Luxury Single Family Sales for August Hit Records

Much like condominium sales, luxury single-family homes in Chicago sold at a record pace in August, topping $110 million in a summer month that often slows down the real estate scene. Luxury homes are those priced at $1 million or more, though August saw over 13 homes sell in excess of $2 million, with the most expensive selling for a whopping $7.4 million. Out of the top five most expensive homes sold, 3 of them topped the $4 million mark.

If you’re familiar with single-family homes in Chicago, it’s no surprise that three of the five homes were found in the Gold Coast while the other two were in Lincoln Park. The most expensive homes boast generous square footage, well over 5,000 square feet for each.

Here’s a closer look at the luxury single-family homes that sold in Chicago in August, starting with the most expensive:

n astor1518 N Astor St
Original list price: $9.995 million
Sold price: $7.4 million
The difference between the listing and sold price for this home shows that, despite a strong luxury market in Chicago, buyers are still negotiating the price they are willing to pay. This 7-bedroom beauty is on the fabled Astor Street, where homes are rarely available. A brick Georgian residence, this home sits on a double lot with extensive south-facing stone terraces, generous living space that includes separate staff quarters, a rooftop deck and ample storage.

e cedar21 E Cedar Street
Original list price: $5 million
Sold price: $4.83 million
Just built in 2010, this stunning single-family home sits on an extra-wide 30-foot lot, stretching 7,900 square feet on the interior. The ceiling heights range from 10 to 12 feet on each level. Inside, you’ll find custom walnut flooring, DeGiulio kitchen, a theater room, full master level and a unique penthouse level.

w huron460 W Huron St
Original list price: $4.95 million
Sold price: $4.4 million
When it comes to square footage, this Chicago home takes the cake for the month of August. The living space inside stretches over 10,300 square feet, plus an additional 4,500 square feet of deck space outside. In additional to the generous space, this home was made for entertaining, including a fabulous chef’s kitchen with high-end appliances, a elevator, au pair suite, huge walk-in closet, and a master suite that includes a steam shower, sauna and exercise room.

n mohawk1843 N Mohawk St
Original list price: $4.2 million
Sold price: $4.247 million
This brand-new home is a stunner in Lincoln Park, with all the bells and whistles you’d expect from luxury new construction today. A superb 6,500-square-foot floor plan with 6 bedrooms, refined finishes and huge family room, this home features a custom chef’s kitchen with commercial grade appliances and a built-in banquette. Because it’s a new construction property from the developer, this property also offered the buyer a chance to make additional customizations if desired.

n howe2041 N Howe St
Original list price: $3.999 million
Sold price: $3.8325 million
In Lincoln Park, this 6,200 square foot home in steps from Oz Park. The interior features high-end finishes like incredible millwork, plus an amazing chef’s kitchen, state-of-the-art home automation, a rec room on the lower level, wine cellar and elevator. The exterior showcases a gorgeous limestone façade and granite steps that lead to a warm welcome inside.

Chicago Home Sales Stronger than National Reports
The Wall St. Journal recently reported that U.S. home sales took a dive in August, so it’s especially interesting to see the opposite happening in Chicago for luxury homes and condo sales. Chicago’s luxury property sales have remained healthy, bucking national trends and staying strong month after month. Of course, the real estate market can vary all over the country, but Chicago—and the luxury market here in general—seems to be particularly unique.

To learn more about the Chicago homes sold in August 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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