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.
1722 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.
1849 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.
1720 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.
1928 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.
2017 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 email@example.com.