Sellers are regaining an edge in some top Chicago neighborhoods, thanks to properties with coveted features that help certain homes for sale differentiate themselves from the pack.
More and more, I’m seeing a trend of homes with certain key features move quickly on the market–Chicago’s Lincoln Park is a great example of where this is happening frequently, as this neighborhood is coveted for its location and the real estate that it has to offer.
So what are these key features? The characteristics of a Chicago home for sale that are really giving sellers an edge include:
Amazing streets: Certain blocks in Lincoln Park, Lakeview and other neighborhoods come with a prestige all their own. Homes on these streets quickly pique the interest of luxury buyers and have been competitive on the market.
Larger lot sizes: Buyers are on the hunt for space, and larger-than-normal lot sizes obviously allow for more square footage and expansive outdoor areas.
Larger rooms: With more space overall means bigger rooms inside, from generously sized bedrooms to large kitchens and great rooms, buyers want homes that offer comfortable living space for everyone in their family.
Unique architecture: Whether it’s a home built by a noteworthy Chicago architect or was built to have some sort of custom design, those properties that have something unique and interesting about the design are highly desired by luxury buyers.
In other words, homes that can differentiate themselves from a run-of-the-mill luxury home are out there, but they won’t be on the market long.
Luxury Chicago Real Estate is Selling
Despite ever-changing news about the real estate market as a whole, the luxury market in Chicago has held up, and is even becoming quite competitive. Neighborhoods with the highest median priced homes include Lincoln Park, Lakeview, Old Town and Bucktown/Wicker Park, and those prices have held rather steady over the last year. In June, a Lincoln Park property on North Orchard (one of the neighborhood’s best blocks) sold for $5.3 million–in cash.
For sellers, having a Chicago home for sale that can stand out from the rest is certainly advantageous. And buyers are making it clear just what they want in a new home.