Chicago Luxury Homes Closed in December Were on a Tear

Chicago luxury home sales hardly went on a winter break at the end of 2017. The month of December saw $107 million in total sales volume for homes sold for $1 million and up. And the ultra-luxury category showed healthy sales as well.

During December, there were 18 deals made for more than $2 million. And the top five single-family homes all topped $3 million in price.

Lincoln Park Still a Hot Spot for Luxury Buyers
Of those 18 $2 million-plus sales, two-thirds of them were found in Lincoln Park. And of the top five, three were in Lincoln Park. While this beloved neighborhood has always been sought after by luxury buyers, it’s been especially hot in recent months, especially when a new construction property becomes available.

Lincoln Park is such a favorite for a few reasons:

Location: Lincoln Park is literally in the heart of it all. A quick jaunt into downtown. A short walk to parks and outdoor spaces. Nearby shopping, restaurants, nightlife and theater. But, the neighborhood boasts a residential feel that could be hard to come by in more urban areas. So Lincoln Park packs all of the convenience of city living with the comfort of the ‘burbs.

Plenty to do: You can spend a day in itself in actual Lincoln Park, home of the zoo, conservatory, North Pond and much more. And Lincoln Park is full of distinct blocks of boutique shopping, local eateries and other hot spots. There is always something to do, and it’s likely just steps from your front door.

Real estate options: Whether you’re looking for a full-amenity condo, a single-family home or a property with architectural significance, you’re likely to find it in Lincoln Park. This architecture of residential real estate in this area ensures you’ll find a property that sets itself apart in the luxury market.

Top Five Sales All Topped $3 Million
You can see why winter didn’t steer away luxury buyers from everything Lincoln Park and other Chicago neighborhoods have to offer. Here’s a closer look at the top five most expensive luxury homes that sold in December, in descending order.

1502 N Dearborn Pkwy1502 N Dearborn Pkwy
Original list price: $3.999 million
Sold price: $3.8 million
December’s top sale was a new construction property, which is always highly coveted with the luxury buyer. This 4-story, 5,200 square foot 3 bedroom includes features like a limestone façade, a top-floor master suite with double walk-in closets and a sky-lit level that brings in tons of sunlight. The extra-wide lot allows for plenty of green grass space between the house and garage.

1942 N Dayton St1942 N Dayton St
Original list price: $3.799 million
Sold price: $3.7 million
An extra-wide lot allows this Lincoln Park home to stretch across a generous 6,000 square feet, with 6 bedrooms and 6.1 baths. Features include a gracious entry foyer with a custom staircase that opens to spacious living and dining rooms; a huge great room with built-ins adjoining the kitchen area; and a large master suite with fireplace, dual walk-in closets, and a beautiful bath with steam shower. The showstopper of the home is the Christopher Peacock kitchen, featuring a walnut island, 48-inch Wolf cooktop, double oven and built-in desk area. You’ll also find a temperature controlled wine cellar, gigantic family/rec room with wet bar, an elevator to all levels and unbelievable outdoor space that includes a covered terrace, deck with pergola and planters, sunken stone patio and multiple rooftop decks. The home also has an attached 3-car garage—a must for Chicago winters.

2042 N Fremont St2042 N Fremont St
Original list price: $3.599 million
Sold price: $3.5 million
Located on a premier Lincoln Park block, this serene and understated 6 bedroom, 5.1 bath home has a highly functional layout across its 5,200 square feet. The home also has more than 1,500 square feet of outdoor space that includes a covered Loggia with outdoor fireplace on the penthouse level. The kitchen features custom slab-front cabinets, a giant walk-in pantry and a huge eat-at island. The great room opens up to a generous, stone-paved terrace leading to a garage roof deck. The lower-level family room includes oversized windows and a built-in wet bar with two additional bedrooms.

1804 N Leavitt St1804 N Leavitt St
Original list price: $4 million
Sold price: $3.4 million
You’ll see from the sales price that this home sold for a whopping $600,000 off of the list price—likely due to the buyer purchasing the home for case. Spanning 8,600 square feet, this 5 bedroom, 3.2 bath home is an architecturally exciting showpiece. Designed Miller Hull Partnership with heavy exposed timber and brick, the interior boasts soaring ceilings, and open central atrium that floods the home with light, a master suite on the top floor and a roof terrace. The kitchen’s two-story window wall opens to a full side yard with extensive landscaping. Other features include an elevator, 1,200 bottle wine cellar and an acoustically sealed theater room.

09061607_21489 N North Park Ave
Original list price: $3.1 million
Sold price: $3,061,310
This 6,000 square foot new construction home sold as quickly as it was listed. Touted as one of the most spectacular homes in the city presented by Urbane Home, this solid-brick beauty sits on wide, quiet, tree-lined street in the heart of Old Town. The location puts it just steps from popular shops, restaurants, transportation, parks and the lake. Inside, you’ll find artisan-caliber finishes in the professionally appointed interior that includes 4 living spaces. Outdoors, enjoy multiple outdoor spaces with skyline views. This home has luxury, comfort and convenience rolled into one, with a professional-grade kitchen, radiant heat in baths and exterior and electric car charging. Since this home was still in the final phase of development, the buyer even had time to make some customizations of their own from the builder.

Seeing what sold in the previous month is a great way for buyers to get a gauge on the market if they are looking to buy. If you’re looking for new construction or a particular feature, getting familiar with the recent sales can give you insight into what you might expect to pay for a property of the same stature.

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

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