Luxury Chicago Home Sales Slow Down in February

Over the last several months, it hasn’t been uncommon to find a property or two on the top sales each month that I’d call “ultra luxury.” These are the homes that sell for $3 million up to $8 million, typically in Lincoln Park.

February’s sales did not include a property like this, and it’s the first month in some time where this is the case. This could be signaling a trend for 2018, so it’s definitely worth keeping an eye on in the Chicago luxury market.

But any number of things could be taking a toll on luxury sales. What we saw last month could simply be a product of the low inventory for these ultra-high-end homes combined with Chicago’s brutal February weather. Or the most recent increase in mortgage interest rates. With that in mind, it’s interesting to note that three out of the top five sales in February were sold to cash buyers. Most of them were also on extra-wide lots, which continues to be a coveted feature for single-family homes.

February’s luxury market saw 31 single-family homes sold in all, for a total of $48 million in sales volume. Let’s look at some of the details about the properties that sold, starting with the most expensive:

1236 W Lill Ave1236 W Lill Ave
Original list price: $3.225 million
Sold price: $2.975 million
February’s most expensive home sale is a whopping 6,300 square feet of new construction on a double lot spanning 45 x 127 square feet. That space allows for coveted features like a huge backyard, attached two-car garage and four bedrooms on one floor. Unique features include high ceilings, a brick/limestone façade, rift and quartered oak floors, exquisite millwork, a curved custom staircase and 4 wood-burning fireplaces. The main floor boasts a gorgeous living room, formal dining room, spectacular ceiling detail and large bay window. A gourmet eat-in kitchen has Calcutta counters, a large center island, Wolf and SubZero appliances and a built-in banquette. There is also a large great room, a limestone outdoor porch, gorgeous master suite and a lower level with family room, guest bedroom, private office and custom wine cellar.

1855 N Hermitage Ave1855 N Hermitage Ave
Original list price: $2.595 million
Sold price: $2.56 million
Another new construction home, another oversized lot. This 6,000 square foot home was built with unparalleled attention to detail in the heart of Bucktown. Inside, find features like a handsome brick and limestone façade with copper accents; rift and quarter sawn flooring; beautifully detailed millwork and custom cabinetry, high-end appliances, Waterworks bathrooms and more. There is over 1,500 square feet of outdoor spaces, with a garage deck and rooftop deck that let you enjoy skyline views. This home is also within easy walking distance of everything Bucktown has to offer.

2101 N Dayton St2101 N Dayton St
Original list price: $2.999 million
Sold price: $2.55 million
A premium home in Lincoln Park, this 5,500 square foot home is showcases with a brick and limestone exterior on a corner lot on a great block. The extra-wide interior is crisp and clean, with a southern exposure that floods the space with light. Other features include high ceilings; large window; a great floorplan; a gourmet kitchen with large, open great room; large master suite; a lower level mudroom, playroom and study; and a beautiful yard with three decks.

338 W Oakdale Ave338 W Oakdale Ave
Original list price: $2.195 million
Sold price: $2.1 million
This East Lake View home was freshly updated, and its 6,400 square feet are exquisitely highlighted by a flood of natural light. Located on an oversized lot a half-block from Lake Michigan and Diversey Harbor, this home is also in the top-rated Nettlehorst School District. Features include soaring 12-foot ceilings, expansive custom millwork, a passenger elevator, exotic hardwood flooring, three fireplaces and a hard-to-find, 3.5 car attached garage. The well-designed floorplan allows for spacious bedrooms, full-size laundry, a secluded rec room with private patio and marble baths. And a unique entry level is ideal for a live/work space, nanny or in-law unity with an open living area and private outdoor space.

1731 N Hermitage Ave1732 N Hermitage Ave
Original list price: $2.095 million
Sold price: $1.995 million
Another new construction home on one of the most desirable tree-lined streets in Bucktown, this home was billed as a “contemporary tour de force” by Norsman Architects. The high design and attention to detail in this home give it a bespoke sensibility, with expansive open living that is both luxurious and inviting. The home features an abundance of natural light, soaring 11-foot ceilings and a dramatic interior glass courtyard. There’s also an Italian kitchen, sumptuous spa-like baths, custom millwork and a gym with a sauna. The outdoor space is incredible, with garage and rooftop decks with city and neighborhood views.

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.

Chicago Luxury Homes Closed in December Were on a Tear

Chicago luxury home sales hardly went on a winter break at the end of 2017. The month of December saw $107 million in total sales volume for homes sold for $1 million and up. And the ultra-luxury category showed healthy sales as well.

During December, there were 18 deals made for more than $2 million. And the top five single-family homes all topped $3 million in price.

Lincoln Park Still a Hot Spot for Luxury Buyers
Of those 18 $2 million-plus sales, two-thirds of them were found in Lincoln Park. And of the top five, three were in Lincoln Park. While this beloved neighborhood has always been sought after by luxury buyers, it’s been especially hot in recent months, especially when a new construction property becomes available.

Lincoln Park is such a favorite for a few reasons:

Location: Lincoln Park is literally in the heart of it all. A quick jaunt into downtown. A short walk to parks and outdoor spaces. Nearby shopping, restaurants, nightlife and theater. But, the neighborhood boasts a residential feel that could be hard to come by in more urban areas. So Lincoln Park packs all of the convenience of city living with the comfort of the ‘burbs.

Plenty to do: You can spend a day in itself in actual Lincoln Park, home of the zoo, conservatory, North Pond and much more. And Lincoln Park is full of distinct blocks of boutique shopping, local eateries and other hot spots. There is always something to do, and it’s likely just steps from your front door.

Real estate options: Whether you’re looking for a full-amenity condo, a single-family home or a property with architectural significance, you’re likely to find it in Lincoln Park. This architecture of residential real estate in this area ensures you’ll find a property that sets itself apart in the luxury market.

Top Five Sales All Topped $3 Million
You can see why winter didn’t steer away luxury buyers from everything Lincoln Park and other Chicago neighborhoods have to offer. Here’s a closer look at the top five most expensive luxury homes that sold in December, in descending order.

1502 N Dearborn Pkwy1502 N Dearborn Pkwy
Original list price: $3.999 million
Sold price: $3.8 million
December’s top sale was a new construction property, which is always highly coveted with the luxury buyer. This 4-story, 5,200 square foot 3 bedroom includes features like a limestone façade, a top-floor master suite with double walk-in closets and a sky-lit level that brings in tons of sunlight. The extra-wide lot allows for plenty of green grass space between the house and garage.

1942 N Dayton St1942 N Dayton St
Original list price: $3.799 million
Sold price: $3.7 million
An extra-wide lot allows this Lincoln Park home to stretch across a generous 6,000 square feet, with 6 bedrooms and 6.1 baths. Features include a gracious entry foyer with a custom staircase that opens to spacious living and dining rooms; a huge great room with built-ins adjoining the kitchen area; and a large master suite with fireplace, dual walk-in closets, and a beautiful bath with steam shower. The showstopper of the home is the Christopher Peacock kitchen, featuring a walnut island, 48-inch Wolf cooktop, double oven and built-in desk area. You’ll also find a temperature controlled wine cellar, gigantic family/rec room with wet bar, an elevator to all levels and unbelievable outdoor space that includes a covered terrace, deck with pergola and planters, sunken stone patio and multiple rooftop decks. The home also has an attached 3-car garage—a must for Chicago winters.

2042 N Fremont St2042 N Fremont St
Original list price: $3.599 million
Sold price: $3.5 million
Located on a premier Lincoln Park block, this serene and understated 6 bedroom, 5.1 bath home has a highly functional layout across its 5,200 square feet. The home also has more than 1,500 square feet of outdoor space that includes a covered Loggia with outdoor fireplace on the penthouse level. The kitchen features custom slab-front cabinets, a giant walk-in pantry and a huge eat-at island. The great room opens up to a generous, stone-paved terrace leading to a garage roof deck. The lower-level family room includes oversized windows and a built-in wet bar with two additional bedrooms.

1804 N Leavitt St1804 N Leavitt St
Original list price: $4 million
Sold price: $3.4 million
You’ll see from the sales price that this home sold for a whopping $600,000 off of the list price—likely due to the buyer purchasing the home for case. Spanning 8,600 square feet, this 5 bedroom, 3.2 bath home is an architecturally exciting showpiece. Designed Miller Hull Partnership with heavy exposed timber and brick, the interior boasts soaring ceilings, and open central atrium that floods the home with light, a master suite on the top floor and a roof terrace. The kitchen’s two-story window wall opens to a full side yard with extensive landscaping. Other features include an elevator, 1,200 bottle wine cellar and an acoustically sealed theater room.

09061607_21489 N North Park Ave
Original list price: $3.1 million
Sold price: $3,061,310
This 6,000 square foot new construction home sold as quickly as it was listed. Touted as one of the most spectacular homes in the city presented by Urbane Home, this solid-brick beauty sits on wide, quiet, tree-lined street in the heart of Old Town. The location puts it just steps from popular shops, restaurants, transportation, parks and the lake. Inside, you’ll find artisan-caliber finishes in the professionally appointed interior that includes 4 living spaces. Outdoors, enjoy multiple outdoor spaces with skyline views. This home has luxury, comfort and convenience rolled into one, with a professional-grade kitchen, radiant heat in baths and exterior and electric car charging. Since this home was still in the final phase of development, the buyer even had time to make some customizations of their own from the builder.

Seeing what sold in the previous month is a great way for buyers to get a gauge on the market if they are looking to buy. If you’re looking for new construction or a particular feature, getting familiar with the recent sales can give you insight into what you might expect to pay for a property of the same stature.

For more information on December single-family home sales 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 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.

Single-Family Luxury Homes Sell Well in April

Looking at the April numbers, Chicago’s luxury market sales are up, and I’d predict that the rest of spring should continue to be a “seller’s market.”

Last month, 11 of the properties sold were in the “ultra-luxury” class, meaning luxury single-family homes that sold for $2 million up to $4.775 million. Of the top five most expensive sales, two were in the $4 million range and one was in the $3 million range. In total, April saw 64 luxury single-family homes sold for a total sales volume of $103 million. It’s safe to say that extremely high-end homes saw healthy sales, and that the initial trend appears to indicate a strong spring luxury market in Chicago.

It’s also safe to say that luxury buyers are gravitating toward a key feature: space. As we’ve seen consistently over many months, two of the top five Chicago home sales for last months were properties that are on above-standard-size lots. The extra space allows for more interior space and larger room sizes, which makes transitioning from suburban living to the city much easier.

With that, here’s a look at the top five homes that sold last month, beginning with the most expensive:

1702-N-Burling-St-Chicago-Single-Family-Home-Front-Door-21702 N Burling St
Original list price: $4.775 million
Sold price: $4.775 million
This brand-new construction property in Lincoln Park didn’t have too many details to speak of, but it was built on an extra-wide (36 feet) lot, which is a key feature when it comes to luxury properties. The 8 bedroom, 5. 2 bath spans 7,300 square feet and is in a great location one block east of Halsted in the Lincoln Park school district.

astor1400 N Astor St
Original list price: $4.995 million
Sold price: $4 million
Built in 1886, this Gold Coast home on Astor Street is the epitome of sophistication. The historical integrity of the home has been maintained through a number of renovations and additions that have updated the home for modern living. Inside, you’ll find a number of gorgeous details like a grand foyer with custom millwork, mahogany paneling, parlor with original built-ins, marble fireplace and more. The second floor includes 4 large bedrooms, each ensuite and with ample closet space. The master suite has a rotunda, three walk-in closets, white wood paneled bathroom with double vanity, soaking tub and separate shower. The third floor is idea of a nanny / au pair suite or playroom, fitted with two additional en suite bedrooms.

dayton2243 N Dayton St
Original list price: $3.595 million
Sold price: $3.33 million
On the outside, this home is a beautiful 1900s limestone façade; but on the inside a stunning new construction property awaits, having been completely gutted down to only the four exterior walls. This Lincoln Park home is more than 6,200 square feet, with an extra-wide interior that includes six bedrooms, a large master suite with two walk-in closets, an office, exercise room, large third-floor rec room, lower-level media room and 5.2 baths. The top-of-the-line finishes used throughout include marble tile, custom millwork, designer lighting fixtures and Lefroy Brooks plumbing fixtures throughout. A roofdeck with fireplace sites over the oversized 2.5 car garage, while a penthouse room offers roof access with city views. The location of this home is on a quiet, tree-lined street, just steps to Halsted and Armitage, where you’ll find shopping, restaurants and more.

willow612 W Willow St
Original list price: $2.999 million
Sold price: $2.725 million
Designed by Booth Hansen, this extra-wide home in Lincoln Park is one of a kind. A wide, open main floor plan brings in incredible natural light to its 5,500 square feet and six bedrooms. The chef’s dream kitchen includes Wolf and Subzero appliances, steam oven, and large additional butler’s pantry. The main level opens up to a gorgeous terrace with built-in grills and irrigated planters. A huge master suite has city views and expansive walk-in closet. And the coup de grace is a truly unbelievable rooftop deck, with built-in bar, grill, outdoor television, spa, and the best views of downtown. The home is also located in the Lincoln School district, a covetable feature for parents of school-aged children.

belden456 W Belden Ave
Original list price: $2.995 million
Sold price: $2,620,612
A historically landmarked home updated for modern living is the best of both world’s in Chicago real estate. This 6 bedroom, 5.2 bath home spans a whopping 7,600 square feet, located on a 50 x 130-foot lot in East Lincoln Park. The home boasts a number of historic details—original stained glass windows, fireplaces, doors and shutters—while accommodating modern living and design. Other features include oak floors, custom lighting, oversized windows, an elevator, two decks and professional landscaping. The lower level is currently a 2,200 square foot unit that could serve as a rental or be incorporated into the home, with 3 bedrooms, 2 baths, formal dining room, family room, living room, two patios and laundry room.

It’s a great idea for buyers to be familiar with the most recent home or condo sales to adequately prepare for your own purchase. Understanding the types of properties that sold and for what price will give you an idea of what to expect. I’m happy to show you photos and additional details of the properties that sold last month. Contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Another Gang Buster Month for Chicago Luxury Home Sales in June

June was good to the Chicago luxury real estate market. A total of 64 luxury homes (those sold for $1 million or higher) were sold, totaling $105 million. And these homes were certainly on the higher end—13 of them were over $2 million, and the most expensive sale of the month went for $3.9 million.

There was a clear common denominator among the top homes sold: not a single one was on a standard lot. The standard size lot for a single-family home in Chicago is 25 feet x 125 feet, but many luxury homes are lucky enough to be built on a lot that is extra wide or extra deep (sometimes even both!). The extra space translates to extra square footage for the home, a more open floor plan or more expansive outdoor space. Luxury buyers are on to this trend, and I’ve had a number of clients indicate that they were searching for a home on an extra-wide lot to reap some of those benefits.

Along with plenty of space, the homes sold in June feature everything from envious outdoor space to views to impeccable details. Here’s a closer look at the characteristics of the top five sales, starting with the most expensive:

843 W Webster843 W Webster Ave
Original list price:
$4.5 million
Sold price: $3.895 million
This stunning estate in Lincoln Park sits on a double lot (48 x 125 ft) with a full limestone facade. Inside, you’ll find 6,785 square feet, including a second-level living room that stretches a whopping 42 feet wide with a large wall of windows. Throughout the home are high ceilings, northern and southern exposures and tall windows, bringing in plenty of natural light for an airy atmosphere. On the third level is a master suite with three additional bedrooms, while the first level is home to an “acoustically perfect” music room, rec room, media room or private office. The outside features a Zen garden in the front and back, and the back facade includes 3 terraces. Note, the buyer of this new Chicago home paid cash for this purchase.

1874 N Burling St1874 N Burling St
Original list price:
$3.95 million
Sold price: $3.75 million
This custom-built home sits on an extra-wide lot which affords it 7,500 square feet of interior living space. Burling is one of the most desirable streets in the city, lined with beautiful McMansions in one of Chicago’s most covetable neighborhoods, Lincoln Park. This 5-bedroom home boasts an off-the-charts level of finish, with an incredible elliptical staircase and elevator that stops on all 4 stories, including the penthouse that includes an expansive roof deck with incredible views. The chef’s kitchen includes top-of-the-line appliances while a full-floor master suite includes a spa-like bath and office.

1239 N Wood St1239 N Wood St
Original list price:
$3.5 million
Sold price: $3.1 million
Many single-family luxury homes sit on an extra-wide or extra-deep lot. But then, there’s this home, which sits on an incredible six lots, translating to over 22,000 square feet of living space. On 3 of those lots is a private garden oasis with a pond, stream terrace, walking paths and customer lighting. The interior features 3 bedrooms, 5.1 baths, a huge private gallery and a ton of open space. The second floor boasts a mahogany library, bar, offices and two large bedrooms. And on the third floor, you’ll find the master bedroom and bath, a living room/kitchen combo and a massive 58 x 56 foot ballroom.

1111 W Wolfram St1111 W Wolfram St
Original list price:
$2.9 million
Sold price: $2.7 million
Built on a 40 x 125 foot lot with a 3-car garage, this Lincoln Park home features a harmonious floor plan between the formal living room and dining room, kitchen, great room with wood-burning fireplace and much more. The huge kitchen is a chef’s dream: 3 ovens, 2 dishwashers, a 6-burner stove, full refrigerator and freezer and breakfast area. High ceilings and beautiful crown molding are found throughout.

1942 N Cleveland Ave1942 N Cleveland Ave
Original list price:
$2.695 million
Sold price: $2.55 million
This single-family Lincoln Park home spared no expense when it was built just 2 years ago. On a 25 x 127 foot lot with 5 bedrooms and 5.1 baths, this home pays unparalleled attention to every detail, from the high ceilings to the custom staircase, large open rooms, wine cellar designer Calcutta baths and more. Exterior space includes a large deck over a 2.5-car attached garage, plus a full roof top deck. It’s also in the Lincoln Park school district, a feature high on buyers’ lists so they can send their children to some of the area’s top-rated neighborhood schools.

I recommend my clients who are in the process of finding a Chicago home to review the previous month’s sales. This will give them an idea of what comparable properties are selling for and help them determine what to look for in their own search.

For more information on last month’s sales of luxury real estate in Chicago, call me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Phenomenal Sales Month for Chicago Luxury Homes in April

Spring is here, and so are the buyers. Last month’s numbers are in, and it seems that people who can afford luxury real estate in Chicago are coming out of the woodwork, which led to 56 luxury ($1 million-plus) homes sold in April. Of those 56, 15 homes sold for more than $2 million.

Trends Among Luxury Chicago Real Estate Sales

You’ll see a few commonalities among these sales, especially in location. Three of the top 5 homes sold were in Lincoln Park and 2 were in Lakeview. I am noticing that the Lakeview area is becoming popular among luxury buyers—particularly those who want larger rooms, an extra wide lot and new construction. Those features run considerably more expensive in Lincoln Park, plus land is limited, so such lots are much harder to come by.

Another trend is one we’ve been witnessing for awhile—extra-wide lots. Even a stretch of only a few feet past the standard lot size can afford a home more square footage, a more open layout and larger rooms, and these are all things buyers want in a new Chicago home. Last month’s sales in Lincoln Park are on extra wide lots and one is of the most exclusive blocks in the city.

With that, here’s a closer look at the top five most expensive sales last month, in descending order:

1874orchard1874 N Orchard
Original list price:
$5.975 million
Sold price: $5,927,483
Last month’s most expensive sale is truly special and checks off just about everything a luxury buyer is looking for. Foremost, the space is absolutely huge. At 35 feet x 131 feet, the lot is extra wide and extra deep—I might even call it extra, extra large. Plus, this street in particular lacks an alley in back, allowing the 8,530 square foot home to benefit from an attached, front-loaded garage and an enormous rear yard measuring 37 feet x 35 feet. That size outdoor space is practically unheard of in the city.

Secondly, the home was sold as proposed construction—which means brand new, plus the buyer can work with the developer to make customizations to their liking. While many details were TBD at the time of sale, there was one spectacular inclusion: a 5-stop elevator to provide access to the home’s massive penthouse roofdeck with exceptional city views. And one last (but most certainly not least) feature: the location is one of the most coveted in Lincoln Park, as Orchard is a prestigious block home to many beautiful mansions.

2032NClifton2032 N Clifton St
Original list price:
$3.75 million
Sold price: $3.5 million
Built in 1883, this brick and limestone home was recently rehabbed on its fabulous Lincoln Park block. Details inside include a custom O’Brian Harris kitchen, Calcutta Gold marble counters, walnut cabinetry and Wolf and Miele appliances. An extra large master suite includes a huge chaise lounge shower, dual vanities and custom closets, and 4 additional bedrooms feature their own private paths as well.

2017NFremont2017 N Fremont St
Original list price:
$2.95 million
Sold price: $2.775 million
This 5,000+ square foot home was a 3 flat converted into a single-family home on the ever-charming Fremont Street. Each corner was built to the highest quality, with luxe materials and finishes, limestone countertops, a gorgeous kitchen and a new lower level that could serve as a great room or guest suite. Plus, a 2-car heated garage, 3 heating/cooling zones, 4 fireplaces and 5 skylights are just a few perks throughout.

jansen3446 N Janssen Ave
Original list price:
$2.995 million
Sold price: $2.75 million
Another just-finished new construction home on an extra-wide (37.5 feet!) lot, this Lakeview home offers loads of space: 6,200 square feet and 6 bedrooms. That allows plenty of room for a huge professional-grade kitchen, massive family room, a deck above the 3-car garage and much more. Beautiful details are found throughout, from the solid brick/limestone exteriors to the interior hardwood floors, custom millwork, spa-caliber baths and radiant heated floors.

lakewood3649 N Lakewood Ave
Original list price:
$2.85 million
Sold price: $2.75 million
Six bedrooms, 6,000 square feet and a stunning addition to the Southport corridor—this Chicago new construction home has plenty to boast about. Ideally located in the Blaine School District, the home was built on an extra-wide, 30-foot lot, allowing for generous space throughout. The home features quality millwork throughout, custom designed kitchen, a penthouse rec room, smart home integration, plus radiant heat on the lower level, baths and front steps. An attached three car garage is a rarer find among urban real estate, as is the abundant outdoor space.

Last month’s sales are proof that space is a luxury among Chicago homes—buyers covet square footage as much as a prime location newer properties. And many want all three of those and more! This is why I think it’s important for potential home buyers to keep an eye on what’s selling on the Chicago real estate market from month to month. If you’ve got a big list of “wants” for your own purchase, seeing what sold for what price can help you set expectations for your budget.

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

Single-Family Luxury Homes in Chicago Sold Amazingly Fast in April

Single-family luxury homes were flying off the proverbial shelves last month, with 4 out of the top 5 most expensive homes selling in less than a month.

April’s luxury home sales (those priced a $1 million and higher) totaled $57 million in sales, coming from 33 properties. Seven of those sales were more than $2 million.

Bucktown Becoming a Destination for Chicago Luxury Real Estate

Bucktown is certainly coming into its own—this Chicago neighborhood took two spots on last month’s priciest home sales. In recent months, we’ve seen a number of new construction properties sell in Bucktown, many of which take advantage of wide lots, modern architecture and happening surroundings.

Just back in January, Bucktown saw its second highest-priced sale ever at $3.1 million. The highest (before April’s sale) was $3.68 million. So last month’s most expensive home sale in the city was likely a record-breaker for the neighborhood as well.

Square Footage Sold Chicago Single-Family Home Sales in April

Chicago’s luxury homes are proof that you don’t have to head to the suburbs to get more space. Of the top five homes sold last month, every one spanned more than 5,000 square feet, many thanks to wide lots and multiple levels.

Starting with the most expensive, here are details on the top 5 home sales in Chicago last month:

1837 N Winchester Ave
Original list price: $3.895 million
Sold price: $3.7 million
April’s top sale sits on a double lot in the heart of Bucktown. It also sold in just 23 days, despite its phenomenal price tag. This one-of-a-kind contemporary estate boasts an amazing floorplan perfect for entertaining, floor-to-ceiling windows and a 2-story atrium that washes the home with natural light. You’ll also find exotic woods throughout, extensive custom cabinetry, a state-of-the-art gourmet kitchen and a spectacular lower level. The outdoor space includes a large deck and yard, with a pool and hot tub above the attached garage.

1962 N Burling
Original list price: $3.1 million
Sold price: $2.8 million
Burling is one of the most prestigious streets in Lincoln Park, but that’s not even one of the major highlights on this home. Spanning 6,500 square feet, this home is rich with luxury, including outstanding architectural details, a limestone façade, and extra-wide interior, two fireplaces and a 3-story atrium. Each room is generously sized, from the eat-in gourmet kitchen with top-of-the-line appliances, large family room with wood beam ceilings, a large terrace, and generous lower level with a rec room, 5th bedroom and bath.

3627 N Lakewood Ave
Original list price: $2.795 million
Sold price: $2.75 million
Also a newer property in the Southport Corridor, this single-family home is on an extra wide 30-foot lot, spanning 6,900 square feet in total. With 4 bedrooms and 3 baths, the home features a custom-designed kitchen, radiant heat on the lower level, baths and front steps, smart home technology and quality millwork throughout. Abundant outdoor space is another perk, not to mention the home’s location in the Blaine School District (one of the city’s best).

1858 N Paulina St
Original list price: $2.599 million
Sold price: $2.59 million
A brand-new Bucktown home, this property resets the standard of elegance and urban style in Chicago real estate. Its location on a wide corner lot allows for an interior width over 21 feet and 5,400 total square feet. A spacious, open floor plan is detailed with exemplary finishes, custom, oversized windows, industrial metal workmanship and custom mahogany. Out back is a raised yard with a fireplace for soaking in summer weather.

1316 W Henderson Ave
Original list price: $2.45 million
Sold price: $2.275 million
A generously sized 6 bedroom, 6,000 square-foot Lakeview home, this property is on an extra-wide lot and has been completely upgraded and customized. The home was just built in 2010 and was “barely lived in,” with high ceilings, a walk-in wine cellar, home theater, private patio and deck. Impressive millwork is detailed throughout, including coffered ceilings, custom cabinetry and built-ins.

If you’re in the market for luxury real estate in Chicago, take a look at the sales from the previous month to get an idea what to expect—in terms of price, location, availability and what your budget will get you in today’s market. For additional details or to see what’s on the market now, contact me at (312) 254-5853 or email me at ssalnick@dreamtown.com.

Single-Family Luxury Home Sales in Chicago Down for February

We finally saw some of the typical winter slump among Chicago luxury real estate in February, specifically among single-family homes. Only 17 luxury homes–those sold at $1 million or above–closed in February, which was a considerable decrease from the 29 homes that sold the month prior. Total luxury home sales were just over $30 million for February.

This is also in comparison to the luxury condo market, which in February saw its 3rd consecutive month of excellent sales (more on that tomorrow). It appears the single-family luxury market isn’t as strong as the market for Chicago condos.

Chicago Luxury Homes that Sold in February
Still, there are a few noteworthy points among February’s luxury home sales. I think it is especially interesting that 3 of the 5 most expensive homes sold were vintage homes–two found in the Gold Coast and the third in historic Wicker Park. Vintage homes usually spend more time on the market, especially in a time like now when buyers are really gravitating toward new construction.

However, I’ve been noticing that vintage homes that have been redone are now moving quite fast. The inventory for all redone, vintage luxury homes is likely low, so I’d think the vintage buyer is more willing to come up in the price for a property that could be like-new but still has the vintage charm they were looking for.

Here’s a detailed look at the top 5 most expensive Chicago luxury homes that sold last month, in descending order:

1909 N Fremont
Original list price: $3.295 million
Sold price: $3.2 million
In the heart of covetable Lincoln Park, this new construction property takes the prize for the most expensive closing last month. The all-masonry limestone home features everything from high ceilings, Marvin windows, an elevator, custom millwork and cabinetry throughout and a custom staircase. The floorplan allows for a generous 5,300 square feet with 5 bedrooms and 7 baths, including a luxurious master suite with walk-in closets. The outdoor space includes a rooftop deck with skyline views. Because this property was still in the new construction phase, the buyer did have some opportunity to customize certain features to their preference.

52 E Bellevue Place
Original list price: $3.75 million
Sold price: $3.1 million
A Gold Coast beauty built in 1885, this home is a red brick Georgian with a stunning floorplan. Spanning a whopping 6,070 square feet, there is space for a nanny or in-law apartment in the home’s lower level, plus 5 bedrooms and 4.5 baths on the additional levels. The interior features 10.5-foot ceilings on the living/dining level, plus oversize windows that bring in generous natural light. Other highlights include a totally enclosed patio yard space, a tandem 4-car garage, separate master bedroom level, and sky-lit foyer–not to mention, a truly wonderful location in Chicago’s Gold Coast.

63 E Bellevue Place
Original list price: $3.325 million
Sold price: $2.965 million
This updated home began as a turn-of-the-century Victorian and retains an impeccable adherence to period details with modern updates, such as an in-home theater, Smart Home technology and an elevator. The 5,020-square foot interior boasts Brazilian cherry/walnut inlay floors, a sumptuous master suite on the top floor and 8 gas fireplaces. It’s location also puts you steps away from Oak Street Beach and Gold Coast’s bevy of restaurants, shopping and services.

2046 W Pierce Street
Original list price: $2.48 million
Sold price: $2.3 million
Another old-meets-new Chicago luxury home: This Beau Victorian mansion was recently modernized in historic Wicker Park. The result is old-world ambiance from the home’s architecture infused with style and warmth from a fully-finished living room, added 3rd floor and much more. Its location on an extra-wide lot allows for 6,000 square feet with a grand, fully equipped kitchen, skylight walkway and huge master suite with European showers.

3020 N Kenmore St
Original list price: $2.125 million
Sold price: $2.215 million
This builder-sold home in Lincoln Park gave the buyer the chance to build on a 37.5-foot-wide lot (1.5 times the standard size). The home’s plan included 5,700 square feet of living space, a large yard and 3-car garage, but because this was a builder’s property, the buyer can take the opportunity to make any customization they’re looking for and essentially build their dream home from the ground up.

Even in a winter-logged market, I encourage any homebuyer to take a close look at the prior month’s real estate sales. This gives you an understanding of what’s on the market at what price. Having a grasp on that information can give you the upper hand when evaluating potential homes to purchase and making offers.

If you’d like more information on last month’s single-family home sales in Chicago, including additional images and details, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Chicago’s Luxury Single-Family Home Sales Were Gangbusters in December

The weather may have been cold, but the luxury home market was hot, hot, hot last month. The Chicago real estate market saw 43 single-family luxury homes (those priced at $1 million and higher) close for a total of $74.7 million. And those homes didn’t skimp on luxury. The most expensive home sale clocked in at $9.035 million.

This is big news for December, a month that is typically rather slow and uneventful when it comes to real estate in Chicago. But last month was clearly an exception and an exciting way to close out 2013. Two of the top five most expensive homes are in the Gold Coast, one of Chicago’s premier neighborhoods for luxury living. The $9 million piece de resistance is on Howe Street, one of the most exclusive blocks in the city for single-family homes.

Here’s a look at the top five most expensive Chicago homes sold last month, starting with the most expensive:

1866-70 N Howe St
Original list price:
$10 million
Sold price: $9.035 million
This 6-bedroom Chicago home is on one of the best blocks in Lincoln Park, let alone in the city itself. It sits on a triple lot, spanning 11,000 square feet inside and room to park 6 cars. It’s sleek, contemporary design lends itself to breath-taking finishes throughout with an elevator to all 3 floors. Features include a 50-foot sports court above the 4-car attached garage, an in-home theater, a fully equipped gym, billiards room and a landscaped, private side yard. Lincoln Park is highly desirable thanks to its great schools, a residential-meets-urban style and ideal location with easy access to downtown.

1624 N Wolcott Ave
Original list price:
$2.995 million
Sold price: $3,105,429
A new construction property in Bucktown, this home was a custom build for the buyer, on an oversized (double) lot on a sought-after street. Its contemporary design features the finest craftsmanship and finishes, with 6 bedrooms and more than 7,000 square feet. Other features include great natural light, abundant outdoor green space and roof deck, with an open kitchen leads to a breakfast room and family room with 4 bedrooms upstairs. Beyond that, the home was slated to become whatever the buyer wanted, as a custom build like this allows them to essentially design their dream home.

4307 N Hermitage Ave
Original list price:
$2.65 million
Sold price: $2.71 million
This Ravenswood property boasts two factors luxury buyers love: new construction, and on an extra-large lot. That, along with a huge yard sets this home apart from other Chicago homes, with a gorgeous restored facade and new construction from the front door back.

32 E Bellevue Pl
Original list price:
$3 million
Sold price: $2.7 million
While this home was originally built back in 1892, a recent renovation has it up to date with all of today’s modern luxuries. Designed by John Wellborn, this home is an architecturally significant piece of Chicago real estate, with 6,000 square feet and a 1,200 square foot deck. Inside, the room sizes are generous, including a De Guilio kitchen, spa marble baths, a great room, living room/dining room idea for entertaining and a guest apartment. Other luxury characteristics include 12-foor ceilings, a high-tech lighting and stereo system, six marble fireplaces and a 2-car garage and 2-car parking pad. The open space along with the proximity to shops, restaurants and the beach make this home a luxury buyer’s dream.

38 E Schiller St
Original list price:
$2.75 million
Sold price: $2.525 million
Another winner in Chicago’s Gold Coast, this historic home has been renovated to retain its 1887 facade, but upgrade the interior from the ground up. With 4 levels and 4 bedrooms, the home features exquisite details, like a granite main floor, DeGiulio stainless steel chef’s kitchen, attached oversized garage, stereo surround, 6 motorized skylights, 4-5 oversized bedrooms and high-end finishes. There’s also plenty of space among 4,300 square feet, with a huge terrace and balcony.

Getting Year-End Deals in Chicago Real Estate
It’s interesting to see that the month’s most expensive sale at $9.035 million closed at nearly $1 million less than the asking price. The deal was also all in cash. This is a huge win for the buyer of this property, who likely took advantage of benefits that come with buying at the end of the year. December is typically an “off” month in real estate, so sellers are eager to negotiate and get their properties off the market before the new year.

I always suggest that buyers don’t give up on shopping for a new Chicago home in November and December. This is a time to get the best buys and have them close before the end of the year. Even the early months of a new year can be a great time to look at purchasing property in Chicago, as the cold weather can slow things down and make deals more likely to happen between buyers and sellers.

For more details on last month’s luxury sales or to see Chicago homes for sale now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Lincoln Park Was Hot in June, Where 7 of 11 Most Luxurious Homes Sold

The numbers are in for Chicago luxury home sales in June, with 60 single-family homes closing for a total of $87.6 million. The top 11 sales ranged from $2 million up to the most expensive sale at $4.2 million–and not surprisingly, 7 of those 11 were found in Lincoln Park, one of the city’s most coveted neighborhoods for high-end homes.

If you’d like to see the locations or additional photos of the top luxury homes sold in June, email me at ssalnick@dreamtown.com and I’d be happy to get them to you immediately. There’s something to be said for seeing the photos of these homes in order to understand (and possibly adjust) your expectations as to what is selling on the market. For buyers, this can really clarify what is out there for your budget and what type of details you’ll find in a luxury home with a certain price point.

For a buyer in today’s market, looking at the last month’s home sales can also give you an idea of the details and nuances of various luxury properties and what they cost–such as ceiling heights of 9 feet versus 12 or 13 feet; standard versus custom finishes; and a standard versus an extra-wide lot.

Top Chicago Home Sales in June

When it comes to the top five most expensive sales, you’ll find many of these qualities among them: large lots, ample square footage, and locations on some of the most prestigious blocks in Lincoln Park. Here’s a look at the top five in descending order:

542 W Dickens St
Original list price: $4.499 million
Sold price: $4.2 million
This magnificent Lincoln Park home sits on an extra-wide 32.5-foot wide lot. The home was custom built in 2006 with exquisite design, exceptional craftsmanship and outstanding millwork throughout. Ceilings soar to 12-13 feet on all levels, with wide plank walnut flooring and apparent attention to detail throughout each room. This top sale in June spans 6,700 square feet with a fabulous kitchen, spacious great room and a private back terrace.

1935 N Burling
Original list price: $3.7 million
Sold price: $3.15 million
On an extra-deep lot, this Lincoln Park home is flush with luxury features: an attached 3-car heated garage; high ceilings; a full-floor master suite; four fireplaces; a 1,400 bottle wine cellar; and a heated driveway and sidewalks. This Metzler/Hull re-sale offers 6.400 square feet, with a private 38- x 25-foot rear yard., plus elegant millwork, a formal dining room with butler’s pantry, gourmet kitchen and more.

1534 N Dearborn Pkwy
Original list price: $3.125 million
Sold price: $2.9 million
A 5 bedroom, 5,500-square foot beauty in the Gold Coast, this home offers gracious room sizes on its oversized lot. A spacious eat-in chef’s kitchen features professional-grade appliances, while a full-floor master suite boasts a huge bedroom, sunny bathroom and private terrace. Upper-level bedrooms have en-suite bathrooms, while the lower level features a family room, library and game room that lead to rear gardens and a gorgeous backyard.

1858 N Howe St
Original list price: $2.895 million
Sold price: $2.525 million
This stunning, modern, 6,000-square foot home comes with a number of sought-after details like cherry wood floors and doors, 12-foot ceilings and even a perfect new chef’s kitchen that was featured in Better Homes & Gardens. The head-turning kitchen (which also features walnut and glass cabinets, a granite waterfall island with trough sink, and walk-in pantry) opens up to a family room with a new wall of windows that lead to a terrace and serene yard.

3540 N Ravenswood Ave
Original list price: $2.4999 million
Sold price: $2.4 million
With a generous 7,229 square feet, this 6-bedroom home is spectacular and built for entertaining. Featuring a theater, outdoor basketball court, 4,000 square foot deck, endless swimming pool and over 5,000 square feet on the main floor, this is a great home for a large family and for hosting others. On an extra-deep lot, the home also features a 4-car attached heated garage, 10-foot ceilings, 2 kitchens and a private and secure design.

It’s important that buyers familiarize themselves with recent sales such as these–if you’re in the market for a luxury property, looking at the photos and details of recently sold homes gives you an idea of the market, and let’s you plan your own purchase accordingly in terms of what your wants, needs and budget are. For more information on these homes or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.