Luxury Chicago Home Sales Slow Down in February

Over the last several months, it hasn’t been uncommon to find a property or two on the top sales each month that I’d call “ultra luxury.” These are the homes that sell for $3 million up to $8 million, typically in Lincoln Park.

February’s sales did not include a property like this, and it’s the first month in some time where this is the case. This could be signaling a trend for 2018, so it’s definitely worth keeping an eye on in the Chicago luxury market.

But any number of things could be taking a toll on luxury sales. What we saw last month could simply be a product of the low inventory for these ultra-high-end homes combined with Chicago’s brutal February weather. Or the most recent increase in mortgage interest rates. With that in mind, it’s interesting to note that three out of the top five sales in February were sold to cash buyers. Most of them were also on extra-wide lots, which continues to be a coveted feature for single-family homes.

February’s luxury market saw 31 single-family homes sold in all, for a total of $48 million in sales volume. Let’s look at some of the details about the properties that sold, starting with the most expensive:

1236 W Lill Ave1236 W Lill Ave
Original list price: $3.225 million
Sold price: $2.975 million
February’s most expensive home sale is a whopping 6,300 square feet of new construction on a double lot spanning 45 x 127 square feet. That space allows for coveted features like a huge backyard, attached two-car garage and four bedrooms on one floor. Unique features include high ceilings, a brick/limestone façade, rift and quartered oak floors, exquisite millwork, a curved custom staircase and 4 wood-burning fireplaces. The main floor boasts a gorgeous living room, formal dining room, spectacular ceiling detail and large bay window. A gourmet eat-in kitchen has Calcutta counters, a large center island, Wolf and SubZero appliances and a built-in banquette. There is also a large great room, a limestone outdoor porch, gorgeous master suite and a lower level with family room, guest bedroom, private office and custom wine cellar.

1855 N Hermitage Ave1855 N Hermitage Ave
Original list price: $2.595 million
Sold price: $2.56 million
Another new construction home, another oversized lot. This 6,000 square foot home was built with unparalleled attention to detail in the heart of Bucktown. Inside, find features like a handsome brick and limestone façade with copper accents; rift and quarter sawn flooring; beautifully detailed millwork and custom cabinetry, high-end appliances, Waterworks bathrooms and more. There is over 1,500 square feet of outdoor spaces, with a garage deck and rooftop deck that let you enjoy skyline views. This home is also within easy walking distance of everything Bucktown has to offer.

2101 N Dayton St2101 N Dayton St
Original list price: $2.999 million
Sold price: $2.55 million
A premium home in Lincoln Park, this 5,500 square foot home is showcases with a brick and limestone exterior on a corner lot on a great block. The extra-wide interior is crisp and clean, with a southern exposure that floods the space with light. Other features include high ceilings; large window; a great floorplan; a gourmet kitchen with large, open great room; large master suite; a lower level mudroom, playroom and study; and a beautiful yard with three decks.

338 W Oakdale Ave338 W Oakdale Ave
Original list price: $2.195 million
Sold price: $2.1 million
This East Lake View home was freshly updated, and its 6,400 square feet are exquisitely highlighted by a flood of natural light. Located on an oversized lot a half-block from Lake Michigan and Diversey Harbor, this home is also in the top-rated Nettlehorst School District. Features include soaring 12-foot ceilings, expansive custom millwork, a passenger elevator, exotic hardwood flooring, three fireplaces and a hard-to-find, 3.5 car attached garage. The well-designed floorplan allows for spacious bedrooms, full-size laundry, a secluded rec room with private patio and marble baths. And a unique entry level is ideal for a live/work space, nanny or in-law unity with an open living area and private outdoor space.

1731 N Hermitage Ave1732 N Hermitage Ave
Original list price: $2.095 million
Sold price: $1.995 million
Another new construction home on one of the most desirable tree-lined streets in Bucktown, this home was billed as a “contemporary tour de force” by Norsman Architects. The high design and attention to detail in this home give it a bespoke sensibility, with expansive open living that is both luxurious and inviting. The home features an abundance of natural light, soaring 11-foot ceilings and a dramatic interior glass courtyard. There’s also an Italian kitchen, sumptuous spa-like baths, custom millwork and a gym with a sauna. The outdoor space is incredible, with garage and rooftop decks with city and neighborhood views.

For more information on the Chicago 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.

Top Sales Closed in January: 3 Vintage Chicago Luxury Masterpieces, 2 Luxury New Construction

Looking at the luxury Chicago homes that sold and closed, the month of January was highly unusual. The top five sales were each extremely unique, including two brand-new construction properties along with three vintage architectural masterpieces which sold for major, major discounts. The three vintage homes are truly special properties—but for real estate like this, there is often a limited pool of buyers, and would require a real investment in artistry to bring these gems back to their original grandeur.

All in all, January saw $77 million in total sales volume of Chicago luxury homes, with nine of those homes selling for more than $2 million. There’s lots to cover, so let’s jump right in to the top five single-family homes that sold in January, starting with the most expensive:

2466 N Lakeview Ave2466 N Lakeview Ave
Original list price: $7.15 million
Sold price: $4.65 million
This is Chicago’s historic “Wrigley Mansion,” a magnificent estate that was designed by famed architect Richard Schmidt and built in 1896. It spans more than 13,000 square feet, across a main house and additional structures on the property. The main house features 9 bedrooms, 6.3 baths, a grand foyer, a solarium, butler’s pantry, wine bar, walk-in vault, game rooms, staff quarters, a mahogany paneled library, sprawling master suite and a top-floor ball room with unobstructed views of Lincoln Park and Lake Michigan. It also includes a 2,000 square foot coach house with ground-floor storage and garage bays with two residential units above. Special details include mahogany cherry and bird’s eye maple woods throughout, marble fireplaces and fixtures, intricate mosaic tile, ornate hardware, gold and silver leaf finishes and coffered ceilings.

You’ll notice this home sold for more than $2.5 million less than the asking price—that’s quite a significant discount. This home was sold as a foreclosure, and while it holds a ton of history, was in need of some significant rehab, which likely helped the cash buyer do some major negotiating on the list price.

1440 N Dearborn Pkwy1440 N Dearborn Pkwy
Original list price: $6.45 million
Sold price: $4.625 million
This vintage property also sold for a major discount—nearly $2 million under asking price. The buyer paid cash, which likely gave him or her a leg up in negotiating the final price. The home is in the Gold Coast’s historic district near Oak Street Beach and the Magnificent Mile. Its style is a total stand-out, a gilded age mansion designed by James Egan with a blend of fresh Romanesque style architecture modernized for today’s buyer. The vintage charm lends itself to exceptional details, such as an elegant Tiffany stained glass oval skylight on the top level. But the rest of the home has been completely renovated across its four levels, five bedrooms and 5.2 baths, with a spacious open floor plan made for entertaining, a top-of-the-line gourmet kitchen with butler’s pantry, dining room and formal living room, plus a finished lower level with guest suite, exercise room and two wine cellars. Outside, the 150-foot-deep lot allows for plenty of space for a private, landscaped backyard paved with limestone.

1831 N Fremont St1831 N Fremont St
Original list price: $3.495 million
Sold price: $3.495 million
This is a brand-new brick and limestone home on the tree-lined Fremont Street in Lincoln Park. This new home offers more than 5,200 square feet of luxurious living space that is bright and airy, thanks to oversized windows throughout. Design details inside include custom cabinetry and millwork, professionally designed natural stone baths, a luxe master bath with oversized steam shower, separate vanities and private water closet. Outside, you’ll find a tremendous outdoor space including a yard, rear patio, garage deck and secluded rooftop deck with covered patio and fireplace. Plus, the home includes a radiant-heated lower level, front steps and rear walkway along with an oversized two-car brick garage.

1248 N Astor St1248 N Astor St
Original list price: $3.65 million
Sold price: $3.15 million
Built in 1886 on a 29-foot lot, this architectural gem in the Gold Coast is located on one of the city’s most prestigious blocks. The three-story limestone home spans 8,000 square feet with six bedrooms and 6.1 baths. Period details brings a certain stately dignity to this home, such as a wide foyer with custom millwork, a restored original staircase, a beautifully restored fireplace and a wood-paneled library overlooking Goudy Park. The floorplan offers generous room sizes, a grand living room and dining room off the kitchen, plus high ceilings and hardwood floors throughout. You’ll even find the most coveted feature of any Chicago property: spectacular lake and city views.

This home also sold for well below the asking price—a whopping half million dollars.

2022 W Moffat St2022 W Moffat St
Original list price: $2.395 million
Sold price: $2.33 million
The final top sale from January was another brand-new build, this one made to be a 4,800 square foot contemporary dream home. The home was built on a hard-to-find 36-foot lot, which allows for an incredible floor plan with huge windows in the living and dining area that bring in southern light all day. A massive, open-concept living and kitchen area opens directly to a 30-foot long terrace and enormous roofdeck for the best in indoor-outdoor living. Upstairs, the second floor boasts four bedrooms and three baths, plus laundry; the master suite includes a sumptuous spa-like bath and massive walk-in closet, and on the lower level you’ll find a rec area complete with wet bar. Features aside, the location of this home can’t be beat, as it’s right off of Damen in Bucktown and within walking distance to parks, restaurants and shopping.

The top sales for January saw a mix of vintage stunners and contemporary new builds. This is one of my favorite things about Chicago real estate—if you’re a luxury buyer, you can find something that fits your taste, whether that’s old-world charm or new-age modern or something in between.

To learn more about the top sales closed in Chicago last month, 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 Most Expensive Homes Sold Quickly In June

Looking back at the Chicago luxury real estate market in June, there seemed to be a real need for speed. The top homes were off the market nearly as quickly as they were on—two of the most expensive properties sold within just 10 days of being on the market.

So what has buyers closing deals so quickly? It’s easy to see a few usual suspects among the features of recently sold luxury homes: wide lots, ample square footage and great neighborhoods. With a standard lot size of 25 ft x 125 feet, an extra-wide lot allows for mega square footage within a home, and many buyers want that extra space.
Lincoln Park also continues to be a neighborhood of choice for luxury buyers. Sought after for its quick access to the loop, easy bus transportation to Michigan Avenue and its host of interesting, diverse architecture, Lincoln Park has been a longtime favorite among both long-time Chicagoans and those relocating to the city for the first time.

Overall, June saw just over $138 million in total sales volume for Chicago luxury homes. The highest sale price was a whopping $4.9 million (more on that in a moment), and 17 homes sold for more than $2 million, suggesting that ultra luxury may be the new luxury.
With that, let’s take a look at the five highest-priced sales from last month, starting with the most expensive:

544WDickensAve544 W Dickens Ave
Original list price: $5.1 million
Sold price: $4.9 million
This month’s most expensive home sale has one feature we see more often than not among top home sales: an extra-wide lot. Situated on a 31-square foot lot (compared to the typical 25 feet), this home boasts 7,000 square feet of living space behind its intricate limestone façade. Soaring ceiling heights allow for grand scaled rooms and allow for tremendous natural light. The enormous living room is perfect for entertaining, with a kitchen and great room that opens up to an 850-square foot terrace. Additional details include wide-plank hardwood flooring on the main level, a fireplace in the master suite, radiant-heated entry and a library/office with a wet bar and fireplace. And the location can’t be beat: W Dickens is an upscale block in Lincoln Park, within walking distance to Parker, Lincoln Elementary, Lincoln High School and public transportation.

2224NDaytonSt2224 N Dayton St
Original list price: $2.65 million
Sold price: $4.8 million
Just steps from Oz Park and the bustle of Halsted and Armitage, this property is a renovated four-story home on one of the most beautiful blocks in Lincoln Park. The home spans 5,900 square feet with a traditional layout and open floor plan that includes a top-floor penthouse room and a lower level entertaining space.

1622NWolcottAve1622 N Wolcott Ave
Original list price: $3.995 million
Sold price: $3.75 million
An architecturally exciting contemporary home on a double lot, this Bucktown property is 7,000 square feet filled with the highest level of design and finishes. Inside, you’ll find 11-foot ceilings, 5-inch oak floors, floor-to-ceiling windows, and an ideal open floor plan. The chef’s kitchen includes Miele and Wolf appliances, Ernestomeda cabinetry and a huge cantilevered white quartz waterfall island. The spa-like master bath includes heated marble floors, custom walk-in closets, Ann Sacks tiles and an Antonia Lupi design.

455WDemingPl455 W Deming Pl
Original list price: $3.999 million
Sold price: $3.75 million
This custom built home in Lincoln Park sits on an extra-wide lot, allowing for a generous 5,200 square feet of living space. Filled with natural light, this home’s features include a 4-stop passenger elevator, high ceilings, commercial-grade appliances, a full-floor master suite, spa-like baths and more. And while it’s not uncommon for a luxury home to include an extravagant master suite, this master suite takes up an entire floor, and includes an over-sized steam shower and heated flooring. Residents of W Deming cal also enjoy full access to the amenities at 2550 Lakeview.

850WWillowSt850 W Willow St
Original list price: $3.375 million
Sold price: $3.3 million
Spanning across an extra-wide, 50 x 100 foot lot, this home has been renovated for modern living, with a new floor plan from architect firm Jean Du Fresne and design firm Jessica LaGrange. It’s 5,000 square feet boast a number of luxury features to make this property an oasis in the city: in-ground, heated saltwater pool, professionally landscaped backyard,, master suite with sensational spa bath, state-of-the-art technology throughout and more. The chef’s kitchen includes high-end appliances with Calcatta white marble countertops, a walk-in pantry and a large center island. Plus, it’s Lincoln Park location puts you right in the center of everything, from the comforts of a residential neighborhood to the activities of an urban sprawl.

Each month I recap the previous month’s sales for Chicago condos and single-family homes. For the luxury buyer, it’s important to have a gauge on the various features you might find in high-end properties and what price tag comes with them. That way when you start on your own home search, you can have an idea of what to expect and prioritize what “must-haves” will be in your future home.

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.

Luxury Home Sales in Chicago’s Lincoln Park Were on a Tear in May

When it comes to on-fire real estate in Chicago, Lincoln Park is where it’s at, especially if sales in May were any indication.

Luxury home sales (those sold for $1 million or more) were very strong in May, with 82 homes sold for a total of $128 million in sales volume. The highest price for the month topped out at $4.75 million. The number of sales considered “ultimate luxury” ($2 million and up) is a great indication of the strength in the market, especially in the coveted Lincoln Park. You’ll see that this neighborhood nearly took over the top five most expensive homes sold, and I expect that it will continue to be strong in the coming months.

Luxury Buyers Flocking to Lincoln Park
Lincoln Park is among the top neighborhoods on a buyer’s wishlist, and it’s easy to see why. A few reasons Chicagoans (myself included) love Lincoln Park:

Location: This is what real estate is all about, right? Lincoln Park is in the heart of it all: close to downtown Chicago, Lake Michigan, great schools and with easy access to airports and highways. The neighborhood itself boasts a suburban, residential appeal but with the benefit of an urban location.

Things to do: From fine dining to sports, shopping to theater, you can do it in Lincoln Park. There’s never a shortage of options for a night on the town, be it date night or family fun night.

Schools: Lincoln Park is home to some of the best public and private schools in the city.

Property types: Whether you’re shopping for a Chicago condo, a single-family home, a penthouse or anything with a sprawling yard, you can find it in Lincoln Park. This neighborhood has a range of property types to fit every lifestyle.

This is a neighborhood I love to introduce new buyers too, and I have extensive experience helping clients purchase in Lincoln Park, including new construction homes, resales and condominiums. There are several streets now that are being looked at as “prime” for getting a great price. More homeowners are looking to sell as demand continues to increase from those who want larger homes in the city but still in a great location.

burling1722 N Burling Street
Original list price: $4,799,500
Sold price: $4.75 million
Located in the walkable East Lincoln Park, this brand-new, solid masonry home offers an incredible amount of space: 7,300 square feet, thanks to a 36-foot wide lot. With 8 bedrooms and 5.2 baths, this home boasts an elevator to every floor, including the roof deck. The third floor along includes a media/family room, guest suite and extra bedroom; there’s also a massive family room, yard and a luxurious master suite. Other details include sound insulation, premium windows, professional-grade kitchen, spa-caliber baths, heated floors in full baths, and zoned radiant heated floors in lower level, garage and exterior. And the luxury features aren’t limited to the indoors. The home has amazing outdoor space with a roof deck, garaged deck and a terrace off of the master.

dayton1849 N Dayton St
Original list price: $3.595 million
Sold price: $3.485 million
There wasn’t much no note about this brand-new Lincoln Park home, other than its 5,400 square feet has been highly upgraded by Hastings Builders. Features of the home include a passenger elevator, attached garage and rooftop deck.

mohawk1720 N Mohawk St
Original list price: $3.3 million
Sold price: $3.040 million
Located on the border of East Lincoln Park and Old Town, this incredible 5,900 square foot single-family home is a grand representation of luxury living. Inside, you’ll find 12-foot ceilings on the main level, extensive trim and built-ins, rift/quartered hardwood flooring and a grand custom staircase. The space allows for multiple family room areas, an eat-in kitchen with top-of-the-line finishes, appliances and cabinets, six bedrooms and four en-suite bathrooms, a master suite with two walk-in closets and multiple laundry rooms. The top-floor great room has French doors that lead to a large roofdeck with skyline views.

fremont1928 N Fremont St
Original list price: $3.25 million
Sold price: $3 million
There’s plenty to love about this single-family home on a highly desirable street in Lincoln Park. The property boasts exquisite detail, quality craftsmanship and high-end finishes throughout, including an amazing chef’s kitchen, gracious living and dining room with wood-burning fireplace and a great room with French doors that open to a raised back patio and roof deck. The second-level master suite has abundant closets and a spa bath. And the lower level includes a family room, craft room and guest bedroom with full bath.

magnolia2017 N Magnolia Ave
Original list price: $2,999,999
Sold price: $2.85 million
This Lincoln Park home is on an extra-wide, 31-foot lot and was built by luxury giant GVP, ensuring that no spectacular detail was spared. The first is huge square footage. The space spans 7,800 square feet, with details like wood paneling, coffered ceilings, a huge private deck, and a truly unique floor plan that’s unlike anything else. There are six bedrooms, a four-car attached heated garage, an outdoor space with heated concrete and a magnificent list of upgrades that can be found from room to room.

I find it important to round up the most recent home sales in Chicago to give my clients a glimpse at what the market looks like. Seeing what luxury homes are trading for and what features are included in each is great research for a buyer who’s trying to determine their own budget and “wants” from a home purchase.

For more information on home sales in May, Lincoln Park, or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Single-Family Luxury Homes Sell Well in April

Looking at the April numbers, Chicago’s luxury market sales are up, and I’d predict that the rest of spring should continue to be a “seller’s market.”

Last month, 11 of the properties sold were in the “ultra-luxury” class, meaning luxury single-family homes that sold for $2 million up to $4.775 million. Of the top five most expensive sales, two were in the $4 million range and one was in the $3 million range. In total, April saw 64 luxury single-family homes sold for a total sales volume of $103 million. It’s safe to say that extremely high-end homes saw healthy sales, and that the initial trend appears to indicate a strong spring luxury market in Chicago.

It’s also safe to say that luxury buyers are gravitating toward a key feature: space. As we’ve seen consistently over many months, two of the top five Chicago home sales for last months were properties that are on above-standard-size lots. The extra space allows for more interior space and larger room sizes, which makes transitioning from suburban living to the city much easier.

With that, here’s a look at the top five homes that sold last month, beginning with the most expensive:

1702-N-Burling-St-Chicago-Single-Family-Home-Front-Door-21702 N Burling St
Original list price: $4.775 million
Sold price: $4.775 million
This brand-new construction property in Lincoln Park didn’t have too many details to speak of, but it was built on an extra-wide (36 feet) lot, which is a key feature when it comes to luxury properties. The 8 bedroom, 5. 2 bath spans 7,300 square feet and is in a great location one block east of Halsted in the Lincoln Park school district.

astor1400 N Astor St
Original list price: $4.995 million
Sold price: $4 million
Built in 1886, this Gold Coast home on Astor Street is the epitome of sophistication. The historical integrity of the home has been maintained through a number of renovations and additions that have updated the home for modern living. Inside, you’ll find a number of gorgeous details like a grand foyer with custom millwork, mahogany paneling, parlor with original built-ins, marble fireplace and more. The second floor includes 4 large bedrooms, each ensuite and with ample closet space. The master suite has a rotunda, three walk-in closets, white wood paneled bathroom with double vanity, soaking tub and separate shower. The third floor is idea of a nanny / au pair suite or playroom, fitted with two additional en suite bedrooms.

dayton2243 N Dayton St
Original list price: $3.595 million
Sold price: $3.33 million
On the outside, this home is a beautiful 1900s limestone façade; but on the inside a stunning new construction property awaits, having been completely gutted down to only the four exterior walls. This Lincoln Park home is more than 6,200 square feet, with an extra-wide interior that includes six bedrooms, a large master suite with two walk-in closets, an office, exercise room, large third-floor rec room, lower-level media room and 5.2 baths. The top-of-the-line finishes used throughout include marble tile, custom millwork, designer lighting fixtures and Lefroy Brooks plumbing fixtures throughout. A roofdeck with fireplace sites over the oversized 2.5 car garage, while a penthouse room offers roof access with city views. The location of this home is on a quiet, tree-lined street, just steps to Halsted and Armitage, where you’ll find shopping, restaurants and more.

willow612 W Willow St
Original list price: $2.999 million
Sold price: $2.725 million
Designed by Booth Hansen, this extra-wide home in Lincoln Park is one of a kind. A wide, open main floor plan brings in incredible natural light to its 5,500 square feet and six bedrooms. The chef’s dream kitchen includes Wolf and Subzero appliances, steam oven, and large additional butler’s pantry. The main level opens up to a gorgeous terrace with built-in grills and irrigated planters. A huge master suite has city views and expansive walk-in closet. And the coup de grace is a truly unbelievable rooftop deck, with built-in bar, grill, outdoor television, spa, and the best views of downtown. The home is also located in the Lincoln School district, a covetable feature for parents of school-aged children.

belden456 W Belden Ave
Original list price: $2.995 million
Sold price: $2,620,612
A historically landmarked home updated for modern living is the best of both world’s in Chicago real estate. This 6 bedroom, 5.2 bath home spans a whopping 7,600 square feet, located on a 50 x 130-foot lot in East Lincoln Park. The home boasts a number of historic details—original stained glass windows, fireplaces, doors and shutters—while accommodating modern living and design. Other features include oak floors, custom lighting, oversized windows, an elevator, two decks and professional landscaping. The lower level is currently a 2,200 square foot unit that could serve as a rental or be incorporated into the home, with 3 bedrooms, 2 baths, formal dining room, family room, living room, two patios and laundry room.

It’s a great idea for buyers to be familiar with the most recent home or condo sales to adequately prepare for your own purchase. Understanding the types of properties that sold and for what price will give you an idea of what to expect. I’m happy to show you photos and additional details of the properties that sold last month. Contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Luxury Single-Family Homes Sales in Chicago Weaker in February

For buyers who were ready to make a purchase last months, deals were certainly to be had. Looking at the February sales for luxury single-family homes in Chicago, it’s clear that sellers who have had their properties on the market for some time opted to sell at a reduced price and not hang on further.

With the prediction that interest rates are going to increase this year and an uncertain political environment, it’s possible that we could see the real estate market turn back to a buyer’s market. More undecided buyers might stay on the fence rather than making a move, which would create less competition in the market. But, it’s still early, and luxury sales in March should provide more of an indication one way or another.

In the meantime, the top single-family homes that sold in February pointed toward a few clear wants among luxury buyers: namely, new construction and extra-wide lot sizes. At least one of these two features are among the top five most expensive homes that sold last month.

Looking at what sold in the previous month is a great idea for buyers who want to understand what the market looks like before they head to the negotiating table themselves. I always recommend my clients see what types of properties and features are selling for top dollar, then seeing how those compare to their own budget. That way, there are no surprises or unexpected dollar signs when you’re ready to make your own offer.

With that, here’s a more detailed look at the top luxury homes in Chicago that sold last month, in descending order.

34 E Bellevue Place34 E Bellevue Place
Original list price: $3,999,999
Sold price: $3.75 million
This Gold Coast renovation was the top sale for the month, located on one of the very best streets in the neighborhood. The property boasts a one-of-a-kind style, elegance and timeless modern luxury with impressive custom millwork, magnificent LED lighting, an expansive outdoor terrace and decks and sun-filled rooms throughout. A luxurious master suite includes a marble bath with dual vanities with hidden mirror TVs and a separate soaking tub, huge steam shower and smart use of space. The chef-inspired gourmet eat-in kitchen has high-end appliances, wine cooler, huge marble island and opens via French doors to a large terrace with great outdoor dining. The coveted Gold Coast location is just one block from Oak Street Beach, Michigan Avenue shopping, restaurants and parks.

1225 W George St1225 W George St
Original list price: $3.995 million
Sold price: $3.6 million
A fabulous home with a 75-foot stretch of frontage, this property was transformed by famed architect Larry Booth in 1999 and was since won an AIA award. Its 7,400 square feet allow for an open floor plan and a design that boasts amazing sight lines from the front courtyard to the private deck. Incredible architectural details include concrete-beamed ceilings, large windows, oversized poured concrete slab floors with radiant heat and floor-to-ceiling custom fireplace. The kitchen (a stunner with stainless steel appliances, wine cooler, warming drawer and seamless granite countertops) opens to a large, inviting family room. The dramatic dining room with a floating wall conceals a butler’s pantry and half bath. The large master suite looks onto an incredible 40-foot indoor lap pool, with a master bath boasting a soaking tub, separate shower and private outdoor terrace. Additional living spaces offer even more space, like a huge studio that could be a separate commercial office and an incredible fifth bedroom that could serve as a playroom, nanny’s quarters or sleeping area.

2131 W Agatite Ave2131 W Agatite Ave
Original list price: $2,249,999
Sold price: $2 million
5,100 square feet
This newer construction home in Lincoln Square has been highly customized. Situated on an extra-wide, 37.5 foot lot on an quiet, tree-lined street, this home ensures no detail has been spared in thoughtful design and functionality. There are 12-foot ceilings throughout the main level, along with two wood-burning fireplaces, and a kitchen will all the bells and whistles: Twin Subzero built-in refirgerators, double Wolf oven and gas range, dual Bosch dishwashers, built-in Miele coffee/cappuccino maker and two wine beverage refrigerators. The large master suite has huge dual closets and a spa-like master bath with heated floors, a two-person steam shower and separate Jacuzzi tub. Outdoors, you’ll find an amazing finished roof deck with a veranda, outdoor TV, dual-tap built-in beverage chiller, grill, fans and gas firepit.

1455 W School St1455 W School St
Original list price: $2.099 million
Sold price: $1.995 million
This is a brand-new construction property in the Southport Corridor. Starting with a brick and limestone façade, this 4 bedroom, 5.2 bath home has been tastefully designed through and through, with elegant millwork and ceiling treatments, custom kitchen cabinet design and more. Also included are high-end bathrooms, commercial-grade appliances, large family and rec rooms and an amazing patio and rooftop deck.

4513 N Paulina St4513 N Paulina St
Original list price: $2.15 million
Sold price: $1.885 million
This 7 bedroom, 4.2 bath new construction home spans a whopping 5,700 square feet, thanks to an extra-wide, 35 x 163 foot lot. This brand-new modern masterpiece exhibits the most high-quality, master craftsmanship inside and out, with state-of-the-art finishes, top-of-the-line appliances, volume ceilings and much more. The square footage allows for expansive room sizes, and the whole house boasts amazing width, depth, flow and natural light. The outdoor space features a large rear deck and 1,000 square foot backyard. Located in a desirable Ravenswood/Lincoln Square location, this home also offers easy access to the El, Metra, shops, restaurants and entertainment.

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

Chicago Luxury Condo Sales in February Included Great Locations, Large Square Footage and Amazing Views

When I meet with a client looking to purchase a Chicago condo, a key part of our initial interview is to discuss their needs and wants when it comes to real estate. I most often find that clients are in search of specific locations, a minimum of 3,000 square feet of space, and amazing views. Views of the lake are especially important to clients coming to Chicago from other parts of the country—it’s often No. 1 on their lists (and I can’t say I blame them!).

That said, you’ll see that last month’s Chicago condo sales were all about those views. Each of the top five properties sold offer a spectacular view that would be sure to “wow” every guest. Another sought-after wow factor is the size of the unit. Four out of the top five properties have more than 3,000 square feet, with one boasting 4,180 square feet. That kind of square footage is almost as large as some houses in the ‘burbs.

February saw a total of 42 Chicago condos sold with a total volume of $61 million. Here’s a closer look at what sold, in descending order.

310 S Michigan Avenue310 S Michigan Avenue
Original list price: $4.9 million
Sold price: $3.8 million
This penthouse unit spans a generous 4,180 square feet with 4 bedrooms, 4.2 baths and a vintage charm blended with breathtaking quality. This Chicago condo has paid incredible attention to detail with recessed lighting, high ceilings, extensive crown molding, high ceilings, sun-filled rooms and five fireplaces. A 1,700 square foot terrace lets you enjoy the outdoors in the heart of the city. This Chicago condo boasts the best style, quality and location a buyer could ask for. It’s also worth noting that this home appears to have sold for more than $1 million below the original asking price.

4EastElm4 E Elm St, Unit 15S
Original list price: $3.7 million
Sold price: $3.665 million
One of the latest new construction opportunities among Chicago condos, 4 East Elm has nearly completely sold out. The building offers 35 sleek and modern half-floor residences, each with elevator entry and high-end finishes. Most units boast a least three exposures with lake and city views. The amenity offering is an ultimate urban oasis of luxury and privacy, with an outdoor pool, whirlpool, sun deck, fitness center, screening room and clubhouse lounge.

505 n lake shore505 N Lake Shore Dr, Unit 6806
Original list price: $2.345 million
Sold price: $2.345 million
This exquisite penthouse in Lake Point Tower is the ultimate in luxury. With 3,650 square feet, 3 bedrooms and 180-degree premium views of the city, lake and shoreline. Inside, find custom built-ins, a gourmet kitchen with high-end appliances, a wet bar in the huge living room, a large dining room and an elegant master suite. The building includes a private 2.5-acre part with an outdoor pool, grills, lagoon with waterfall, 24-hour security, newly remodeled health club featuring fitness on demand, indoor pool and racquet ball court.

340ERandolph340 E Randolph St, Unit 3201
Original list price: $2.445 million
Sold price: $2.3 million
This 3 bedroom, 3.1 bath Chicago condo in 340 On The Park boasts unparalleled panoramic views of Lake Michigan, Millennium Park, Grant Park, Maggie Daley Park and Michigan Avenue. The 2,371 square foot unit has exposures on the south, east and north sides and has been professionally designed with $100k in upgrades, including a custom built-in with fireplace, grasscloth wallpaper, solar shades, wool drapes and wiring for sound. The open chef’s kitchen includes Snaidero cabinets, GE monogram appliances and quartz countertops. The luxurious master bedroom suite includes a walk-in closet and master bath with Dornbracht fixtures, spa tub, separate shower and double vanity. Details throughout include bamboo floors, 9-foot ceilings, floor-to-ceiling windows, plus two balconies and two additional ensuite bedrooms. The amenity floor in 340 On The Park includes an expansive fitness center, 75-foot indoor pool and winter garden.

179-e-lake-shore-drive-co-op-apartments-360179 E Lake Shore Drive, Unit 25W
Original list price: $2.2 million
Sold price: $2.2 million
A coveted co-op building on East Lake Shore Drive, this 3 bedroom, 3.1 bath sold before print. This 3,045 square foot unit is on the 25th floor, but details beyond that were sparse.

For potential buyers, I always recommend reviewing the prior month’s sales to get an idea for what kinds of properties are selling for what price. That intel will serve any buyer well when they are evaluating the market with their own wish list and budget.

For more information on what 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.

October Luxury Home Sales in Chicago Show It’s a Buyer’s Market

They say the real estate market can change on a dime, and October’s luxury home sales in Chicago are certainly proof of that. Looking at the top sales for the month, it’s clear that many of the deals were made in favor of the buyer.

I’ve always encouraged buyers to get serious about their home search in the fall months, as the best time to purchase luxury real estate and obtain a real “deal” usually begins in mid-October and continues through the end of the year.

In the case of October’s Chicago luxury home sales, the list price versus the sold price shows some considerable discounting on these properties, showing that the buyers were in a good place to negotiate with motivated sellers who likely want to offload their properties before the end of the year.

Buyers Looking for Size, Outdoor Space in Chicago Luxury Homes

Another common denominator we can see among the top home sales in October is lot size. Three out of the top five homes sold were on lots larger than the standard 25 x 125 feet.

When it comes to luxury real estate, the lot size alone can tell us a lot. It typically means a more spacious interior with larger rooms, as well as big backyards or ample outdoor space. That’s why a large lot has become the standard that upper-bracket buyers are looking for, especially those coming from cities like New York and San Francisco and looking to maximize the space they get for their dollars.

In total, October saw 41 luxury single-family homes sold, for a total sales volume of $61 million. Let’s take a closer look at the five most expensive:

2122 N Seminary Ave
Original list price: $3.495 million
Sold price: $3.195 million

2122-n-seminary-aveSpanning 5,850 square feet, this stunning home was built to meet the highest standards. Some of the luxurious highlights include a handsome carved Indiana limestone façade, unusually tall ceilings, an extra-wide interior, solid walnut doors, substantial molding and trim, a custom elliptical staircase and three fireplaces. The interior décor comes from renowned designer and architect Joan Crag to create a comfortable, sophisticated aesthetic that is perfect for family living and entertaining. On the main level, you’ll find an English-style custom kitchen with a large island, built-in banquette and a pantry closet. Two large decks off of the family room as well as multiple rooftop decks provide plenty of room to enjoy Chicago’s summer weather. On the lower level, a recreation and media room offer even more entertaining space.

1302 N Ritchie Ct
Original list price: $2.795 million
Sold price: $2.55 million

1302-n-ritchie-ctLocated in the heart of the Gold Coast, this elegant Potter Palmer rowhouse has been gut renovated to ensure no detail or expense was spared in creating a timeless property made for modern living. On the first floor, find soaring ceiling heights, fireplaces in living and dining rooms, a custom kitchen with Italian limestone and top-end appliances. The second floor features two bedrooms and two baths, while the third floor is entirely dedicated to an extravagant master suite complete with lake views and a sumptuous marble bath with the finest fixtures. The fourth floor boasts two additional bedrooms, a stunning library with lake views, a fireplace and wet bar. At the very top, a roof deck offers lake views and at the bottom, a flexible lower level that can be used as a family or playroom. All new systems )elevator, HVAC, windows, doors, wiring, plumbing) made this home turnkey ready for the lucky buyer.

2131 N Kenmore Ave
Original list price: $2.47 million
Sold price: $2.4 million
2131-n-kenmore-aveThis home has a great Lincoln Park location that puts you just steps away from the best shopping and dining. The interior includes dramatic ceilings, custom moldings and state-of-the-art finishes that all culminate into a sophisticated aesthetic. An open living/dining room provides plenty of space to entertain, while the luxe eat-in kitchen has a butler’s pantry with wine fridge, large breakfast bar and custom stone flooring. A spacious great room includes custom-built storage and access to a bluestone terrace, garage deck and rooftop deck. The master suite is spectacular, with custom storage, fireplace, a private terrace, and a lavish bath. With six bedrooms, ample outdoor space and an attached two-car garage, this home is a rare find among Chicago homes for sale.

1839 N Burling St
Original list price: $2.695 million
Sold price: $2.385 million
1839-n-burling-stLocated on one of the most sought-after blocks in Lincoln Park, this transitional home opens to southern light and has all of the luxury bells and whistles throughout. The DeGiulo kitchen includes a Subzero fridge, two refrigerated beverage drawers, two dishwashers and a six-burner Wolf range with griddle. On the second level are four bedrooms, including a master suite with dual clostes and spa bath with steam shower, dual sinks, vanity and Jacuzzi tub. A penthouse family room has a wet bar, separate office and access to two rooftop decks with unbeatable city views. A long lot (131 feet) allows for a private backyard.

3657 N Greenview Ave
Original list price: $2.595 million
Sold price: $2.35 million
3657-n-greenview-aveThis huge Southport Corridor home is on a double corner lot (47 feet wide, compared to the standard 25 feet), making it an oasis within the city limits. Recent updates to the home include new windows, a new kitchen on the main level, a gut renovation to the master suite, a and new paint. The main level is fitted with charming pocket shutters, leaded glass windows, inlaid floors and a built-in hutch. This home is located in the Blaine School District, across the street from a playground and ideal for a buyer looking for character and outdoor space in the city.

To learn more about the homes that sold in October or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Real Estate Sales Were All About Chicago Luxury Homes in August

Chicago’s summer’s successful run in luxury home sales continued in August, fighting the slump that is often typical for this month. Not only was it not a “slow” month, but the ultra-luxury segment (homes sold for more than $2 million) had a great month, with 13 properties sold.

There were 49 total luxury homes sold in August, for a total sales volume of $82 million. The highest priced property to sell in August went for $3.391 million—not quite as high as the $8+ million sale we saw on Howe Street in July. What’s interesting about the homes that sold last month is the trends you can see among the most expensive homes—notably, extra-wide lot sizes (four out of the top five were on non-standard lots wider than 25 feet) and the fact that cash is still king among luxury buyers (three of the top five homes sold were purchased with cash).

Here is a more detailed look at the top five most expensive Chicago homes sold last month, in descending order:

image2121 N Dayton St
Original sale price: $3.45 million
Sold price: $3.391 million
Located steps from Armitage Avenue, this brand-new, 5,200 square foot home showcases the timeless design and meticulous workmanship Foster Design Build is known for. The elegance begins with radiant heated limestone steps that lead into a beautiful foyer. One the main floor is a formal living room with wood-burning fireplace, a dining room with coffered ceilings, a chef-grade, eat-in kitchen and a true mud room. The lavish master suite boasts a spa bath with soaking tub, enclosed water closet, steam and rain showers. Two ensuite bedrooms and laundry room are on the second floor, and the top floor (lit by a skylight!) features another bedroom, full bath and a den that opens onto a 35-foot lanai with an outdoor fireplace and mounted TV. The lower level features radiant heat, two bedrooms and an additional full bath. Other details include wiring for whole-home automation; oak floors throughout; poplar wood casings, moldings and trim; and Ann Sacks tile.

image1953 N Dayton St
Original list price: $3.595 million
Sold price: $3.313 million
On a double-sized lot on one of Lincoln Park’s most desirable blocks, this home has plenty to offer for the luxury buyer—and the one who indeed bought it paid cash. The home was recently renovated with the highest quality finishes, and boasts a number of envious features throughout, including high ceilings, stunning mill work, hardwood floors and three-panel custom doors. The gracious living room features a custom stone fireplace and a bay window that is just asking for a grand piano in it. A gourmet oak and white eat-in kitchen includes quartz countertops and Wolf and Subzero appliances. The family room opens up to an enormous backyard that makes this a perfect city oasis, complete with a lush Japanese zen garden and basketball court.

image3432 N Janssen Ave
Original list price:
$3.575 million
Sold price: $3.1 million
Custom designed on an extra-wide, 75-foot lot, this 4-bedroom single-family home is flooded with southern light. The open floor plan makes it ideal for entertaining, along with a large chef’s kitchen that includes an expansive island and built-in banquet. The master suite opens up to a balcony and includes two large walk-in closets and a fireplace. Other house features include heated floors in the kitchen, a heated back rest in the kitchen banquet, exterior heated walkways, a top-of-the-line security system and extensive landscaping work. There is also a four-car garage that includes a full gym above it. This home is located on a prime one-way street and is only a short walk to shops and restaurants. It’s also worth noting that this too, was a cash purchase for the lucky buyer.

image2049 W Dickens Avenue
Original list price:
$2.999 million
Sold price: $3.025 million
Yet another brand-new luxury home on an extra-wide lot—this one in Bucktown was sold to another cash buyer. Inside, you’ll find nearly 7,000 square feet of living space, with gracious room sizes, oversized doors and windows and quality craftsmanship throughout. The extra-large chef’s kitchen features restaurant-grade appliances, and oversized lighting with seating and plenty of storage. A great room has access to three terraces, anchored by a gorgeous marble fireplace. A huge master suite runs the width of he home and is on the same level as three additional ensuite bedrooms. The home’s lower level offers a recreational space, media room, optional wine cellar and a guest suite. And entertaining is as easy outdoors as it is in, with 1,300 square feet of alfresco space, including a heated patio with fireplace, a deck above the 3.5-car garage and a secluded terrace off of the living, dining and great room.

image3643 N Lakewood Ave
Original list price:
$2.799 million
Old price: $2.767 million
Another new construction property—this one from Bloomfield Development—built on a 30-foot, extra-wide lot, just a short walk from Southport Corridor. Two of the home’s signature features is a raised patio outside the family room and an attached breezeway to the garage. The custom, French-inspired limestone and brick façade is a only trumped by the beautiful interior, which includes handcrafted cabinetry, stained oak hardwood flooring, polished nickel hardware, Italian marble countertops and custom-designed tile. The kitchen includes Subzero and Wolf appliances and the bath, lower level and front entry boast radiant heat to combat Chicago’s winter chill.

I always encourage my clients and prospective buyers to review the previous month’s home sales to give them an idea of what types of properties are selling for what price. That way, they can compare recent sales to their own budget and wish lists and understand what they might be up against when they’re ready to purchase as well.

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