The numbers are in for luxury single-family homes that sold in May, with total sales just over $40 million and 26 homes sold. Prices on these Chicago homes ranged from $1 million up to $3.65 million, and the top five sold fall into the same “trends” we’ve seen among top sales since the beginning of 2012.
The top luxury sales generally have one thing in common: these are houses the stand out amongst the other luxury homes that are on the market. Larger lot sizes is one feature that has helped many of these homes sell quickly, including 3 of the top 5 in May.
Another common characteristic of these top sales? Great deals. Four out of the top 5 May luxury sales were sold anywhere from $100,000 to $450,000 below the list price in order to make the deal happen. Sellers are still willing to work with buyers on price in order to ensure their property moves on the market—which means buyers are still in a fantastic position to get a deal.
While there are certainly some commonalities among these top luxury sales in Chicago real estate, one thing that was different this month is that none of the homes sold were located in the Gold Coast—one of Chicago’s most coveted neighborhoods near downtown that is known for its luxury properties. Three of the most expensive sales happened in Lincoln Park, another noteworthy location for luxury real estate.
Another thing I’ve noticed among these sales and in talking to my own clients is the importance of location when it comes to school districts. One of the homes sold in May is located near Blaine Elementary School, a magnet cluster school that many are eager to get into. I’m finding that more clients are requesting to see and purchase homes within certain school districts, even if they do not yet have children—they’re certainly planning in advance. For more information about schools in each neighborhood, magnet schools, charter schools, etc., email me and I’ll be happy to send you more information.
If you’re in the market for a luxury Chicago home or condo, I always tell buyers that it’s to your benefit to see an entire list of homes or condos that sold in the previous month. This gives you a good idea of what types of homes sold, in what condition, and for what price. Here’s a look at the top five single-family home sales from May, starting with the top sale:
2015 N Dayton St
Original list price: $3.899 million
Sold price: $3.650 million
A Chicago new construction property built on a 33-foot-wide lot in Lincoln Park, this home boasts 7,000 square feet with six bedrooms and a penthouse great room. Interior features include top-of-the-line finishes, an open floor plan between the kitchen, family room and back deck, two roof decks, plus a media, exercise and guest room on the lower level.
3804 N Janssen Ave
Original list price: $3.295 million
Sold price: $2.950 million
This home is a gem in Chicago real estate, built on an oversized corner lot with a generous 7,300 square feet inside, more than 1,700 square feet outside, plus a 3-car garage. This stunner also features a grand custom spiral staircase, 3-zone chef’s kitchen, huge butler’s pantry, and more.
1828 N Orleans St
Original list price: $2.450 million
Sold price: $2 million
One of Chicago’s modern architectural masterpieces by architect Larry Booth, this East Lincoln Park home has been called the “House of Light” for its front and rear window walls, and a huge skylight diving in through the center of the home. This luxury Chicago home also includes a new de Giulio kitchen, a master suite with dual new bathrooms and a limestone and granite exterior.
1121 W Lill Ave
Original list price: $1.995 million
Sold price: $1.840 million
Lill Street is what many love about Lincoln Park—a quiet, tree-lined street near city parks and with beautiful homes like this one. This 5-bedroom, 5,000 square foot home includes a dramatic open center staircase with unique architectural details and bringing in exceptional natural light. The home includes a huge custom kitchen with commercial grade appliances, high ceilings, a penthouse rec room, and location in the Oscar Mayer School District. Behind the home is 1,000 square feet of deck space for taking in warm Chicago summers.
2019 W Giddings St
Original list price: $1.795 million
Sold price: $1.795 million
This is a Chicago new construction property in Lincoln Square. With 7 bedrooms, 4.2 bathrooms and 5,100 square feet, this home sits on an oversized 37.5 x 124 foot lot. Inside, you’ll find signature finishes, custom cabinetry and millwork, a large, open floor plan, plus a 3-car garage and deep backyard around back. I’ve noticed that buyers are gravitating to northern neighborhoods like Lincoln Square more than in previous months.
Those are just five of the luxury Chicago home sales for May—to obtain a first-hand look at what you can get for your budget, I can gladly send you additional sales for comparison. Call me or email me, and I can send you a full list via email, including links that allow you to see photos of properties, all the way up to the most expensive sale. Contact me at 312-264-5853 or email me at [email protected]