Summer might have just been getting started, but May was one hot market for Chicago luxury real estate. The month saw 81 sales of luxury homes (sold for more than $1 million) for a total sales volume of $120.5 million
It’s no surprise that the top three most expensive sales were in Lincoln Park, two of them on ultra-exclusive blocks that are well-recognized for its luxury homes. North Howe and North Orchard are sought-after streets that are mere steps from the Pritzker home, and the homes that sold on these blocks were on extra-wide lots, which is a very common feature among high-priced luxury single family homes. These larger lots—even if it’s only by several feet—allow for more expansive floor plans, larger rooms and generous square footage.
The top homes, as we saw in May, are also typically in great locations, from the neighborhood to the school district right down to a specific block. Location is indeed everything when it comes to real estate, and if you can find a unique, stand-apart property that’s also in a coveted area, it’s best to act quickly.
Let’s take a look at what sold in May, starting with the most expensive home sold during the month:
1841 N Orchard St
Original list price: $6.1 million
Sold price: $5.625 million
This classic masterpiece is an example of timeless architecture on one of the best blocks in Lincoln Park. Built on a wide lot to span 7,800 square feet, this stunning home was perfected by its interior designer owner to showcase the finest materials. On the exterior, elegant carved limestone and brick give this home an “old world” feel—but the interior is tailored for modern upscale living. A bespoke kitchen features Waterworks features, a farmer’s sink and Calcutta marble with two Sub-Zero refrigerators and freezers. The sumptuous master suite includes a dressing room and morning kitchen. Additional rooms include three ensuite bedrooms, library, game and media room and exceptional wine room. As for those designer details, you’ll also find coffered and coved molding and trim, 9-plus foot doors, walnut and stone floors, a five-stop elevator, two outdoor areas with full kitchens and wood-burning fireplaces and state-of-the-art audio/visual and security. It’s apparent that every square inch of this home was built with expert precision and love.
1848 N Howe St
Original list price: $4.35 million
Sold price: $4.35 million
Howe Street is a premier block in Lincoln Park, and this luxury home captures the essence of a Parisian city home. Located in the Lincoln Elementary School and Lincoln Park High School District, you’ll find 6 bedrooms and 5.2 baths among this home’s 6,450 square feet. And because luxury is often about the details, these are abundant from room to room: a cut limestone fireplace and range hood surround; a reclaimed wood ceiling; a silver-leaf vault; a unique wine cellar, and an expansive, sumptuous master bath. Additional features include a cook’s kitchen with Sub-Zero, Wolf and Bosch appliances, four wood-burning fireplaces and elevator access to all floors.
2702 N Paulina St
Original list price: $2.5 million
Sold price: $2.5 million
An extra-wide lot allows for a generous 5,614 square feet of living space inside this luxury Chicago home. On the outside, classic brick, limestone and copper adorn the exterior, while timeless natural stone, custom cabinetry and millwork, and meticulous attention to detail dress the inside. Masssive windows flank the entire main staircase, bringing uncompromising light to every floor. The main floor features a living room, dining room, eat-in kitchen, great room and fully outfitted mudroom. The second floor boasts four bedrooms and three full baths, including a lavish master suite that includes a spa bath, steam, heated floors and enormous walk-in closets. The top floor features soaring 11-foot ceilings with an ensuite bedroom, massive deck, rec room and wet bar.
3620 N Janssen Ave
Original list price: $2.399 million
Sold price: $2,307,500
A sunlight filled, custom designed home on an extra wide lot, this 6-bedroom home has an extra-wide floorplan that offers expansive room sizes throughout. You’ll find coveted features from the top floor (complete with rec room, wet bar and oversized roof deck built for entertaining), down to the lower level with radiant heat, massive family room and wine storage. The home was custom built with a number of features including floor-to-ceiling living room windows, limestone fireplace, dining room with butler’s pantry and a Jean Stoffer-designed kitchen with Sub-Zero and Wolf appliances and eat-in banquette. The second level is home to four bedrooms, including the master suite with a stunning bath boasting an oversized marble shower with steam, separate vanities and heated floors.
2314 N Cleveland Ave
Original list price: $2.479 million
Sold price: $2.275 million
Located in East Lincoln Park, this 5,900 square foot, 6-bedroom home is on an extra-wide lot, allowing for generously proportioned living space inside. Touted for its exceptional light, views, and serene and private outdoor space, this home was gutted and rebuilt, then updated even further just last year. Features inside include 10- to 11.5-foot ceilings, new hardwood floors, a 4-stop elevator, custom walk-in closets and two fireplaces. The main level offers bright and welcoming living space, while the top-quality kitchen opens to a spacious family room and fenced backyard. All six bedrooms are upstairs, including a luxurious master suite with spa bath, steam shower and whirlpool tub. The lower level is finished into a rec room, mudroom and storage. And the location is within the Lincoln Elementary School District, close to Francis Parker and St Clement School.
Understanding the features of the most expensive Chicago home sales can give you an idea of what buyers are looking for the most, and see how that stacks up to price. Certain characteristics—like an extra-wide lot or custom details—come with a high price tag, and the monthly sales report paints a picture for what that might look like for a buyer.
For more information on the Chicago luxury homes that sold last month or to see what’s on the market now, contact me at (312) 498-5080 or email me at [email protected]