Top Sales Closed in January: 3 Vintage Chicago Luxury Masterpieces, 2 Luxury New Construction

Looking at the luxury Chicago homes that sold and closed, the month of January was highly unusual. The top five sales were each extremely unique, including two brand-new construction properties along with three vintage architectural masterpieces which sold for major, major discounts. The three vintage homes are truly special properties—but for real estate like this, there is often a limited pool of buyers, and would require a real investment in artistry to bring these gems back to their original grandeur.

All in all, January saw $77 million in total sales volume of Chicago luxury homes, with nine of those homes selling for more than $2 million. There’s lots to cover, so let’s jump right in to the top five single-family homes that sold in January, starting with the most expensive:

2466 N Lakeview Ave2466 N Lakeview Ave
Original list price: $7.15 million
Sold price: $4.65 million
This is Chicago’s historic “Wrigley Mansion,” a magnificent estate that was designed by famed architect Richard Schmidt and built in 1896. It spans more than 13,000 square feet, across a main house and additional structures on the property. The main house features 9 bedrooms, 6.3 baths, a grand foyer, a solarium, butler’s pantry, wine bar, walk-in vault, game rooms, staff quarters, a mahogany paneled library, sprawling master suite and a top-floor ball room with unobstructed views of Lincoln Park and Lake Michigan. It also includes a 2,000 square foot coach house with ground-floor storage and garage bays with two residential units above. Special details include mahogany cherry and bird’s eye maple woods throughout, marble fireplaces and fixtures, intricate mosaic tile, ornate hardware, gold and silver leaf finishes and coffered ceilings.

You’ll notice this home sold for more than $2.5 million less than the asking price—that’s quite a significant discount. This home was sold as a foreclosure, and while it holds a ton of history, was in need of some significant rehab, which likely helped the cash buyer do some major negotiating on the list price.

1440 N Dearborn Pkwy1440 N Dearborn Pkwy
Original list price: $6.45 million
Sold price: $4.625 million
This vintage property also sold for a major discount—nearly $2 million under asking price. The buyer paid cash, which likely gave him or her a leg up in negotiating the final price. The home is in the Gold Coast’s historic district near Oak Street Beach and the Magnificent Mile. Its style is a total stand-out, a gilded age mansion designed by James Egan with a blend of fresh Romanesque style architecture modernized for today’s buyer. The vintage charm lends itself to exceptional details, such as an elegant Tiffany stained glass oval skylight on the top level. But the rest of the home has been completely renovated across its four levels, five bedrooms and 5.2 baths, with a spacious open floor plan made for entertaining, a top-of-the-line gourmet kitchen with butler’s pantry, dining room and formal living room, plus a finished lower level with guest suite, exercise room and two wine cellars. Outside, the 150-foot-deep lot allows for plenty of space for a private, landscaped backyard paved with limestone.

1831 N Fremont St1831 N Fremont St
Original list price: $3.495 million
Sold price: $3.495 million
This is a brand-new brick and limestone home on the tree-lined Fremont Street in Lincoln Park. This new home offers more than 5,200 square feet of luxurious living space that is bright and airy, thanks to oversized windows throughout. Design details inside include custom cabinetry and millwork, professionally designed natural stone baths, a luxe master bath with oversized steam shower, separate vanities and private water closet. Outside, you’ll find a tremendous outdoor space including a yard, rear patio, garage deck and secluded rooftop deck with covered patio and fireplace. Plus, the home includes a radiant-heated lower level, front steps and rear walkway along with an oversized two-car brick garage.

1248 N Astor St1248 N Astor St
Original list price: $3.65 million
Sold price: $3.15 million
Built in 1886 on a 29-foot lot, this architectural gem in the Gold Coast is located on one of the city’s most prestigious blocks. The three-story limestone home spans 8,000 square feet with six bedrooms and 6.1 baths. Period details brings a certain stately dignity to this home, such as a wide foyer with custom millwork, a restored original staircase, a beautifully restored fireplace and a wood-paneled library overlooking Goudy Park. The floorplan offers generous room sizes, a grand living room and dining room off the kitchen, plus high ceilings and hardwood floors throughout. You’ll even find the most coveted feature of any Chicago property: spectacular lake and city views.

This home also sold for well below the asking price—a whopping half million dollars.

2022 W Moffat St2022 W Moffat St
Original list price: $2.395 million
Sold price: $2.33 million
The final top sale from January was another brand-new build, this one made to be a 4,800 square foot contemporary dream home. The home was built on a hard-to-find 36-foot lot, which allows for an incredible floor plan with huge windows in the living and dining area that bring in southern light all day. A massive, open-concept living and kitchen area opens directly to a 30-foot long terrace and enormous roofdeck for the best in indoor-outdoor living. Upstairs, the second floor boasts four bedrooms and three baths, plus laundry; the master suite includes a sumptuous spa-like bath and massive walk-in closet, and on the lower level you’ll find a rec area complete with wet bar. Features aside, the location of this home can’t be beat, as it’s right off of Damen in Bucktown and within walking distance to parks, restaurants and shopping.

The top sales for January saw a mix of vintage stunners and contemporary new builds. This is one of my favorite things about Chicago real estate—if you’re a luxury buyer, you can find something that fits your taste, whether that’s old-world charm or new-age modern or something in between.

To learn more about the top sales closed in Chicago last month, or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

November Luxury Chicago Home Sales Slowed Slightly

While luxury Chicago condo sales saw a strong November, single-family homes seemed to experience the seasonal slowdown we often see this time of year. But that doesn’t mean there weren’t some noteworthy sales: The highest-price property traded for $4.2 million, and the top five sales were all around $2 million or higher.

The top five most expensive homes that sold each have their own list of unique and special features, from square footage, to location, lot size, or other features. This is the key in luxury real estate today. Upscale properties must have a healthy number of factors that differentiate it from what else is on the market to attract luxury buyers—and this month’s homes certainly did that.
Total luxury homes sales in Chicago totaled $56 million for November. Let’s take a closer look at the details and characteristics that set these apart with a recap of the top homes sold in descending order.

456-w-huron456 W Huron St
Original list price: $4.6 million
Sold price: $4.2 million
November’s most expensive single-family home sale also offered the most square footage: a whopping 10,000 across 6 bedrooms and 4.3 baths. Located on a quiet, tree-lined street in River North, this stunning home showcases quality construction and immaculate attention to detail. The space in an entertainer’s dream, equipped with a 750-bottle wine cellar, recreation room with full bar, elevator, custom staircase and 3-car attached garage. In addition to the generous interior, there are also three enormous outdoor spaces. The River North location offers easy access to the highway and is a short walk to shops, dining and all of the neighborhood’s offerings.

457-W-Deming-Pl457 W Deming Pl
Original list price: $3.795 million
Sold price: $3.625 million
This extra-wide, custom single-family home spared no expense through a long list of upgrades, including a first-floor marble foyer, elevator, high ceilings, an attached two-car heated garage, and hardwood floors throughout. The sunlit building boasts three levels, including a second-floor maginircenty living room with custom built-ins and wood-burning fireplace, plus a deluxe gourmet, eat-in kitchen. The top floor master suite includes an office/sitting room, massive walk-in closet with island, Calcutta master bath and oversized separate steam shower. Outdoors, you’ll find three private spaces with a one-of-a-kind, 900-square foot private side deck. And the new owners can enjoy all of the luxury amenities at the coveted 2550 Lakeview building.

214-W-Erie-St214 W Erie St
Original list price: $3.25 million
Sold price: $2.69 million
This is an ultra-unique property in River North—the distinct and recognizable Flair House, an 1883 masterpiece that formerly served as the office of Flair Communications. With 7,000 square feet, this home was ready to be created into a home or office across its 7,000 square feet.

3738-N-Lakewood-Ave3738 N Lakewood Ave
Original list price: $2.395 million
Sold price: $2.25 million
Located in the Southport Corridor (and in the coveted Blaine school distict!), this custom Greystone spans 5,360 square feet, with 5 bedrooms and 5.2 baths. Features include a commercial-grade, eat-in chef’s kitchen with luxury appliances, Amish custom cabinetry, oversized quartzite tile, a walk-in pantry, Butler’s pantry with full-size SubZero wine fridge. The expansive floorplan includes a sun-drenched family room with fireplace and coffered ceilings, while an incredible master suite boasts his-and-hers walk-in closets, gas fireplace, wet bar, marble spa bath, radiant heat and separate steam shower. Outdoors, there is a new limestone porch and walk-out balcony as well as a rooftop deck.

315-Wisconsin-St315 W Wisconsin St
Original list price: $2.05 million
Sold price: $1.925 million
A historic row home in the heart of Old Town, this 3 bedroom, 3.1. bath home is in an ideal location: steps from Lincoln Park and Green City market, buses to downtown, restaurants and shopping, plus within the Lincoln Elementary and Lincoln Park High School district. The home has a classic Chicago façade that has been completely rebuilt on the 4,500 square foot interior. You’ll find four levels of bright, luxurious living and entertaining space with tall ceilings and an unusually wide floorplan. A full-floor master suite includes a club-style family room with projection TV, paneled study, attractive millwork and built-ins. Four private outdoor areas include a roof deck with skyline views.

It will be in interesting to see how the end of the year shakes out for Chicago luxury sales and what trends will develop in early 2018. It’s clear that the differentiation factor is huge for the luxury buyer, and many Chicago properties are delivering on that need.

For more of November’s Chicago luxury sales or to talk about buying in 2018, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Chicago Luxury Buyers Get Super Deals in January 2017

Despite the inevitable winter slump, sales of luxury real estate in Chicago were decent in January. The month saw 35 single-family luxury homes sold, totaling $57 million in sales volume.

The interesting thing about the homes that sold in January—particularly among the top five—is the deals that the buyers were able to secure despite the high price tag of these ultra-luxury homes. The top properties sold ranges from $2.3 million all the way up to $7.2 million. But you’ll see in the details below that many of those “sold” prices fell well below the list price.

As I recommend to all of my luxury buyers, getting an excellent deal is often about timing. Purchasing between mid-November and the end of February when the weather is at its worst is an ideal time for a buyer. There aren’t too many out there in the mood to look for real estate, so competition is scarce. And sellers are fearful that their home may sit on the market through all of those chilly months, making them more likely to settle on a deal that favors the buyer. The January sales are especially impressive considering that inventory remains low in the Chicago luxury real estate market.

Here’s a closer look at the single-family luxury homes that sold in January, in descending order:

542-w-grant-pl542 W Grant Pl
Original list price:
$8.5 million
Sold price: $7.2 million
This is an absolute gem of a Chicago home—so much so that it was featured in Architectural Digest. Having undergone a custom renovation in 2012, this 9,200 square foot property boasts an incredible floorplan that would normally require a much larger lot if not for its thoughtful design. The home sits on all four property lines of a 48 x 125 square foot lot. Features include mahogany floors, heated terrazzo floors, steel and glass staircase, Bulthaup kitchen and beautiful built-in cabinets. And that isn’t a typo—the lucky buyer of this home was able to get this home for a whopping $1.3 million less than the asking price.

1805-n-sedgwick1805 N Sedgwick St
Original list price: $3.599 million
Sold price: $3.25 million
This incredible home is all new construction in a vintage shell, right in the heart of Old Town and within walking distance of everything this beloved neighborhood has to offer. With 6 bedrooms, 6.1 baths, this home underwent a complete five-star renovation to include every modern amenity imaginable: an enormous custom eat-in kitchen; the highest-end professional grade appliances; a second level master suite with separate den, private bath and fireplace; an elevator to each level, including roof; and a thoughtfully designed third floor layout with three large bedrooms flooded with natural light. A couch house above the two-car garage and spacious rear yard offer even more hard-to-find space.

1428-w-bertau1428 W Berteau Ave
Original list price: $2.7 million
Sold price: $2.6 million
This new construction home sold quickly to a cash buyer, so there weren’t many details about it available. The Lakeview 6 bedroom, 4.2 bath home was just completed when a buyer was able to snap it up for $100k off of the original list price.

419-w-oakdale419 W Oakdale Ave
Original list price: $2.595 million
Sold price: $2.39 million
This is a fully renovated and restored brownstone in coveted East Lakeview—just two blocks from the lake and two blocks from the neighborhood’s retail shops. The extra-wide, extra-deep lot allows for 6,800 square feet of living space, plus a separate 2 bedroom, 1.5 bath apartment on the ground floor PLUS a 2 bedroom, 1.5 bath coach house on a large rear lot. The main house features six large bedrooms, plus a full-size sitting room, full dining room with space for 18, a full professional kitchen with three ovens, pantry prep area and oversized island for six. The second floor has a gracious master suite with sitting room and fireplace, large walk-in closets and luxe master bath.

2621-n-mildred2621 N Mildred Ave
Original list price: $2.599 million
Sold price: $2,344,500
This luxury new construction home comes with a long list of luxury features and details: Lots of natural light, herringbone detailed oak flooring, elegant molding details, two roof decks, three gas fireplaces, 11-foot ceilings on main level, and smart home technology which includes Sonos speakers, sprinklers and multiple security cameras with integrated systems. The 7-bedroom home spans 5,600 square feet, with four bedrooms on the second level, two on the lower level and the seventh on the third floor with a media/entertaining space. A stunning kitchen includes an oversized Calcutta quartz island, breakfast nook, Thermador range and refrigerator. The lower level is set up for a home theatre and rec room, with 9.5 ceilings, radiant heat, full bar and built-in wine storage. The master bath includes a huge steam shower, two reclining benches, split vanities, a freestanding tub and radiant floors.

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

Large Lots, New Construction Topped Chicago Luxury Home Sales in December

Holiday gifts weren’t the only new items being shopped in December—brand-new homes were also at the top of the list for the month’s real estate sales.

December was all about new construction single-family homes, and in particular, large new construction homes. Each of the top five homes sold offered incredible square footage and amazing quality for the off-season luxury buyer, who won’t settle for much less when it comes to a home purchase. Today’s high-end buyers aren’t first-time buyers, and are savvy to what’s current in design and in real estate. Therefore, they want the newest, the largest, and the most stunning properties on the market and will snap up homes that offer those key tenets.

With that, let’s take a more detailed look at what drove buyers to close a deal before the end of the year. Here are the top five most expensive single-family Chicago homes to sell last month, in descending order:

2129 N Kenmore Ave2129 N Kenmore Ave
Original list price:
$4.4 million
Sold price: $4.4 million
The most expensive of several new construction sales last month, this sophisticated residence was built on an extra-wide lot at the former site of DePaul University Theater School. The highly functional, 7,000 square foot layout includes a four-stop elevator, a great room that opens to a rear deck and a kitchen with two huge islands, butler’s pantry and built-in banquette seating. Outside are two decks, one above the garage and another on the penthouse level with an outdoor fireplace.

4122 N Greenview Ave4122 N Greenview Ave
Original list price: $3.999 million
Sold price: $3.8 million
A crown jewel of Graceland West, this one on a huge 41-foot by 161-foot lot, space that allows for a generous 7,169 square feet of living space. Designed by noted architecture firm Sullivan, Goulette & Wilson, this custom home boasts six bedrooms and every conceivable amenity indoors and out. It starts with the elegant exterior, which was built in massive rubble stone, cedar shingles and limestone in a stately palette. As for the interior, a dramatic, 13-foot barrel vault ceiling and expansive windows grace the kitchen and great room, while an enormous lower level includes a separate media room, bar and wine cellar, and two additional bedrooms. Outdoors, there is more than 2,500 square feet of space that includes a sprinkler system, outdoor fireplace and heated walkways. The home’s automation system is state-of-the-art as well.

1503 N North Park Ave1503 N North Park Ave
Original list price: $2.999 million
Sold price: $2.9 million
Located in Old Town near the beach, this absolute stunning new construction property was built and designed with meticulous attention to detail. The result is a one-of-a-kind home with five bedrooms, 5.2 baths and a long list of luxury features: a custom chef’s kitchen with high-end appliances; a luxurious master suite with spa-like master bath; a lower-level rec room with wet bar, wine cellar and sauna; three indoor and two outdoor fireplaces; and a heated driveway.

39 E Elm St39 E Elm St
Original list price: $2.85 million
Sold price: $2.8 million
A four bedroom, 3.1 bath renovated home in the Gold Coast, this property sold before the listing sheet even made it off the printer. This renovation resulted in a number of covetable, luxury features, including a Christopher Peacock kitchen and built-ins, newly renovated baths, a redesigned staircase, designer lighting and wallpaper, custom closets and much more. Infrastructure improvements also made this vintage beauty ready for modern-day living, such as a flood control system on the lower level, new roof, new HVAC, heated bath floors and new copper downspouts.

539 W Belden Ave539 W Belden Ave
Original list price: $2.795 million
Sold price: $2.71 million
This brand new renovation was completed by a renowned developer, in one of the most sought-after areas in East Lincoln Park. This fantastic location is near Lincoln Park, Latin schools, several parks, Lake Michigan and the zoo. The home itself was designed to thrill the most discriminating of buyers, with the finest finishes throughout and 5,000 smartly designed square feet spanning over a huge main level, large living and dining rooms and six bedrooms. The upscale kitchen includes an eat-in space, butler’s pantry and adjacent great room, while the luxurious master suite boasts a spa-quality bath and enviable closet space. A penthouse level addition includes a north-facing deck, bonus entertaining space and additional bedroom/bath. A lower level with a private entrance has radiant heat, two guest bedrooms, a full bath and large recreational space.

For more information on Chicago single-family 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.

October Luxury Home Sales in Chicago Show It’s a Buyer’s Market

They say the real estate market can change on a dime, and October’s luxury home sales in Chicago are certainly proof of that. Looking at the top sales for the month, it’s clear that many of the deals were made in favor of the buyer.

I’ve always encouraged buyers to get serious about their home search in the fall months, as the best time to purchase luxury real estate and obtain a real “deal” usually begins in mid-October and continues through the end of the year.

In the case of October’s Chicago luxury home sales, the list price versus the sold price shows some considerable discounting on these properties, showing that the buyers were in a good place to negotiate with motivated sellers who likely want to offload their properties before the end of the year.

Buyers Looking for Size, Outdoor Space in Chicago Luxury Homes

Another common denominator we can see among the top home sales in October is lot size. Three out of the top five homes sold were on lots larger than the standard 25 x 125 feet.

When it comes to luxury real estate, the lot size alone can tell us a lot. It typically means a more spacious interior with larger rooms, as well as big backyards or ample outdoor space. That’s why a large lot has become the standard that upper-bracket buyers are looking for, especially those coming from cities like New York and San Francisco and looking to maximize the space they get for their dollars.

In total, October saw 41 luxury single-family homes sold, for a total sales volume of $61 million. Let’s take a closer look at the five most expensive:

2122 N Seminary Ave
Original list price: $3.495 million
Sold price: $3.195 million

2122-n-seminary-aveSpanning 5,850 square feet, this stunning home was built to meet the highest standards. Some of the luxurious highlights include a handsome carved Indiana limestone façade, unusually tall ceilings, an extra-wide interior, solid walnut doors, substantial molding and trim, a custom elliptical staircase and three fireplaces. The interior décor comes from renowned designer and architect Joan Crag to create a comfortable, sophisticated aesthetic that is perfect for family living and entertaining. On the main level, you’ll find an English-style custom kitchen with a large island, built-in banquette and a pantry closet. Two large decks off of the family room as well as multiple rooftop decks provide plenty of room to enjoy Chicago’s summer weather. On the lower level, a recreation and media room offer even more entertaining space.

1302 N Ritchie Ct
Original list price: $2.795 million
Sold price: $2.55 million

1302-n-ritchie-ctLocated in the heart of the Gold Coast, this elegant Potter Palmer rowhouse has been gut renovated to ensure no detail or expense was spared in creating a timeless property made for modern living. On the first floor, find soaring ceiling heights, fireplaces in living and dining rooms, a custom kitchen with Italian limestone and top-end appliances. The second floor features two bedrooms and two baths, while the third floor is entirely dedicated to an extravagant master suite complete with lake views and a sumptuous marble bath with the finest fixtures. The fourth floor boasts two additional bedrooms, a stunning library with lake views, a fireplace and wet bar. At the very top, a roof deck offers lake views and at the bottom, a flexible lower level that can be used as a family or playroom. All new systems )elevator, HVAC, windows, doors, wiring, plumbing) made this home turnkey ready for the lucky buyer.

2131 N Kenmore Ave
Original list price: $2.47 million
Sold price: $2.4 million
2131-n-kenmore-aveThis home has a great Lincoln Park location that puts you just steps away from the best shopping and dining. The interior includes dramatic ceilings, custom moldings and state-of-the-art finishes that all culminate into a sophisticated aesthetic. An open living/dining room provides plenty of space to entertain, while the luxe eat-in kitchen has a butler’s pantry with wine fridge, large breakfast bar and custom stone flooring. A spacious great room includes custom-built storage and access to a bluestone terrace, garage deck and rooftop deck. The master suite is spectacular, with custom storage, fireplace, a private terrace, and a lavish bath. With six bedrooms, ample outdoor space and an attached two-car garage, this home is a rare find among Chicago homes for sale.

1839 N Burling St
Original list price: $2.695 million
Sold price: $2.385 million
1839-n-burling-stLocated on one of the most sought-after blocks in Lincoln Park, this transitional home opens to southern light and has all of the luxury bells and whistles throughout. The DeGiulo kitchen includes a Subzero fridge, two refrigerated beverage drawers, two dishwashers and a six-burner Wolf range with griddle. On the second level are four bedrooms, including a master suite with dual clostes and spa bath with steam shower, dual sinks, vanity and Jacuzzi tub. A penthouse family room has a wet bar, separate office and access to two rooftop decks with unbeatable city views. A long lot (131 feet) allows for a private backyard.

3657 N Greenview Ave
Original list price: $2.595 million
Sold price: $2.35 million
3657-n-greenview-aveThis huge Southport Corridor home is on a double corner lot (47 feet wide, compared to the standard 25 feet), making it an oasis within the city limits. Recent updates to the home include new windows, a new kitchen on the main level, a gut renovation to the master suite, a and new paint. The main level is fitted with charming pocket shutters, leaded glass windows, inlaid floors and a built-in hutch. This home is located in the Blaine School District, across the street from a playground and ideal for a buyer looking for character and outdoor space in the city.

To learn more about the homes that sold in October or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Real Estate Sales Were All About Chicago Luxury Homes in August

Chicago’s summer’s successful run in luxury home sales continued in August, fighting the slump that is often typical for this month. Not only was it not a “slow” month, but the ultra-luxury segment (homes sold for more than $2 million) had a great month, with 13 properties sold.

There were 49 total luxury homes sold in August, for a total sales volume of $82 million. The highest priced property to sell in August went for $3.391 million—not quite as high as the $8+ million sale we saw on Howe Street in July. What’s interesting about the homes that sold last month is the trends you can see among the most expensive homes—notably, extra-wide lot sizes (four out of the top five were on non-standard lots wider than 25 feet) and the fact that cash is still king among luxury buyers (three of the top five homes sold were purchased with cash).

Here is a more detailed look at the top five most expensive Chicago homes sold last month, in descending order:

image2121 N Dayton St
Original sale price: $3.45 million
Sold price: $3.391 million
Located steps from Armitage Avenue, this brand-new, 5,200 square foot home showcases the timeless design and meticulous workmanship Foster Design Build is known for. The elegance begins with radiant heated limestone steps that lead into a beautiful foyer. One the main floor is a formal living room with wood-burning fireplace, a dining room with coffered ceilings, a chef-grade, eat-in kitchen and a true mud room. The lavish master suite boasts a spa bath with soaking tub, enclosed water closet, steam and rain showers. Two ensuite bedrooms and laundry room are on the second floor, and the top floor (lit by a skylight!) features another bedroom, full bath and a den that opens onto a 35-foot lanai with an outdoor fireplace and mounted TV. The lower level features radiant heat, two bedrooms and an additional full bath. Other details include wiring for whole-home automation; oak floors throughout; poplar wood casings, moldings and trim; and Ann Sacks tile.

image1953 N Dayton St
Original list price: $3.595 million
Sold price: $3.313 million
On a double-sized lot on one of Lincoln Park’s most desirable blocks, this home has plenty to offer for the luxury buyer—and the one who indeed bought it paid cash. The home was recently renovated with the highest quality finishes, and boasts a number of envious features throughout, including high ceilings, stunning mill work, hardwood floors and three-panel custom doors. The gracious living room features a custom stone fireplace and a bay window that is just asking for a grand piano in it. A gourmet oak and white eat-in kitchen includes quartz countertops and Wolf and Subzero appliances. The family room opens up to an enormous backyard that makes this a perfect city oasis, complete with a lush Japanese zen garden and basketball court.

image3432 N Janssen Ave
Original list price:
$3.575 million
Sold price: $3.1 million
Custom designed on an extra-wide, 75-foot lot, this 4-bedroom single-family home is flooded with southern light. The open floor plan makes it ideal for entertaining, along with a large chef’s kitchen that includes an expansive island and built-in banquet. The master suite opens up to a balcony and includes two large walk-in closets and a fireplace. Other house features include heated floors in the kitchen, a heated back rest in the kitchen banquet, exterior heated walkways, a top-of-the-line security system and extensive landscaping work. There is also a four-car garage that includes a full gym above it. This home is located on a prime one-way street and is only a short walk to shops and restaurants. It’s also worth noting that this too, was a cash purchase for the lucky buyer.

image2049 W Dickens Avenue
Original list price:
$2.999 million
Sold price: $3.025 million
Yet another brand-new luxury home on an extra-wide lot—this one in Bucktown was sold to another cash buyer. Inside, you’ll find nearly 7,000 square feet of living space, with gracious room sizes, oversized doors and windows and quality craftsmanship throughout. The extra-large chef’s kitchen features restaurant-grade appliances, and oversized lighting with seating and plenty of storage. A great room has access to three terraces, anchored by a gorgeous marble fireplace. A huge master suite runs the width of he home and is on the same level as three additional ensuite bedrooms. The home’s lower level offers a recreational space, media room, optional wine cellar and a guest suite. And entertaining is as easy outdoors as it is in, with 1,300 square feet of alfresco space, including a heated patio with fireplace, a deck above the 3.5-car garage and a secluded terrace off of the living, dining and great room.

image3643 N Lakewood Ave
Original list price:
$2.799 million
Old price: $2.767 million
Another new construction property—this one from Bloomfield Development—built on a 30-foot, extra-wide lot, just a short walk from Southport Corridor. Two of the home’s signature features is a raised patio outside the family room and an attached breezeway to the garage. The custom, French-inspired limestone and brick façade is a only trumped by the beautiful interior, which includes handcrafted cabinetry, stained oak hardwood flooring, polished nickel hardware, Italian marble countertops and custom-designed tile. The kitchen includes Subzero and Wolf appliances and the bath, lower level and front entry boast radiant heat to combat Chicago’s winter chill.

I always encourage my clients and prospective buyers to review the previous month’s home sales to give them an idea of what types of properties are selling for what price. That way, they can compare recent sales to their own budget and wish lists and understand what they might be up against when they’re ready to purchase as well.

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

 

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.

Chicago Luxury Home Sales in April Were Unusual, with 10 Sales Over $2 Million

Spring typically brings good signs to the real estate market, and we certainly saw that in last month’s luxury home sales. Property values in the luxury market are on the upswing, a fact that becomes all the more apparent looking at last month’s single-family luxury home sales. In April, 62 homes sold for more than $1 million (for a total sales volume of $98 million) and 10 of those homes sold for more than $2 million.

The $2 million-plus price tag isn’t nearly as common in our monthly recap, so 10 properties in the “ultra-luxury” category is an atypical amount for one month of sales. A few commonalities among last month’s sales were location (Lincoln Park and Lakeview), lot size (lots more than the standard 25-feet in width are highly coveted) and newness (several of these properties are brand-new construction homes).

Here is a recap of the top five luxury homes sold in April, starting with the most expensive:

genMid.09118597_11804 N Mohawk St
Original list price:
$5.975 million
Sold price: $4.95 million
This 6,400 East Lincoln Park home is in a perfect location, just minutes from Lincoln Park, children’s parks, Lake Michigan, the Magnificent Mile and the Loop. It sits on a 46-foot-wide lot, which opens the home up to a whopping 6,400 square feet of living space. Inside, the master level includes a spa bath, dressing area, two walk-in closets and seven (!) additional closets; the penthouse level features a conservatory, exercise area and breathtaking views of the skyline. And as if the interior isn’t impressive enough, the exterior is an incredible bonus. Some of the al fresco features include a beautifully landscaped side yard and patio, mature trees, a 44-foot deck with covered dining area and sunning space, a sports court with separate access, and two additional penthouse terraces.

deming453 W Deming Pl
Original list price:
$3.749 million
Sold price: $3.65 million
Although this home was sold before print, we’ve seen several of these single-family rowhomes on the sales report over the last few months. These new construction properties are adjacent to Lincoln Park, and residents here can enjoy the ultra-luxe amenities of 2550 N Lakeview. The property itself features a spectacular layout featuring 5/6 bedrooms, 4.2 designer baths, a luxurious master suite with two walk-in closets and statuary spa bath.

genMid.09118597_12227 N Magnolia Ave
Original list price:
$2.975 million
Sold price: $2.8 million
This new construction property was billed as having too many features to list, but it certainly has plenty on the list anyway. A brand-new, custom-built, fully automated smart home in Lincoln Park, this home’s 5,300 square feet offer generous space and luxurious details. A chic white kitchen features a huge island, breakfast bar, built-in banquette and top-end appliances. The open living and dining rooms include a marble fireplace and temperature-controlled wine cellar. The master suite shares a level with two en suite bedrooms, and offers a separate seating area, sumptuous bath and custom closet space. The penthouse level has an additional guest suite along with a family room that opens up onto a rooftop terrace with an outdoor fireplace.

greenview3653 N Greenview Ave
Original list price:
$2.85 million
Sold price: $2.79 million
A new construction home in the Southport Corridor, this 6 bedroom is on an oversized lot, which allows for an extra-wide interior, generously proportioned living space and four bedrooms on the second level. There are high-end features throughout, including custom millwork, hardwood floors, tall ceilings and exquisite design details. The kitchen includes a butler’s and food pantry and built-in banquette; the family room serves as the epicenter of the home, with a dramatic barrel ceiling, built-in bookcases, a wood-burning fireplace, and opening to two large terraces. The home is also located in the Blaine Elementary School distirct, a highly sought-after feature for parents who want to live within the boundaries of one of Chicago’s best public schools.

lakewood3716 N Lakewood Ave
Original list price:
$2.795 million
Sold price: $2.75 million
Another new construction property, this one on a 30-foot, extra wide lot and a tree-lined one-way street in the Southport Corridor. The home features a custom, all-limestone façade, a heated entry, an open-air room on the roof deck, locally handcrafted cabinetry and tile design, radiant heat on lower level and master bath and four bedrooms on the second level. This property is also within the boundaries of Blaine Elementary School.

For more information on the Chicago 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.

July Was a Sizzling Month for Chicago Home Sales

Spring is typically when we see the real estate market in Chicago come on strong. When we arrive at July and August, typically the market slows down considerably, but this July was certainly not the case.

Sales for luxury single-family homes in Chicago were just outstanding in July. There were 81 luxury homes sold—those sold for more than $1 million—and a whopping 17 of those were over the $2 million mark. Total sales volume for the month was $136 million.

So where was all of the action happening? Lincoln Park was certainly at the center of this sales surge. More than half of those top 17 $2+ million sales were in Lincoln Park, including the most expensive sale of the month. Another common denominator among the top sales is lot size. Wider lots are what luxury buyers are looking for, and a home on a larger lot than the standard 25 feet x 125 feet definitely differentiates itself from the rest.

To see photos and details of the homes that sold last month, just contact me with your name and email address, and I will be happy to send you each and every one. That way, you can get an idea of what you might be looking for when you buy a Chicago luxury home.

Here are the details on the top five luxury single-family homes that sold in Chicago last month, in descending order:

2224daytonst2224 N Dayton St
Original list price: $3.565 million
Sold price: $4.75million
This stately 6-bedroom home sits on a 35-foot-wide lot, which allows it to have 5,900 square feet of living space. It’s also on one of Lincoln Park’s—if not the city of Chicago’s—prettiest blocks. The home features a vintage façade, with a fully renovated interior that retained classic features inside like antique mantles, leaded glass and moldings. The luxe master suite includes a stunning bath and custom closets. A penthouse study features a vaulted ceiling, wet bar, and a large deck with skyline views. Other stunning features include a rec/media room, exercise room, an exquisite garden/side yard and two laundry rooms.

1733NorthPark1733 N North Park Ave
Original list price: $3.95 million
Sold price: $3.6 million
Another extra-wide (31 ½ feet) in Old Town, this 5-bedroom, 5,900 square foot home features remarkable details and craftsmanship. This historic home recently underwent a complete gut rehab to feature a luxe master suite with steam shower, 4 additional bedrooms each with a private bath, separate living room, dining room and library, four fireplaces, a wine cellar, and a landscaped yard with putting green and a spectacular roof deck above a 3-car garage.

1825NCleveland1825 N Cleveland Ave
Original list price: $3.9 million
Sold price: $3.28 million
Having undergone a number of recent upgrades, this spectacular East Lincoln Park home was completely move-in ready for this buyer. With 5 bedrooms and 6,200 square feet, this home features gorgeous finishes and millwork throughout. There is also an attached garage, mud room, 2-story patio, 4,800-bottle walk-in wine room with tasting area, and a number of other upgrades.

1753WWabansia1753 W Wabansia Ave
Original list price: $3.295 million
Sold price: $3.15 million
This brand-new Chicago luxury home was just completed on a 48-foot wide lot in Bucktown. Designed in a transitional style, the home features rich hardwood flooring, impressive millwork, a huge custom kitchen, a private first-floor study, sauna, wine cellar, over 1,000 square feet of yard space and 3,000 square feet of deck space.

3624NJanssen3624 N Janssen Ave
Original list price: $3.495 million
Sold price: $3.1 million
Another new construction home. Another extra-wide lot. This Southport home has everything Chicago luxury buyers are looking for, with 7 bedrooms, 7,200 square feet and a bevy of features: media room, professional-grade kitchen, massive family room, yard and deck above huge 3-car garage, spa-caliber baths, an incredible master suite and much more.

As I mentioned before, don’t hesitate to contact me to learn more about the other homes that were sold last month or to see additional details about these top 5. It’s a great list for potential buyers to review and understand what’s going on in the market. For more information, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

May Luxury Single-Family Homes Hit $59 Million

Ultra high-end homes are once again ruling the luxury market. The top five homes sold in May were all on the higher end of the spectrum, with four our of five topping $3 million and the most expensive selling for $5.875 million. Total sales of luxury homes (those sold over $1 million) in May totaled $59 million.

As I’ve told many of my clients, when it comes to luxury properties, there are certain features that come at a price. The most expensive homes have a number of things in common, but one feature in particular is popping up more than ever: turn-key homes that don’t require nay work to be done before moving in. Even better if the home is new construction or newly renovated.

New and almost-new homes are definitely at the top of buyers’ wish lists, which means they move especially quickly, as did the homes sold last month. Among the top five, each was sold in record time, the longest being just 21 days. For upscale properties, the time to sell is going down—but prices are going up.

Here’s a look at the top five luxury homes to sell in Chicago during the month of May:

image1207 N Astor St
Original list price: $5.875 million
Sold price: $5.875 million
On an extra-wide lot (27 x 107 ft), this fantastic home on storied Astor Street features 7,500 square feet, 6 bedrooms and 4.1 baths that have all been renovated to include high-end finishes and fixtures, radiant heat and home electronics. A great room stretches up to a 20-foot ceiling with a stone fireplace, while a sun-filled penthouse features a skylight and 2 terraces. The terrazzo floored lower level features a media room and wine room.

image2138 N Hudson Ave
Original list price: $5.2 million
Sold price: $5.1 million
This single-family home takes “extra-wide lot” to the next level with a lot that’s twice the standard 25 feet wide, allowing for a whopping 8,000 square feet of living space. That alone makes it atypical of a city home, but the large yard, park-like setting and abundant natural light make it feel almost like a vacation getaway. Inside you’ll find 5 bedrooms, a huge eat-in kitchen with high-end finishes, dining terrace off of the great room, two-story library, spa-like master bath on the top level and an attached 3-car garage.

image43 E Division St
Original list price: $4.5 million
Sold price: $4.15 million
This 5,500 square foot Italianate home hails from the 1870s—but has been fully revamped for contemporary living in 2015. The property includes coach house spaces that can be used as in-law quarters or even a separate living space entirely. Other features include a heated sidewalks, stone floors and 2-car garage, expansive storage and 2 additional outdoor parking spaces.

image2238 N Magnolia Ave
Original list price: $2.849 million
Sold price: $3.05 million
This sparkling new construction single-family home is on one of Lincoln Park’s finest one-way streets. The spectacular floor plan allows for superb natural light and is complemented by an array of feature: designer selections throughout, an amazing chef’s kitchen with integrated appliances and modern millwork. The great outdoor space includes a backyard, garage roofdeck, covered/open rooftop deck, great neighborhood views, outdoor grilling station and fireplace and heated steps and rear patio.

3646 N Lakewood Ave3646 N Lakewood Ave
Original list price: $2.395 million
Sold price: $2.3 million
Yet another Chicago new construction, this home was built by Bloomfield Development just steps from Southport Corridor and Blaine Elementary, one of the top (and therefore most sought-after) schools in the city. With a full masonry/brick construction that built a handsome exterior, the 4,800 square foot interior boasts 6 bedrooms, 5.1 baths, custom millwork, a SubZero/Wolf appliance package, hardwood flooring, lower level radiant heat and more. The home’s outdoor space includes a raised patio with fireplace and a rooftop deck with outdoor room.

With high-end luxury homes in Chicago moving so quickly on and off the market, it’s important to keep up with the current listings. What’s for sale today could be very different from what’s for sale tomorrow. If you’d like to keep an eye on a particular neighborhood, type of home, or particular features, give me a call and tell me what you’re looking for. Contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.