Five Chicago Luxury Homes Sold for More Than $2 Million in March

March was a very interesting month for Chicago luxury real estate, particularly with single-family home sales. The top five sales all fell into the “ultra-luxury” category, selling for more than $2 million each.

Time will tell if the surge of ultra-luxury sales is an isolated situation, or if it could be the beginning of a trend where mega-luxury homes ($3 million and up) experience an uptick like they did last year. Check in next month to see if these high-priced homes continued to close in April. Regardless of price trends, it is clear that luxury buyers are looking for space—square footage, in-law suites and ample yard space.

This is often found in homes built on large lots. Buyers are going beyond the heart of key neighborhoods to find these sized homes. Lincoln Park is one of the most sought-after neighborhoods, but as large lots become more and more scarce and the cost of land increases, buyers are looking elsewhere, such as Lakeview and Bucktown.

It’s also worth noting that many of these homes sold for significantly below the asking price. This is the result of strong negotiation strategies on behalf of the buyer, which is something I always work to achieve for my clients. When negotiating a purchase offer, I strongly consider cost per square foot, time of the marketing and any history of the home as it pertains to real estate. It’s important to see what has happened with a home in the last year, to ensure it didn’t experience a reduction in price or get re-marketed as a new listing.

As we look at the top five Chicago homes that sold last month, remember that importance of space and lot size. Consider the negotiation that must be involved for these properties, given that these buyers each obtained a bit of a discount, despite the homes each boasting this coveted feature, larger lot size that allow for larger rooms.

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

1931-n-hudson1931 N Hudson Ave
Original list price: $3,499,900
Sold price: $3.3 million
A total stunner in East Lincoln Park, this home was the highest price sale last month, and it’s easy to see why. With 6,600 square feet on a highly sought-after street, the home features a huge functional living space with 12-foot ceilings, Brazilian walnut floors, custom lighting, professional grade appliances and an elaborate smart home system. Extensive millwork with built-ins can be found throughout, done with an unparalleled level of sophistication and finish. A number of additional features include custom window treatments, master bath with spa-like feel, lower level family room with separate play space a custom-designed commercial wine room, professionally landscaped front and rear yards, two-tiered deck off great room and kitchen, and a sky-lit first floor breezeway that connects to an attached two-car garage.

3922-n-greenview3922 N Greenview Ave
Original list price: $2.839 million
Sold price: $2.695 million
Just two years old, this stunning custom home is in pristine condition, situated on a family-friendly, quiet block in the Southport Corridor. The home was built extra wide, on an extra deep (165 feet) lot, with 6,200 square feet that includes seven bedrooms (four on one level). The home’s lower level has a custom bar with walk-in wine room, playroom and additional pantry, making this space an entertainer’s dream. No detail has been overlooked, from the five-inch walnut floors to the high ceilings, the radiant heated floors to the elevator. This home also features an in-law suite on the third floor. A covered raised stone patio with a built-in grill overlooks an amazing 25-foot x 45-foot yard. And this home is two blocks to Blaine School, one of the most coveted schools for Chicago parents.

61-e-elm61 E Elm St
Original list price: $2.9 million
Sold price: $2.6 million
This row home is history on the outside (a 1885 renovated façade) and updated for modern living on the inside (gutted to the studs and rebuilt with superior finishes and timeless design). With 5,200 square feet, this home is great for family living and entertainment. Find a calming vibe with orientation to the the outdoors, including a terrace, balcony, huge deck with city views. Interior details are abundant, with such as a marble-surround fireplace and crystal chandelier in the living room, custom built-in kitchen, hardwood oak floors on three levels, heated floors in all bathrooms, Sonos audio system and an ABT security system. The lower-level fourth bedroom makes an ideal nanny or in-law suite. Not to mention, this Gold Coast home is in a great location, close to the Magnificent Mile, dining spots and Lake Michigan beaches.

4439-n-hamilton14439 N Hamilton Ave
Original list price: $2.675 million
Sold price: $2,505,563
This stunning Chicago home has everything: location, width, light, space and beauty inside and out, right in the heart of Lincoln Square. Built on a huge lot—37.5 x 177 square feet—with a huge yard and wide interior space, the home was built in 2008 and boasts an interior design by HGTV designer Meg Caswell. The huge backyard is like a personal private park, with Ipe wood and wrought iron front porch. Inside is a number of carefully appointed details for the most discriminating buyer, including high end finishes and an absolutely perfect floorplan. The gorgeous kitchen, great room, formal dining room and living room stretch up to 11-foot ceilings. A master suite includes a large master bedroom, walk-in closet and a hotel-quality marble master bath with soaking tub.

1360-n-state-pkwy1360 N State Pkwy
Original list price: $2.48 million
Sold price: $2.2 million
Inside this historic Gold Coast Greystone, you’ll find 4,000 square feet across and open floor plan and three stories. This Chicago home boasts 11-foot ceilings, a first-floor living room and parlor with two wood-burning fireplaces, plus a Bluestone patio accessible through dining room French doors. The second-level master suite includes a second bedroom that could be used as a sitting area with private terrace, overlooking a beautifully landscaped backyard. This home’s top floor features two bedrooms, an office and a hall bathroom, while the lower level includes radiant heated floors and two entrances to allow the space to function as a guest suite. This location in the Gold Coast is highly sought after as well, just blocks from great schools, parks, shopping, restaurants and the Magnificent Mile.

It’s a great idea for buyers to be aware of what’s recently sold in Chicago real estate to understand the market climate and what you can expect when you’re prepared to make an offer yourself. For more details on the properties that sold last month or to see what’s available now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Luxury Single-Family Homes Sales in Chicago Weaker in February

For buyers who were ready to make a purchase last months, deals were certainly to be had. Looking at the February sales for luxury single-family homes in Chicago, it’s clear that sellers who have had their properties on the market for some time opted to sell at a reduced price and not hang on further.

With the prediction that interest rates are going to increase this year and an uncertain political environment, it’s possible that we could see the real estate market turn back to a buyer’s market. More undecided buyers might stay on the fence rather than making a move, which would create less competition in the market. But, it’s still early, and luxury sales in March should provide more of an indication one way or another.

In the meantime, the top single-family homes that sold in February pointed toward a few clear wants among luxury buyers: namely, new construction and extra-wide lot sizes. At least one of these two features are among the top five most expensive homes that sold last month.

Looking at what sold in the previous month is a great idea for buyers who want to understand what the market looks like before they head to the negotiating table themselves. I always recommend my clients see what types of properties and features are selling for top dollar, then seeing how those compare to their own budget. That way, there are no surprises or unexpected dollar signs when you’re ready to make your own offer.

With that, here’s a more detailed look at the top luxury homes in Chicago that sold last month, in descending order.

34 E Bellevue Place34 E Bellevue Place
Original list price: $3,999,999
Sold price: $3.75 million
This Gold Coast renovation was the top sale for the month, located on one of the very best streets in the neighborhood. The property boasts a one-of-a-kind style, elegance and timeless modern luxury with impressive custom millwork, magnificent LED lighting, an expansive outdoor terrace and decks and sun-filled rooms throughout. A luxurious master suite includes a marble bath with dual vanities with hidden mirror TVs and a separate soaking tub, huge steam shower and smart use of space. The chef-inspired gourmet eat-in kitchen has high-end appliances, wine cooler, huge marble island and opens via French doors to a large terrace with great outdoor dining. The coveted Gold Coast location is just one block from Oak Street Beach, Michigan Avenue shopping, restaurants and parks.

1225 W George St1225 W George St
Original list price: $3.995 million
Sold price: $3.6 million
A fabulous home with a 75-foot stretch of frontage, this property was transformed by famed architect Larry Booth in 1999 and was since won an AIA award. Its 7,400 square feet allow for an open floor plan and a design that boasts amazing sight lines from the front courtyard to the private deck. Incredible architectural details include concrete-beamed ceilings, large windows, oversized poured concrete slab floors with radiant heat and floor-to-ceiling custom fireplace. The kitchen (a stunner with stainless steel appliances, wine cooler, warming drawer and seamless granite countertops) opens to a large, inviting family room. The dramatic dining room with a floating wall conceals a butler’s pantry and half bath. The large master suite looks onto an incredible 40-foot indoor lap pool, with a master bath boasting a soaking tub, separate shower and private outdoor terrace. Additional living spaces offer even more space, like a huge studio that could be a separate commercial office and an incredible fifth bedroom that could serve as a playroom, nanny’s quarters or sleeping area.

2131 W Agatite Ave2131 W Agatite Ave
Original list price: $2,249,999
Sold price: $2 million
5,100 square feet
This newer construction home in Lincoln Square has been highly customized. Situated on an extra-wide, 37.5 foot lot on an quiet, tree-lined street, this home ensures no detail has been spared in thoughtful design and functionality. There are 12-foot ceilings throughout the main level, along with two wood-burning fireplaces, and a kitchen will all the bells and whistles: Twin Subzero built-in refirgerators, double Wolf oven and gas range, dual Bosch dishwashers, built-in Miele coffee/cappuccino maker and two wine beverage refrigerators. The large master suite has huge dual closets and a spa-like master bath with heated floors, a two-person steam shower and separate Jacuzzi tub. Outdoors, you’ll find an amazing finished roof deck with a veranda, outdoor TV, dual-tap built-in beverage chiller, grill, fans and gas firepit.

1455 W School St1455 W School St
Original list price: $2.099 million
Sold price: $1.995 million
This is a brand-new construction property in the Southport Corridor. Starting with a brick and limestone façade, this 4 bedroom, 5.2 bath home has been tastefully designed through and through, with elegant millwork and ceiling treatments, custom kitchen cabinet design and more. Also included are high-end bathrooms, commercial-grade appliances, large family and rec rooms and an amazing patio and rooftop deck.

4513 N Paulina St4513 N Paulina St
Original list price: $2.15 million
Sold price: $1.885 million
This 7 bedroom, 4.2 bath new construction home spans a whopping 5,700 square feet, thanks to an extra-wide, 35 x 163 foot lot. This brand-new modern masterpiece exhibits the most high-quality, master craftsmanship inside and out, with state-of-the-art finishes, top-of-the-line appliances, volume ceilings and much more. The square footage allows for expansive room sizes, and the whole house boasts amazing width, depth, flow and natural light. The outdoor space features a large rear deck and 1,000 square foot backyard. Located in a desirable Ravenswood/Lincoln Square location, this home also offers easy access to the El, Metra, shops, restaurants and entertainment.

For more information on last month’s sales or to see what’s on the market now, contact Sheldon Salnick 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.

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.

Chicago Real Estate Sales in August Were All About Lincoln Park

Chicago single-family home sales in August continue the trend we saw in July—the most expensive homes sold are in the $2 million to $2.9 million range. Luxury real estate in Chicago typically exceeds that $2.9 million figure. In fact, in many recent months we’ve seen the sold price on the most expensive homes exceed $4 million. Sales in the luxury sector continue to be strong, but price-wise are trending a bit lower.

Jumbo Loans Apparent in August Sales

Another interesting note about last month’s home sales is that, of the nine most expensive homes, only one was for cash. The rest were financed with mortgages. In previous months, we’ve seen many cash buyers for even the priciest homes sold, but the fact that people are pursuing mortgage loans is likely due to the fact that jumbo loans (those for more than $417,000) are more readily available.

Banks are becoming more lenient about lending jumbo loans, and those who qualify for them can get an incredible rate right now—under 4% for a 30-year fixed-rate loan. Currently, the rates for jumbo loans are even unexpectedly better than those for a conforming loan (those under the $417,000 mark).

Chicago Luxury Real Estate Sales in August

The month’s most expensive (and interesting sale) was a beautiful property in Lakeview. The home is newly built with all of the features today’s buyer is looking for, including a location in one of the best school districts in the city. People with children are flocking to these highly regarded districts to avoid sending their children to private school, which can run a tab of $20,000+ per year and be challenging to get into.

But the majority of the top sales in August were found in Lincoln Park—6 out of the 9 most expensive homes sold were in this highly desired community. I’ve worked with many clients to find properties in this phenomenal neighborhood, from mid-range Chicago condos to luxury single-family homes (find more on my background here, and work with past clients here).

If you’d like details on those top 9 properties sold in August, I’d be happy to send along photos and details of each home. But here, we’ll take a closer look at the top 5 sales on the luxury market last month:

3615 N Lakewood Ave
Original list price: $2.9 million
Sold price: $2.995 million
In the Southport Corridor and the Blaine School District, this extra-wide property boasts an open floor plan, stunning kitchen with custom cabinetry, a theater room and wine cellar. Outside you’ll find a heated lap pool, a snow melt system and 3-car heated garage. This Chicago new construction property also features 5 bedrooms and a master bath with all of the bells and whistles you can think of: steam shower, body sprays, soak tub, sauna and heated floors.

643 W Arlington Pl
Original list price: $4.75 million
Sold price: $2.825 million
A soft contemporary home in Lincoln Park, this property spans a whopping 8,500 square feet on a park-like 50 ft x 175 ft lot. Its unique features include an indoor lap pool, rear lawn, all-glass rear exterior and attached studio apartment with separate entrance. This urban estate perfectly merges the comfort of the suburbs with the convenience of city living, with parks, the zoo, shop and restaurants all within walking distance.

2248 N Burling St
Original list price: $2.89 million
Sold price: $2.775 million
This home was another rare opportunity in Lincoln Park, with a spectacular limestone house just steps form Oz Park and in the Lincoln Park School District. With 5 bedrooms and 5,600 square feet, this home has a long list of covetable features: a studio coach house over the garage, the finest finishes (like Calcutta Gold counters), spa master bath, rec room, and a deck.

1639 N Burling St
Original list price: $2.65 million
Sold price: $2.48 million
A single-family home exquisitely designed down to every detail, this breathtaking 5-bedroom in (you guessed it) Lincoln Park defines sophistication. With a lavish master suite, Brazilian Cherry floors, heated floors on the lower level, a custom wine cellar, and skyline views from the rooftop deck, there is a lot to love about this Chicago home.

75 E Elm St
Original list price: $2.8 million
Sold price: $2.45 million
Ample space is at the center of this Gold Coast home, with 7 bedrooms and 6,385 square feet. Renovated in 2000, this home is filled with natural light among the formal living room and dining room, chef’s kitchen, and 4 en-suite bedrooms. The lower level’s outdoor access makes it adaptable for a mudroom, game room or exercise space.

It will be interesting to continue keeping an eye on the luxury real estate market and how it’s trending over the next few months. I’m curious to see if jumbo lending continues to grow, and if luxury real estate in Chicago continues to sell at lower price points than we’ve seen earlier in the year.

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

Is an Unusual Trend Developing in Chicago Luxury Home Sales?

Looking at last month’s sales number for homes sold on the Chicago real estate market, there’s an interesting shift in the properties that closed.

With 56 luxury homes (those priced over $1 million) sold, 93% of them were sold for under $2 million—only 4 sales surpassed the $2 million mark. In recent months we’ve seen the top home sales be far upward of that price point, so this is an intriguing point to note.

There are a few potential explanations: It could be that homes priced over $2 million are more difficult to sell, given that banks are continuing to be selecting in handing out loans to upper-end buyers. There may not be as many cash buyers around as we see in the beginning of the year. And concern about rising interest rates could also be a factor for potential buyers in the luxury market.

But whatever the reason, it’s clear that the $1 million – $2 million range was a hot one for Chicago real estate sales in July. Even with that change in price points, the sales volume of luxury homes still totaled $79 million for the month.

As far as more regular trends go, oversized lots continue to be sought after on the luxury market. Four out of 5 of the most expensive home sales were found on lots that are larger than the standard 25 x 125 feet.

Here’s a closer look at the top five sales in July, including those top 4 for $2 million-plus and the top under $2 million sale in Chicago:

Chicago luxury home sales July2715 N Lakewood Ave
Original list price: $3.85 million
Sold price: $3.86 million
A custom single-family property on a double lot, this Chicago home was just built and gave the buyer a chance to pick some of the interior finishes. The home is located on a new block with all new construction and a new park, making it ideal for a family. Spanning 7,900 square feet, four of the home’s six bedrooms are on the second level, including a huge master suite, with two bedrooms on the lower level with a rec room and wine cellar. Other features include a library, massive chef’s kitchen, family room with vaulted ceiling, rear terrace, a huge yard and attached 3-car garage.

Chicago luxury home sales July17 E Goethe
Original list price: $3.5 million
Sold price: $3.425 million
Sold even before the listing sheet was printed, this exquisite, 1880 semi-detached brownstone on an extra-deep lot was is comprised of 6,000 square feet, five bedrooms, 2 studies, and a 2-car attached garage. Having undergone a gut remodel only 10 years ago, the home features all new systems and interior finishes (such as stainless steel, marble and birch in the professional kitchen), new copper trim, all oak floors, a wood burning fireplaces and new master suite. With north, south and west exposures, this home is flooded with natural light.

4439 N Hamilton Ave
Original list price: $2.689 million
Sold price: $2.589 million
Another property sold before print, this Lincoln Square 6-bedroom was designed by HGTV’s Meg Caswell. The oversized lot (37.5 x 177 feet) makes it especially coveted for the space alone. Plus, the interior boasts cathedral ceilings, a skylight, hardwood floors and butler’s pantry.

Chicago luxury home sales July1729 W Wolfram St
Original list price: $2.449 million
Sold price: $2.2 million
This newer (built in 2004) home is elegant, refined perfection that takes luxury living to a new level. The professionally designed interior features integrated smart home technology, six perfectly appointed bedrooms, 4 luxury baths, 3 powder rooms, a home theater and outdoor entertainment center. The home sprawls 6,850 square feet, with cathedral ceilings, a skylight and 3 outdoor decks.

Chicago luxury home sales July1325 W Melrose Ave
Original list price: $1,999,500
Sold price: $1.984,500
In the sought-after Southport Corridor, this gorgeous brick and limestone home was built in 2005 on an extra-wide lot and specified to an R4 zoning standard—meaning it’s taller and wider than other newer homes in the area. Inside, the expansive interior is lined with rich wainscoting, and a beautiful layout puts three bedrooms on the second floor and a full third floor with office/bedroom, library and access to outdoor decks. A professional kitchen is also fitted with appliances from Wolf, Sub-Zero and Bosch.

I will continue to keep an eye on this potential trend to see if last month’s sales were simply an anomaly or a sign that luxury real estate sales are undergoing a change. July especially can be a tricky month, with the heart of summer and family vacations in full swing. Be sure to check back next month to see how this develops.

For photos or additional details on last month’s Chicago home sales or to see what’s on the market now, give me a call at (312) 498-5080 or email me at ssalnick@dreamtown.com.

A Chicago Lakeview Luxury Home is the Most Expensive to Sell in February

February was an interesting month for Chicago real estate sales. Luxury homes that sold during the month ranged from $1 million to $2.75 million, which is quite a bit lower than the highest price sale we’ve seen in recent months. A total of 20 single-family homes closed for a total of $30.9 million.

When looking at the previous month’s sales, it’s often apparent that the luxury properties moving on the market are following some sort of trend—i.e., they are mostly new construction, or in the same neighborhood, or boasting incredible space or square footage. The most expensive home sold in February certainly stands out on the market, but for different reasons than we often see, including a few unique features, its location in a coveted school district and the fact that it’s actually not located on a lot-and-a-half or a double-wide lot—something many recently-sold homes have been.

Here’s a closer look at that top sale in Lakeview, along with the next five priciest sales in February:

3735 N Greenview Ave
Original list price:
$2.7 million
Sold price:
$2.75 million
The most expensive home to sell in February, this 6-bedroom, 4.2 bath stunner has all the bells and whistles you would expect. On a 30 x 125-foot lot in Lakeview, this year-old home features a custom chef’s kitchen with commercial-grade appliances, a built-in banquet, a huge family room, spectacular master suite and a unique attached breezeway. The outdoor space includes a private raised rear yard patio with an outdoor fireplace and roof deck. And, it’s Southport Corridor location puts this home in the Blaine School District, which is one of the city’s best and a key factor for many buyers today.

35 E Elm St
Original list price:
$2.575 million
Sold price:
$2.425 million
This Chicago home in the Gold Coast has all the newness of a new construction property with the vintage charm of its neighborhood—the home was rebuilt from the ground up, leaving the front facade but fitting the interior with 4 bedrooms, 2 full kitchens and 5 living areas. The home also features generous outdoor space in 3 separate areas, an elevator, designer appointments throughout, and a full separate apartment.

1434 N Mohawk Ave
Original list price:
$2.499 million
Sold price:
$2.105 million
Truly one of a kind, as this Old Town home was custom built on a 31 x 132-foot lot, allowing for a wide-reaching space and huge backyard. Five bedrooms and 4.1 baths span approximately 7,000 square feet with 3 bars, a huge living and dining room, family room and kitchen, vaulted ceilings with skylights and a stunning office overlooking the first floor. The amenities read like that of a four-star hotel, with an outdoor hot tub, gym, steam room and large movie theater room. A huge recreation room and full kitchen sit on the lower level that can serve as in-law or nanny quarters.

1720 N Cleveland Ave
Original list price:
$2.35 million
Sold price:
$1.9 million
An extraordinary property in Old Town, this 4 bedroom, 4.5 bath home receives amazing light through large windows that allow for views of the city skyline and St. Michael Church. With a Southern California style, this home spans over 5,000 square feet with a terrace, deck, office and media room, and generous storage space. and an all-over open floor plan. A finished lower level features a bedroom, bathroom, kitchen, laundry and recreation room.

2342 N Wayne Ave North
Original list price:
$1,799,900
Sold price:
$1,752,000
This new construction property in Lincoln Park was a must-see on the market. A five bedroom, 3.2 bath, this home featured everything form stunning custom millwork to coffered ceilings to a theater room and wine cellar. An incredible kitchen boasts custom cabinetry, Subzero and Wolf appliances and a butler’s pantry. Other enviable features of this luxury home include custom closets, four fireplaces, a steam shower and great outdoor space with a main level and 3rd level deck.

For more details about February’s Chicago real estate sales or to see what’s on the market now, contact me at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Check Out the Stats for the Most Expensive Chicago Home Sales in December

I’ve said before that, despite the volatility in real estate markets across the country, luxury real estate in Chicago has done relatively well holding its own. And despite the ups and downs, high-end buyers seem to be driven to the same features in luxury properties: lots of square footage, large lot sizes and great neighborhoods.

Last month, 34 luxury homes (those starting at $1 million) sold, totaling $61 million in sales. The five most expensive homes ranged in price from $2.9 million up to $6.2 million. It’s a great idea for buyers to review these sales, as it can give you great insight into what’s selling at what price and how that fits into your own situation.

If you would like to take a closer look at past sales or what is currently on the market, call me or email me at ssalnick@dreamtown.com and indicate the price range of homes you’d like to see. I can send you links for the photos and descriptions of the properties you can review, as well as information as to why certain properties sold at the price that they did—no cost or obligation on your part.

Luxury Chicago Homes Sold in December 2012

In the meantime, here is a more detailed look at the five most expensive Chicago home sales during December, in ascending order:

4431 N Hermitage Ave4431 N Hermitage Ave.
Original list price: $2.85 million
Sold price: $2.85 million
This 6 bedroom/6 bath Chicago home in southeast Ravenswood sold as quickly as it was listed. Built in 2003, this home sits on a huge lot spanning 50 x 165 feet.

 

3743 N Greenview Ave3743 N Greenview Ave.
Original list price: $3.25 million
Sold price: $3.05 million
Located in Lakeview in the Southport corridor, this 6,481-square foot home was built in 2010 and features over $500,000 in upgrades, including custom decorating, custom finishes, fine millwork and cabinetry throughout. A breezeway attached to the 3-car garage overlooks a private courtyard. This home also features a penthouse rec room, two green roofs, amazing outdoor space and five fireplaces.

632 W Belden Ave632 W Belden Ave.
Original list price: $2.75 million
Sold price: $3.05 million
Also located on an extra-wide lot of 50 by 135 feet, this East Lincoln Park home boasts five bedrooms with a wrap-around porch, greenhouse kitchen, beautifully landscaped grounds and a 2-car garage with a coach house adjacent to an additional 2-car garage.

461 W Superior St461 W Superior St.
Original list price: $3.945 million
Sold price: $3.6 million
Spanning a whopping 11,000 square feet of a 34 by 109-foot lot, this huge Chicago home is found in the coveted Kingsbury Estates. Custom built with dramatic rooms and architectural features, this Chicago home features a grand staircase, a custom kitchen, three terraces and a 1,700 square foot rooftop garden with south city views.

1525 N State Pkwy
Original list price: $6.995 million
Sold price: $6.225 million
Chicago’s Gold Coast is one of the most desirable neighborhoods for luxury real estate, and this elegant and timeless home is right in the heart of it. With more than 8,000 square feet and 6 bedrooms, this home has everything from a paneled library to a landscaped terrace, to an media room and 6 fireplaces. With 40 windows facing the Cardinal’s mansion, this home received abundant light and offers fantastic views of this coveted neighborhood.

If you’re looking to purchase a luxury Chicago home, reviewing last month’s sales is a great start to give you an idea of what’s out there. To see more of what sold last month or see what is on the market now, give me a call at (312) 498-5080 or email me at ssalnick@dreamtown.com.

Chicago Luxury Home Sales in July: Less Expensive Homes Sold, Totaling $56 Million

We continued to see a strong number of luxury home sales in Chicago last month, but a new trend shows that sales in July skewed toward lower-priced properties than we’ve seen in recent months. Of the 37 homes that sold during the month of July, 30 of them sold for under $2 million, ranging in sales prices from $1 million (the starting point for luxury real estate) and ran up to $1.967 million. Only 6 of the Chicago homes that sold in July were over $2 million, with the most expensive home selling for just $2.9 million–quite a difference from the recent sales that have been over the $5 million mark.

What Buyers Want in Chicago Real Estate

Despite the lower prices, the five most expensive homes sold in July continue to demonstrate that buyers want something out of the ordinary when purchasing a Chicago home. Things like large lot sizes, homes in excellent condition, and sellers that are sweetening the deal by negotiating offers to below the asking prices are all factors in homes that are moving on the Chicago real estate market.

The top homes sold in July all sold for substantially lower than the asking price. Luxury real estate buyers want to be able to get a deal–and they do seem able to negotiate, particularly if the home isn’t new construction or something that can be customized to the new buyer’s wants and needs.

Chicago Homes Sold in July

Taking a closer look at the top properties sold in July, it’s clear that when buyers find what they’re looking for, they’re snapping it up fast. Many of these properties had little time on the market, as desirable properties with unique features are moving quickly. Here are additional details on the top five:

634 W Fullerton Pkwy
Original list price: $3.45 million
Sold price: $2.9 million
Lot size: 175 ft x 30 ft
While this home was originally built in 1880, it was completely rebuilt and updated with a custom Nuhaus kitchen, Brazilian cherry floors and other upgrades to put it in mint condition. A stunning millwork staircase runs through all four light-filled floors on the inside, with beautiful landscaped gardens on the outside on this rare, deep lot.

1213 W Henderson St
Original list price: $2,949,999
Sold price: $2.65 million
Lot size: 79 ft x 142 ft x 14 ft x 127 ft
Sold almost as quickly as it was listed, this six-bedroom home was built in 2007, featuring 6,800 square feet of living space on an oversized, irregular lot.

2614 N Greenview Ave
Original list price: $2.995 million
Sold price: $2.63 million
Lot size: 30 ft x 125 ft
Another home on a wide lot, this immaculate brick and limestone home was custom built with six bedrooms, seven baths and a large, open floor plan. The home includes a gorgeous chef’s kitchen with butler’s pantry, stunning finishes and details, plus abundant outdoor space with multiple decks and a yard. And you can’t beat this home’s Lincoln Park location, just steps from Wrightwood Park.

3740 N Wayne St
Original list price: $2.499 million
Sold price: $2.490 million
Lot size: 30 ft x 125 ft
This large-lot new construction home is on a great block in the heart of the Southport corridor, only two blocks from Blaine Elementary School (ranked one of the city’s best public schools). This brick and limestone home was built with a breezeway to its 3-car garage, a professional integrated kitchen, a snowmelt system and smart wiring.

2135 N Hudson Ave
Original list price: $2.499 million
Sold price: $2.47 million
Lot size: 26 ft x 105 ft
Another home that was sold almost as quickly as it was listed, this home went through a total renovation in the last five years, making it as good (and probably as covetable) as new. The renovation fitted this home with high-quality finishes throughout, a totally new kitchen with SubZero, Miele and Wolf appliances and luxury down to each detail. With three bedroom and three baths on the upper levels, the lower level features a wet bar, full bath and extra bedroom.

If you’re a buyer today, why look at homes that have already sold? Having an understanding of what is selling in the neighborhoods you’re interested in (and at what price) gives buyers the upper hand when it comes to negotiating price on a deal. Looking at comparable sales can also give you an idea of what you can get for the budget you’re working with.

To take a look at other home sales from the month of July or what’s on the market now, contact me at 312-264-5853 or at ssalnick@dreamtown.com.