors, a 24-by-12-foot terrace includes irrigated custom plantings, lighting and gas line. The Poggenpohl kitchen has new Carrera marble countertops, two Subzero refrigerators, four freezer drawers, two Miele dishwashers, two Miele ovens and a butler’s pantry with wine refrigerator. You’ll also find a bevy of other luxury details: a smarthome system that controls all home technology through a smartphone or tablet; limestone and white oak floors; a Victoria and Albert freestanding tub; Carrera marble floors in the master bath; and his-and-hers closets with built-in safes. The building also boasts a brand-new, state-of-the-art gym.

676 N Kingsbury St676 N Kingsbury St, Unit 504
Original list price: $2.379 million
Sold price: $2.475 million
These are River North’s best new luxury condominiums, bringing together a historic renovation with elegant new construction into 41 unique residences. This four bedroom unit spans 3,103 square feet on the second floor. The boutique building is designed to boast large outdoor spaces, 24-hour door man, exercise room, garage parking options and many units with private elevator access.

It was great to see the a strong month for Chicago condos as we head into the winter season. If you’re considering making a home purchase this is a great time of year to make it happen, as the competition among buyers often dies down, and many sellers are apt to make a deal so that their property does not sit on the market for another three months. Seeing what types of properties sold in the previous months can give you a good idea of what to expect when you’re prepared to hit the market yourself.

For more information on the Chicago luxury condos that sold last month or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Sales of Chicago High-End Luxury Condos Take a Dive in September

If you’ve been following along in recent months of Chicago condo sales, you’ll know that the real estate market had a busy summer among high-end properties. Sales far and above $1 million and $2 million have been common as of late, and I might have expected more of the same as we closed out September.

However, September was a bit unusual for the luxury sector. The most expensive sale topped out at just $1.5 million, which is hardly in the “ultra-luxury” category we’ve seen take over the top sales month after month. Not to mention, September is typically when the fall real estate market comes to life, as people return from summer breaks and want to make a move before the holiday season settles in.

So what does this anomaly mean? It could be a sign that the Chicago luxury real estate market is taking a turn in buyers’ favor. So far in 2017 has really favored sellers, thanks to limited inventory driving high prices. Many prospective buyers have either opted to wait out the market for better buying conditions, or are purchasing homes with cash to ensure they are able to get the home of their choice.

September Sales See Softer Prices, Square Footage

It’s possible that the various things at play throughout 2017 came to a head in September, resulting in sales that were significantly softer than what we saw in preceding months. The most expensive condo to sell in September went for just $1.5 million. Total sales volume for the month was $86.8 million, compared to August’s $95 million.

Another atypical trend last month was the square footage among the top sales. Most luxury buyers who are in the market for a condo still want at least 3,000 square feet, to retain the space of a single-family home but enjoy all of the conveniences of condo living.

And so, it’s safe to say that September was unusual. Let’s take a look at what the sales market brought with a closer look at the top five Chicago condos sold:

2748 N Lakewood Ave2748 N Lakewood Ave, Unit 2
Original list price: $1.435 million
Sold price: $1.4 million
A stunning row home in Lincoln Park, this row home spans 3,500 square feet (the only one out of the top five to cross the 3,000 mark in square footage). The open-concept living space is packed with luxury, style and sophistication, thanks to custom-quality details and finishes and fully outfitted technology like surround sound and recessed lighting. The home offers the privacy and security of a single-family home, with a gated courtyard entry and attached, heated two-car garage. The exterior boasts four spaces to enjoy the outdoors: a professionally landscaped, tranquil courtyard, two decks off the main and penthouse levels, and a custom-designed rooftop that feels like a five-star resort with breathtaking city views. Lincoln Park is a neighborhood coveted for its great location and this home is no exception with a central spot just a short walk to the brown line.

540 W Webster Ave540 W Webster Ave, Unit 911
Original list price: $1.325 million
Sold price: $1.425 million
A welcome (and rare!) new construction addition to Lincoln Park, Webster Square is a boutique style, 12-story building with 89 units ranging from 1 to 4 bedrooms. This 3 bedroom, 3.1 bath condo is 2,130 square feet, with a modern, open-floor plan, high ceilings, fantastic views, private balconies and upscale finishes. This beautifully appointed building is packed with amenities like a 24-hour doorman, fully-equipped fitness center, club and party room, business center, rooftop deck with dynamic lake and city views and a landscaped half-acre private park.

1929 N Sedgwick St1929 N Sedgwick St, Unit A
Original list price: $1.499 million
Sold price: $1.475 million
Part of a stunning 1870s all-brick walk up, this duplex-up penthouse in Lincoln Park is one of a kind, recently redesigned by James Thomas Firm and with no detail left out. The first floor boasts towering, 14-foot ceilings with crown molding, transitional custom lighting and custom silk draperies. A wide-open floorplan includes an oversized family room with built-in cabinets surrounding a wood-burning fireplace. And the kitchen is the crown jewel—all-white custom cabinetry, 11-foot island, detailing lighting and an eat-in kitchen. On the second floor, find a gracious master suite with a private southwest deck, a built-out closet and luxury bath with dual vanities, separate shower and jet tub. Outdoors is a 1,500 square foot private deck with outdoor kitchen, tv, irrigation, lighting, motorized shades, planters and amazing skyline views.

600 N Lake Shore Dr600 N Lake Shore Dr, Unit 3704
Original list price: $1.478 million
Sold price: $1.475 million
Lake Shore Drive is another highly sought-after address for Chicago condos, and this one is in a prime location in the building’s north tower. With 2,159 square feet right on the lakefront, there is plenty of room to relax and entertain in this standout home. A wall of windows running along the living, dining and kitchen areas and balcony make way for breathtaking views of Lake Michigan, Ohio Street Beach and Navy Pier. Details like custom light fixtures, dark hardwood flooring, custom wall paint and exquisite décor make this a covetable home.

950 N Michigan Ave950 N Michigan Ave, Unit 4402
Original list price: $1.5 million
Sold price: $1.5 million
A prestigious magnificent mile location at a premier address, this 2,175 square foot condo is an elegant urban oasis. A key feature of this Chicago condo is the tall picture windows that bring in beautiful vistas of Lake Michigan, Oak Street Beach, Lake Shore Drive and the shoreline from every room. This unit in particular has the highest ceilings in the building, at 10.5 feet, plus an expansive living room, separate dining room and a redesigned, expanded kitchen. The master suite has two private baths the three walk-in closets. Amenities in this impeccable, well-managed building include an indoor pool, sun deck and grills, fitness center, attentive 24-horu door staff and available garage parking.

No matter where you are in the process, if you’re considering purchasing a luxury Chicago condo, I highly recommend getting familiar with the most recent sales. Seeing what types of properties and features sold at what price helps give you an idea of what you might be looking at when you’re ready to find a property that matches your needs and your budget.

For more information on the Chicago condos that sold last month, or to see what’s on the market now, contact me at (312) 498-5080.

Sales of Chicago Luxury Single-Family Homes Fall Dramatically in September

For much of this year, Chicago luxury home sales have been rather robust, even through the typically-slow summer months. But September was a totally different story from what preceded it.

Not only have we seen healthy luxury sales (those $1 million and up), we’ve seen a surge in ultra luxury sales as well. Homes selling in the $4 million and $5 million range have not been uncommon in 2017. But last month, the most expensive properties were within a very narrow range along $1.4 million.

This could indicate a turning point in the Chicago luxury market—one that favors buyers at long last. Colleagues of mine with listings have been calling to ask my thoughts on the slowdown, and I attribute some of it to the fourth-quarter usual slowdown, when we always see a marked downturn in the number of buyers looking to purchase.

But, I do think the market could be skewing toward the buyer as well. The beginning of November is a great time to get serious about buying real estate. This time of year, sellers are nervous about having their properties on the market into the new year. That makes negotiating a bit easier, whether it’s for a reduction in price or more favorable terms.

It will be interesting to see how October shakes out compared to September, which closed out with 26 luxury sales of single-family homes and a total sales volume of $32.7 million. But for now, let’s dive into September, with a closer look at the top five single-family homes that sold during the month:

1835 W Barry Ave1835 W Barry Ave
Original list price: $1.549 million
Sold price: $1.475 million
This home exudes luxury as soon as you walk up to its handsome façade accented with rich, limestone detailing. The all-brick, extra wide property was custom built with a function floorplan that includes 3 en-suite bedrooms and full laundry room on the second floor; a private penthouse office space; an incredibly eat-in kitchen with top-of-the-line appliances and functionality; a generous great room; and beautifully detailed natural stone baths. There are also three private outdoor spaces, including a fully turfed roof deck, private garage deck with trex decking and pergola, rear patio with fireplace and an extra-wide and heated 2.5 car garage. The home also boasts full-home automation with a projection TV, designer-selected window treatments and a heated front limestone walkway and stairs. It’s also interesting to note that the buyer of this home paid cash.

2683 N Burling St2683 N Burling St
Original list price: $1.498 million
Sold price: $1.465 million
Located in east Lincoln Park, this corner lot home has been completely rehabbed across its three levels and 3,100 square feet. The interior boasts a gourmet kitchen, a master bath with radiant flooring and steam shower, plus a third-level recreation room with wet bar, beverage center and a full bedroom and bath. There are also numerous outdoor spaces to enjoy, and thoughtful finishes appointed throughout.

1950 N Sheffield Ave1950 N Sheffield Ave
Original list price: $1.599 million
Sold price: $1.45 million
With 4,400 square feet in the heart of Lincoln Park, this classic graystone was gutted and transformed into a luxury living space for the 21st century. The main level boasts a living/dining room combo, family room with French doors and a highly upgraded eat-in kitchen. On the second level is a massive master suite with oversized bedroom, newly renovated bath with dual vanity, two-person shower and large, custom walk-in closets. There are also upscale details like oak floors, two fireplaces, zoned HVAC and a home theater. A rooftop deck offers a gazebo and panoramic skyline views.

2635 N Dayton St2635 N Dayton St
Original list price: $1.549 million
Sold price: $1.435 million
This all-brick, three-story home is an absolute gem on a tree-lined street in Lincoln Park. The super-wide living and dining rooms make ideal space for entertaining, while a gracious living room with fireplaces brings in loads of light and overlooks the front garden and trees. In the kitchen you’ll find a big island and high-end appliances; in the family room, a fireplace and opening to the landscaped terrace. The master suite shares a floor with two bedrooms, with an additional two bedrooms on the third level. The buyer of this gem paid cash.

4131 N Oakley Ave4131 N Oakley Ave
Original list price: $1,442,500
Sold price: $1,402,500
The only new construction property in this month’s top five, this 4 bedroom home was meticulously built across every detail of its 4,000 square feet. Features include high-end finishes throughout, a gourmet kitchen, commercial-grade appliances, coffered ceilings, a wood-burning fireplace and floor-to-ceiling windows. A lavish master suite boasts his-and-her closets and a master bath with heated marble flooring, steam shower and Victoria Albert freestanding tub. On the lower level, radiant heat warms a huge family room with wet bar, fourth bedroom, den/office and powder room. And the exterior includes a stunning backyard with brick-pavered patio, outdoor stone fireplace and a finished trex roof deck and pergola over the garage.

If you’re considering a purchase in 2017, take a look at these sales and see how they compare to your own wants/needs for a new home and your budget. That can give you an idea of what to expect, especially if the market is indeed taking a turn in buyer’s favor.

For more on last month’s sales or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Market Times for Chicago Luxury Home Sales Were Amazing in August

Just when you thought there would be a complete, expected slowdown for luxury home sales, it just didn’t happen in Chicago. Thus August, $1 million-plus homes sold at record speed, showing the pent-up demand for high-end real estate in the city.

With a total of $89.6 million in sales, properties sold in as little as three days up to 43 days after they were put on the market. And three out of the top five most expensive homes sold did so for cash (without a conventional mortgage), which also added a carrot for the sellers as well.

Lincoln Park a Favorite of Luxury Buyers

It’s no surprise that three of the top five homes sold were also in Lincoln Park. Luxury buyers love this neighborhoods for everything from its school districts to its parks to its proximity to downtown. Bucktown and Lakeview also made an appearance among the top five. The diversity in neighborhoods for these sales seems to indicate that buyers are realizing they can get more bang for their buck if they look outside of Lincoln Park and the Gold Coast, both of which come with a high price tag for location alone. Expanding your real estate search to other desirable neighborhoods could land you with more space, more features and more upgrades for the price.

Without further ado, here’s a closer look at the top five most expensive homes that sold in Chicago in August, in descending order:

1847 N Howe St1847 N Howe St
Original list price: $4.2 million
Sold price: $4.05 million
Gorgeous, meticulously designed and in the heart of Lincoln Park. This 6,500 square foot home starts with a striking limestone façade that leads to an amazing interior with the highest end finishes. The home is an entertainer’s dream, with a perfect layout, soaring ceiling heights and a sunny kitchen/great room combination that opens to a raised terrace area. Beautiful millwork can be found throughout six bedrooms (five on the upper levels) and the top-floor bonus room, which opens up to a terrace with fireplace and amazing city views. The home includes an elevator to all levels, including the penthouse level roof deck. The spacious lower level includes a guest room, family room, exercise room and a mudroom.

1637 N Burling St1637 N Burling St
Original list price: $3.995 million
Sold price: $3.9 million
A stunning home with a limestone façade on Lincoln Park’s most sought-after block, this home sold in a mere three days. Inside, you’ll fix 6 bedrooms and 6.2 baths; and outside, 4 great outdoor spaces, including a 4th floor roofdeck that provides the utmost privacy and iconic skyline views. The first floor is ideal to entertain with a formal living and dining room, a top-of-the-line eat-in kitchen that opens up to the great room, with easy access to two outdoor areas. The home has been highly upgraded throughout, with functional upgrades like smart home technology, heated bathroom floors and motorized shades; plus, aesthetic upgrades like white oak flooring, generous ceiling heights, solid wood crown molding, four-stop mahogany elevator and custom built-ins.

1723 W Wabansia Ave1723 W Wabansia Ave
Original list price: $3.2 million
Sold price: $3 million
Located on a 36-foot wide lot in Bucktown, this luxury Chicago home was turnkey ready for its lucky buyer. Inside, you’ll find a top-of-the-line kitchen, 4 generously sized bedrooms on the second level, a master suite with 12-foot ceilings and a spa bath, and a lower level gym, wine cellar, wet bar and much more. There’s also full-home automation to control surround sound, temperature, lights, the security system and window shades. A 1,600 square foot rooftop includes a full outdoor kitchen, pergola, Sunbrite TV, surroung sound, irrigation and lighting. Plus a 20 x 30 foot garage deck off of the living room and cozy private rear patio with fireplace and built-in grill. This home spent just 16 days on the market before it was sold.

1455 W Oakdale Ave1455 W Oakdale Ave
Original list price: $2.975 million
Sold price: $2.875 million
This custom-built, brick and limestone home sits on a double-wide lot, allowing for a whopping 7,622 square feet of living space inside. With 6 bedrooms and 5.1 baths, the home has been highly upgraded in the last decade. Inside, you’ll find a long list of exquisite details like oak flooring, custom closets, custom window treatments, a lower-level steam shower, a mahogany paneled library, hand-scraped walnut floors in the living room, dining room and second floor bedrooms hand-scraped hickory floors, custom cherry doors, baseboards, wainscoting and a wood-paneled media room with 11 recliners. This home spent 38 days on the market before it was sold.

2245 N Seminary Ave2245 N Seminary Ave
Original list price: $2.795 million
Sold price: $2.5895 million
This gorgeous home was built in 1886, but just underwent a top-quality redevelopment on its quiet, coveted block in Lincoln Park. Boasting 5,232 square feet, 6 bedrooms and 4.1 baths, this property is a perfect blend of updated, stylish finishes seamlessly integrated with traditional elements that reference the home’s deep history. Four bedrooms sit on the top level, including a master suite that includes a bath with massive steam room and a freestanding Victoria and Albert tub. An extra-wide kitchen flows into the family room at the back of the house, where the space is flooded with light from all sides, highlighting exposed brick elements and reclaimed wood beams. The living and dining room have more formal characteristics, like herringbone floors and upscale moldings. There is also a new, 1,000 square foot Chicago common brick addition and a new two-car garage with a Trex roof deck. This home spent 43 days on the market before it was sold.

For more information on the homes that sold last month, or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Chicago Luxury Home Sales Focused on Ultra-Luxury in July

High-end real estate in Chicago kept pace with the weather in July: hot, hot, hot. Luxury-single family homes saw an incredibly strong month of sales, particularly on the very high end.

Twelve of the $1 million-plus sales of single family homes were actually in the $2 million-plus range. And six of them were in the ultra-ultra luxury range, topping $3 million. The highest price home sale for the month clocked in at more than $4 million. All in all, it is a rarity to see these kind of sales during a summer month, but luxury buyers are proving to be “in market” no matter what the time of year.

Hot Features for Chicago Luxury Real Estate

Of course, these homes that sold at high prices certainly have plenty to offer, especially as it relates to today’s buyer’s wish lists. I find that most luxury buyers have a few features on their must-have lists for a new home:

  • A large lot: As in, larger than the standard 25 x 125 feet. Extra-wide or extra-wide lots allow for more space, open floor plans or outdoor areas that can be tough to find in the city.
  • Large rooms: Today’s luxury buyer wants a master suite that will make a high-end hotel envious. Spa-like baths, ample square footage and “wow” closet space are just a few things that take a master bedroom over the top.
  • High ceilings: A minimum of 10 feet.
  • Elevator: for 3- and 4-level homes, an elevator that makes for easy access to all floors in definitely a luxury feature, and I’m seeing more and more of it in new construction properties in particular.

These features not only add the comfort and characteristics to a home that a luxury buyer wants, but also add an air of sophistication and elegance.

Chicago’s Top Luxury Home Sales in July

It’s no surprise then that the month’s top five sales offer these features and much more. Here’s a detailed look at the most expensive single-family homes that sold in July, in descending order:

1734 N Mohawk St
Original list price: $4.5 million
Sold price: $4.15 million
Even though this home was on a slightly smaller-than-standard lot, it had an additional feature that buyers love: It’s brand new. Located in East Lincoln Park, this 6,800 square foot property was meticulously designed, paying homage to the turn-of-the-century Chicago home. It boasts a few unusual features as well: 7 bedrooms and 6.3 baths (a high number for a home this size) and a breezeway. The breezeway is an architectural features that allows for direct access to t he garage, and it is difficult to find in a Chicago home as it is difficult for a developer to create. The home’s elevator leads to all floors, including the penthouse with roof-top deck and skyline views. Luxury finishes, exquisite detailing and more make this home no surprise that it took the top spot in July.

23 E Scott St
Original list price: $3.34 million
Sold price: $3.2 million
No detail was overlooked in this beautiful home on an extra-long lot, designed by Nate Berkus’ right-hand woman who transformed it into a property with unparalleled style. The entry level features classic, original black and white marbled stone. A brand-new kitchen brings in amazing light through south-facing, floor-to-ceiling windows. An elevator or Adler-sequence staircase takes you between floors, where on the third level you’re find two ensuite bedrooms and a library that could be made into an additional bedroom. A concealed bar at the staircase landing has a beverage refrigerator and coffee bar. The entire top level is devoted to a luxe master suite, with two closet “rooms” and a bath with heated marble floors, dual sink, soaking tub and separate shower.

2139 N Seminary Ave
Original list price: $3.5 million
Sold price: $3.43 million
A brand-new home by a top Lincoln Park developer, this brick and limestone home has plenty of space in its open floor plan. High ceilings, a combination living/dining room, powder room and chef’s kitchen span the first level. The adjoining family room with fireplace and built-ins opens out to rear patio with wood-burning fireplace and deck over garage. The master suite spans the rear of the home with a spa bath, dual vanities, spacious steam shower, separate tub and walk-in closet. And the lower level features a rec room with built-in bookcases, laundry room, full bath, climate controlled wine cellar, wet bar and two additional bedrooms.

2248 N Orchard St
Original list price: $3.89 million
Sold price: $3.465 million
This 8,500-square foot home on an extra-wide lot is just steps from Oz Park, with four levels of superior quality. The main level boasts a grand. Living space with 11-foot ceilings, classic architectural details and two wood-burning fireplaces. The eat-in kitchen includes Woodmode cabinets, top-quality appliances and butler’s pantry; and the family room opens up to a two-tiered terrace with marble baths, rec room, home theater, dual laundry and huge roof deck with skyline views. This award-winning home is located on a quiet residential block in Lincoln Elementary School District, near restaurants and public transportation.

643 W Arlington Place
Original list price: $4.495 million
Sold price: $3.825 million
An extra wide (50 feet!) and extra long (175 feet!) lot size allows for a whopping 8,500 square feet inside this architectural masterpiece by Wheeler-Kearns. Located in East Lincoln Park, this home is contemporary, light-filled and boasts a dramatic design in its six bedrooms, 5.1 baths and renovated studio apartment. Other jaw-dropping features include and indoor, heated lap pool, hot tub and an incredible spa pool house. The loft-like two-story family room and breakfast room feature a wall of glass that faces the large landscaped backyard. This home is ideal for family living and entertaining, with a brand-new chef’s kitchen, huge lower level with playroom, full-floor master suite, three oversized bedrooms and a larger terrace on the third level.

For more information on the luxury single-family homes that sold in Chicago last month, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

July Luxury Condo Sales in Chicago Were Hotter than the Weather

When July sales statistics come in strong, it’s a clear sign that the Chicago luxury condo market is on a tear. Last month, total sales volume for luxury condos was $92 million. Thirteen of the 59 sales for the month fell into the “ultra luxury” category—selling for more than $2 million. Sale prices went all the way up to more than $4 million.

Many of the homes that sold in July were on the market for just a few days. Several of the most expensive homes sold did so in less than five days.

As I have been stressing to all of my luxury clients, there is a magic number for square footage in luxury condos. Buyers typically want no less than 3,000 square feet, and that was apparent in last month’s sales as well. Several sales even topped the 4,000 mark.

Whether trading up, coming to the city from the suburbs or relocating to Chicago all together, buyers want large square footage and are willing to spend well into the millions to get a condo that offers it. Even though the assessments for these types of buildings are quite a bit higher, the cost hasn’t deterred clients form purchasing in them.

Here’s a closer look at the top luxury condos that sold last month, with the top five sales in descending order.

432-W-Grant-Pl432 W Grant Pl, Unit 2E
Original list price: $4.095 million
Sold price: $4.095 million
This property was sold before print, so details are scarce. But it’s safe to say that with 4 bedrooms and 4.1 baths in Lincoln Park, this was a highly sought-after home.

400-w-huron400 W Huron St, Unit 1501
Original list price: $4 million
Sold price: $4 million
This new construction building has been declared Chicago’s next iconic building, and it’s easy to see why. From the developer of 30 West Oak, the building boasts contemporary design inside and out, with 10-foot ceilings, high-end cabinetry and appliances, stone floors, luxe baths and expansive terraces. There are only 25 homes in the building, and residents enjoy separate, enclosed 2- and 3-car garages, plus amenities like a 24-hour doorman, fitness, wine storage and dog run. This unit in particular boasts 3 bedrooms and 4.1 baths on the 15th floor, spanning a generous 4,650 square feet.

77-e-walton77 E Walton Pl, Unit 27A
Original list price: $3.7 million
Sold price: $3.55 million
The Residences at 900 are a mainstay of high-end real estate in Chicago, thanks to its true sense of luxury, upscale service and Magnificent Mile convenience. This Chicago condo is a 3 bedroom, 3.1 bath across 4,320 square feet on the building’s 27th floor and just underwent an expansive renovation. Features include floor-to-ceiling windows, extraordinary lake and Magnificent Mile views, a chef’s kitchen, custom stone baths, Lutron home automation, customized closets and more. The building boasts a sundeck and fitness options as well.

1448-N-Lake-Shore-Dr1448 N Lake Shore Dr, Unit 19 A B
Original list price: $3 million
Sold price: $2.85 million
This totally renovated penthouse co-op has what every Chicago luxury buyer wants: views. Sixty feet of them, to be exact, looking out onto the lake, beach and Navy Pier. With 4,800 square feet on the 18th floor, this home boasts a private elevator that opens into an elegant spacious gallery; a corner library with views; a dining room with bay windows that overlook the lake; a combined chef’s kitchen; plus, hardwood floors, high ceilings, tons of storage, central zoned a/c and in-unit laundry.

1040 n lake shore1040 N Lake Shore Dr, Unit 6D
Original list price: $2.75 million
Sold price: $2.6 million
The Carlyle is a building known for its hospitality, and this 3,020 square foot unit is located on the rarely available “D” tier. Having just underwent a full-gut rehab led by award-winning designer Rebekah Zaveloff, this condo features a grand living room, separate dining room, a magnificently redesigned kitchen, and a grand master bedroom with lake views, his-and-her closets, Calcatta marble  bath, separate soaking tub and huge walk-in shower. The building itself is packed with amenities, including 24-hour staff, gym, banquet room, indoor pool, sundeck and parking.

With sales so strong in the dead center of summer, it will be interesting to see what August brings in Chicago real estate. It’s safe to say that ample square footage, new construction or renovated homes and prestigious buildings are factors that don’t succumb to any season or trend—it’s simply what the luxury buyer must have when shopping for a new home.

For more information on last month’s luxury condo sales or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Strong Luxury Chicago Condo Sales in June, with 13 Units Selling for Over $2 Million

We’re well into a strong summer for Chicago luxury real estate sales, and the high-end condos that sold in June show it. The month saw $107 million in total sales volume for high-end ($1 million plus) condo sales, and 12 of those properties closed at a price of $2 million or more.

The most expensive Chicago condo sale in June was at the Waldorf Astoria. The property offers a whopping 4,000 square feet of interior space, and for the luxury buyer, it is all about the square footage. I’ve stressed this month after month as we report on the top properties sold in the Chicago luxury market—that buyers today want a minimum of 3,000 square feet in their new home.
New luxury developments have clearly taken note of this as well, as many new construction condo buildings offer “large living” in an urban space. New construction is again becoming hot with the Chicago buyer, as new properties (like 400 W Huron—more on that below) offer residents the sprawling space they’d find in a home in the suburbs, but with the location, amenities and convenience of city life.

But space and newness aren’t the only things the luxury buyer is willing to pay a premium for. Many are also after a great view, whether it’s of the cityscape, Lake Michigan, the skyline or better yet—all of the above.

Here’s a look at the top five most expensive properties that sold during that time:

Waldorf Astoria Chicago11 E Walton St, Unit 3802
Original list price: $4.725 million
Sold price: $4.375 million
The 38th floor of the infamous Waldorf Astoria, this Chicago condo offers forever views and is an entertainer’s paradise. The 4,000 square feet offers huge interior rooms, including a separate living and dining room and a large den (plus two terraces!). The indulgent master suite boasts three walk-in closets, an expansive sleeping room with fireplace, private terrace and a master bath with all-natural stone, huge walk-in shower, luxury Jacuzzi tub, heated floors and two oversized vanities. Other details include 10-foot ceilings, marvelous custom finishes throughout and complete control for an audio/visual system. Residents of the Waldorf Astoria also live among the epitome of luxury amenities from the building’s hotel, including a state-of-the-art spa, exercise room, pool, in-room dining and a Michael Mina restaurant.

400-w-huron400 W Huron St, Unit 1502
Original list price: $3.95 million
Sold price: $3.95 million
The new construction building at 400 W Huron comes from the same developer as the beloved 30 West Oak. This 4,175 square feet unit is on the 15th floor and showcases groundbreaking contemporary design inside and out. Luxe features inside include 10-foot ceilings, Miele appliances, stone floors, expansive terraces and separate, enclosed 2- and 3-car garages. Amenities include a 24-hour doorman, fitness center, wine storage and dog run.

401NWabash401 N Wabash Ave, Unit 85A
Original list price: $4.3 million
Sold price: $3.12 million
The 85th floor of 401 N Wabash predictably offers spectacular views, and this unit is no exception. Just over 3,000 square feet, this condo features the building’s signature curved glass and panoramic floor-to-ceiling windows. That means unobstructed views in every direction. Other luxury features of this Chicago condo include 11-foot ceilings in every room, three fireplaces, hardwood floors, a state-of-the-art kitchen with Miele, Sub-Zero and Wolf appliances, and a master bedroom with his-and-her closets and a spa-like bath.

Water Tower Residences180 E Pearson St, Unit 6205
Original list price: $3.29 million
Sold price: $3.1 million
Properties in the Water Tower Residences are rarely available, let alone an exquisite renovation like this one. Spanning 2,975 square feet on the 62nd floor, this Chicago condo has stunning views of the lake, Navy Pier and the city skyline. The designer chef’s kitchen features custom white cabinetry, the latest Wolf, Bosch and Sub-Zero appliances and a butler’s pantry and wet bar. You’ll also find state-of-the-art mechanicals that make this property truly upscale: Lutron lighting system, motorized shades, integrated lighting and an AV system. Residents here also enjoy amenities and 5-star services from the neighboring Ritz-Carlton Hotel.

400-w-huron400 W Huron St Unit 1201
Original list price: $3.1 million
Sold price: $3.1 million
Another property in newly developed 400 W Huron, this one a 3 bedroom, 3.1 bath with 4,091 square feet on the building’s 12th floor.

This monthly sales round-up paints a good picture for the prospective buyer as to what you can expect to find when you’re ready to get your own real estate search underway. Square footage, breathtaking views and newness all highly sought after, and therefore can come at a premium, especially when the market is hot. As an agent, I always work with my clients to ensure they understand the landscape of the current market, but also where they might be able to negotiate. The high-end real estate market is a nuanced one, but I am happy to talk more with you on what you can expect if you’re looking to make a purchase.

For more information on the Chicago condos that sold last month, or to see what’s on the market now, contact me at (312) 598-5080 or email me at ssalnick@dreamtown.com.