Chicago’s Luxury Home Sales Were Terrific in July, with a $8.3 Million Sale on Howe St

Luxury Chicago homes proved to still be on a tear with sales in July. The month saw 66 luxury ($1 million and up) Chicago homes sold, totaling $109 million in sales volume. Twelve of the high-end homes that sold were even over the $2 million mark, a price tag that is considered ultra-luxury for Chicago real estate.

The highest priced sale last month was a home on Howe Street, a block that has long been known for its “McMansions.” This home in particular was only on the market for 56 days, which reinforces the idea that prospective buyers who are on the fence should bite the bullet and make a purchase. Interest rates are low, but so is inventory, so the market is only going to get more competitive.

Howe Street and its neighboring blocks, Burling and Orchard, are among the most prestigious streets in all of Chicago. Their Lincoln Park location makes homes here ideal for families, putting them close to great schools, parks and other entertainment; and many residents love the neighborhood feel of this area even though it’s just a quick jaunt into downtown. I would be happy to give you a private tour of what makes this neighborhood truly special, and introduce you to other prestigious homes and buildings in the area.

Top Luxury Chicago Homes that Sold in July

The top five single-family properties to sell last month all pushed past a $2 million sale price. Here’s a closer look at the top homes that sold, starting with the most expensive:
1944 N Howe St
Original list price:
$8.6 million
Sold price: $8.3 million
A brand-new construction home in one of the most sought-after areas in Lincoln Park, this breathtaking home offers every imaginable space for gracious living. With 6-bedrooms and 6.3 baths, this home sits on an extra-wide, 42-foot lot, allowing for a whopping 10,500 square feet of interior space. There is also more than $3,500 square feet of outdoor space between open-air terraces, two outdoor fireplace areas and a penthouse skydeck with panoramic skyline views. The home boasts thoughtful design throughout, including a five-stop elevator, ample entertaining space and a seamless blend of indoor and outdoor living. The state-of-the-art finishes and gorgeous fixtures were all chosen with the most discerning eye for elegant and tasteful living.

1929 N Cleveland Ave
Original list price:
$3.899 million
Sold price: $3.825 million
This fabulous 6,400 square foot property is on one of the premier blocks in East Lincoln Park. Inside, the home is beautifully designed with a blend of transitional finishes, dramatic ceiling heights, designer window treatments, custom lighting, hardwood floors, and home automation with Sonos audio system. Five large bedrooms include a spacious master suite with dual closets and spa baths; there is also a den with en suite custom office, a penthouse-level rec room with wet bar, a gym and catering kitchen. The outdoor space has been thoughtfully designed to accommodate entertaining, with an outdoor kitchen, a garage top deck with pergola and a rooftop deck with skyline views.

1763 N Wilmot Avenue
Original list price:
$3.999 million
Sold price: $3.8 million
A new construction home from LG construction and development, featuring an exceptional design by Northworks Architects and Planners. This 6 bedroom, 6.3 bath home was built on a unique oversized lot at the end of a cul-de-sac, with a private gated alley, 3-car attached garage and massive yard. Inside, find generously sized bedrooms along with a stunning gourmet chef’s kitchen with Subzero, Miele and Wolf appliances, designer stone work, custom millwork and abundant light throughout.

2215 W McLean Ave
Original list price:
$2.899 million
Sold price: $2.75 million
This showstopper sold before the listing was even officially public, and it’s easy to see why. Designed by Studio Dwell Architects, this property has one several awards for its warm, modern design—which spans three lots in Bucktown. The home boasts expansive outdoor space that is paired with private indoor/outdoor living areas—a rarity in Chicago—plus a meditation courtyard and heated in-ground plunge pool. The interior features read like a who’s who of luxury living: Copat Italian cabinetry, integrated appliances by Miele, Wolf and Subzero, Lauzon engineered oak flooring, Lutron automated lights and window treatments. There is also a steam room and sauna, radiant flooring in the garage, lower level, office and master suite, separate HVAC zones, snow-melt system for walkways and sidewalks and a five-car attached garage.

2621 N Dayton St
Original list price:
$2.775 million
Sold price: $2.675 million
There aren’t many details on this new construction home, as it sold before the listing was completed—which means it must have had a lot to offer beyond its 6 bedrooms, 4.2 baths and limestone interior.

Chicago Real Estate Versus Other Major Cities

It’s important to note that what is considered ultra-luxury real estate in Chicago is far beyond what you might get in New York, San Francisco or London for the same price. A home like the one on Howe Street would easily cost 3 times that amount in those cities. Real estate in Chicago continues to be a good investment, especially since the stock market could become frothy in the near future.

Right now, I have a special offer for my clients: Receive $2,500 at closing for a home purchase of $500,000 or more. That is a nice influx of cash that can help cover moving expenses, décor updates, paint and a number of other things that come along with a new home. Visit my website for more details on the offer, and give me a call if you would like to discuss further.

For more information on purchasing real estate in Chicago, or for additional details on what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

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