Chicago Luxury Most Expensive Homes Sold Quickly In June

Looking back at the Chicago luxury real estate market in June, there seemed to be a real need for speed. The top homes were off the market nearly as quickly as they were on—two of the most expensive properties sold within just 10 days of being on the market.

So what has buyers closing deals so quickly? It’s easy to see a few usual suspects among the features of recently sold luxury homes: wide lots, ample square footage and great neighborhoods. With a standard lot size of 25 ft x 125 feet, an extra-wide lot allows for mega square footage within a home, and many buyers want that extra space.
Lincoln Park also continues to be a neighborhood of choice for luxury buyers. Sought after for its quick access to the loop, easy bus transportation to Michigan Avenue and its host of interesting, diverse architecture, Lincoln Park has been a longtime favorite among both long-time Chicagoans and those relocating to the city for the first time.

Overall, June saw just over $138 million in total sales volume for Chicago luxury homes. The highest sale price was a whopping $4.9 million (more on that in a moment), and 17 homes sold for more than $2 million, suggesting that ultra luxury may be the new luxury.
With that, let’s take a look at the five highest-priced sales from last month, starting with the most expensive:

544WDickensAve544 W Dickens Ave
Original list price: $5.1 million
Sold price: $4.9 million
This month’s most expensive home sale has one feature we see more often than not among top home sales: an extra-wide lot. Situated on a 31-square foot lot (compared to the typical 25 feet), this home boasts 7,000 square feet of living space behind its intricate limestone façade. Soaring ceiling heights allow for grand scaled rooms and allow for tremendous natural light. The enormous living room is perfect for entertaining, with a kitchen and great room that opens up to an 850-square foot terrace. Additional details include wide-plank hardwood flooring on the main level, a fireplace in the master suite, radiant-heated entry and a library/office with a wet bar and fireplace. And the location can’t be beat: W Dickens is an upscale block in Lincoln Park, within walking distance to Parker, Lincoln Elementary, Lincoln High School and public transportation.

2224NDaytonSt2224 N Dayton St
Original list price: $2.65 million
Sold price: $4.8 million
Just steps from Oz Park and the bustle of Halsted and Armitage, this property is a renovated four-story home on one of the most beautiful blocks in Lincoln Park. The home spans 5,900 square feet with a traditional layout and open floor plan that includes a top-floor penthouse room and a lower level entertaining space.

1622NWolcottAve1622 N Wolcott Ave
Original list price: $3.995 million
Sold price: $3.75 million
An architecturally exciting contemporary home on a double lot, this Bucktown property is 7,000 square feet filled with the highest level of design and finishes. Inside, you’ll find 11-foot ceilings, 5-inch oak floors, floor-to-ceiling windows, and an ideal open floor plan. The chef’s kitchen includes Miele and Wolf appliances, Ernestomeda cabinetry and a huge cantilevered white quartz waterfall island. The spa-like master bath includes heated marble floors, custom walk-in closets, Ann Sacks tiles and an Antonia Lupi design.

455WDemingPl455 W Deming Pl
Original list price: $3.999 million
Sold price: $3.75 million
This custom built home in Lincoln Park sits on an extra-wide lot, allowing for a generous 5,200 square feet of living space. Filled with natural light, this home’s features include a 4-stop passenger elevator, high ceilings, commercial-grade appliances, a full-floor master suite, spa-like baths and more. And while it’s not uncommon for a luxury home to include an extravagant master suite, this master suite takes up an entire floor, and includes an over-sized steam shower and heated flooring. Residents of W Deming cal also enjoy full access to the amenities at 2550 Lakeview.

850WWillowSt850 W Willow St
Original list price: $3.375 million
Sold price: $3.3 million
Spanning across an extra-wide, 50 x 100 foot lot, this home has been renovated for modern living, with a new floor plan from architect firm Jean Du Fresne and design firm Jessica LaGrange. It’s 5,000 square feet boast a number of luxury features to make this property an oasis in the city: in-ground, heated saltwater pool, professionally landscaped backyard,, master suite with sensational spa bath, state-of-the-art technology throughout and more. The chef’s kitchen includes high-end appliances with Calcatta white marble countertops, a walk-in pantry and a large center island. Plus, it’s Lincoln Park location puts you right in the center of everything, from the comforts of a residential neighborhood to the activities of an urban sprawl.

Each month I recap the previous month’s sales for Chicago condos and single-family homes. For the luxury buyer, it’s important to have a gauge on the various features you might find in high-end properties and what price tag comes with them. That way when you start on your own home search, you can have an idea of what to expect and prioritize what “must-haves” will be in your future home.

For more information on the homes that sold last month, or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Chicago July Luxury Condo Sales Are Terrific

The summer continues to soar in the Chicago luxury condo market. In July, there were 50 sales of luxury condominiums—those sold for $1 million or higher—for a total of $83 million in sales volume. Of those 50 sales, 10 of them were sold for more than $2 million, showing that the “ultra-luxury” market is alive and well.

If you’re searching for a Chicago luxury condo, looking at the prior month’s sales is a great place to start. I can send you the top 25 properties via email  that sold last month, along with photos and details, to give you a bird’s eye view of condos that are selling and let you compare square footage and price to your own budget. Just email me with your name and email address and I will send that to you right away.

Staying in the loop of recent Chicago real estate sales will only work in your favor as a future buyer. You’ll have an idea of property values and available amenities and be able to use that to construct your own real estate wish list and evaluate properties during your search.

With that, here’s a detailed look at the top five Chicago luxury condos that sold last month, in descending order:

209 E Lake Shore Dr209 E Lake Shore Dr., Unit 7E
Original list price: $4.995 million
Sold price: $4.5 million
The most expensive sale last month was this 5,900-square foot co-op on the coveted Lake Shore Drive. Renovated by top Chicago architecture and design firm Marvin Herman & Associates, this 3-bedroom unit is thoughtful and meticulous down to every detail. A stately living room and dining room share a paneled library and views of the lake and city below. Other stunning rooms include a custom kitchen and breakfast room, a master suite with attached sitting room, his and her baths and dressing rooms; and an Italian walnut paneled media room.

Palmolive Building in Chicago159 E Walton Pl., Unit 19A
Original list price: $4.9 million
Sold price: $4.4 million
One of the most iconic condo buildings in Chicago: The Palmolive. This spectacular 3 bedroom spans a whopping 4,700 square feet on the 19th floor, with unobstructed views of Lake Michigan and Michigan Avenue to boot. Inside, you’ll find exquisite attention to detail, from the hardwood floors to the custom office to the eat-in area that overlooks the lake. Other features include a gracious formal dining room, spacious kitchen with top-of-the-line appliances, a grand master suite with sitting room, luxe bath and whirlpool tub and 2 parking spots.

The Elysian Residences11 E Walton St., Unit 3001
Original list price: $3.75 million
List price: $3.75 million
This 4,000 square foot 3-bedroom in the Waldorf Astoria is perfect for both everyday living and formal entertaining. The grandly scaled living room offers panoramic views and opens up into a dining room and terrace. The master suite includes walk-in closet, an office/study and another private terrace. Residents of the Waldorf Astoria can also enjoy the 5-star amenities and services from the adjacent Waldorf Astoria Hotel.

lp-25502550 N Lakeview Ave, Unit S32-02
Original list price: $3.499 million
Sold price: $3.1 million
This building is certainly no stranger to our tops sales lists each month. It’s been one of the most popular addresses among luxury buyers seeking new construction in Chicago, as 2550 Lincoln Park is one of the newer projects in the city. This 32nd-floor 3-bedroom features spectacular lake, city and park views, plus 2 covered terraces, a fantastic floor plan, large gourmet chef’s kitchen and a luxurious master suite. Other details include 10.9-foot ceilings, crown moldings and millwork and a number of high-end finishes and appliances.

445445 E North Water St, Unit 2205
Original list price: $3.195 million
Sold price: $2.730 million
The owner of this 3,983 square foot condominium spent $1 million in upgrades on this stunning, custom 3-bedroom unity with exquisite detail and workmanship. High on the 22nd floor, the unit boasts 180-degree north, south and east views of the river, lake and city. Features include two balconies, a study, separate laundry room, lavish master suite with walk-in closet and a spectacular chef’s kitchen. The full-amenity building offers a 24-hour door person, indoor pool, sundeck and exercise facilities.

This is just a sample of the recent top sales to provide a high-level look at the current market. For more details on any of these properties or to see what is on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Chicago Summer Guide: June 2009 Festivals

Let’s face it, Chicagoans live for the summer. We make the most of the warm weather. When looking for a Chicago home or Chicago condo, be sure to check out the summer festivities so you’re only a step away from the action. Check out the map/guide below so you know what to expect as you’re looking for Chicago real estate.

*Click on a blue dot to find out about that festival: dates, location and Web site information


View Chicago Festivals – June 2009 in a larger map

Chicago Luxury Neighborhood Festivals:

Lincoln Park Festivals

  • Chalk Festival, June 6, 2009
  • St. Michael’s Celebration, June 13-15, 2009
  • St. Josaphat Summerfest, June 19-21, 2009
  • Chicago Summerfest in Lincoln Park, June 20-21, 2009

Lake View Festivals

  • Halsted Tastes Better, June 13, 2009
  • Belmont Arts & Music Festival, June 20-21, 2009
  • Chicago Pride Fest, June 26-27, 2009
  • Gay and Lesbian Pride Parade, June 28, 2009
  • Girl Blast, June 28, 2009

Loop Festivals

  • Taste of Chicago, June 26-July 5, 2009
  • Close 2 Smooth Jazz, June 19-21, 2009
  • Chicago Blues Festival, June 12-14, 2009
  • Grant Park Music Festival, June-August, 2009

Old Town Festivals

  • Wells Street Art Festival, June 13-14, 2009
  • Old Town Art Fair, June 13-14, 2009

South Loop Festivals

  • Printers Row Lit Fest, June 6-7, 2009
  • Chicago SummerDance, June 11-August 23, 2009

West Loop Festivals

  • Taste of Randolph St., June 19-21, 2009

Other Neighborhood Festivals:

Back of the Yards Festivals

  • Fiesta Back of the Yards, June 12-14, 2009

Heart of Chicago Festivals

  • Festa Past Vino, June 19-21, 2009

Hyde Park Festivals

  • Community Art Fair, June 6-7, 2009
  • 57th Street Art Fair, June 6-7, 2009

Humboldt Park Festivals

  • Fiesta Puertorriquenas, June 15-21, 2009

North Side Festivals

  • Andersonville Midsommar Fest, June 13-14, 2009
  • Artist of the Wall Festival, June 20, 2009
  • Back Lot Bash, June 27-28, 2009