Chicago Luxury Real Estate Sales Totaled More than $350 Million in 2011

Chicago Luxury Real Estate Sales Totaled More than $350 Million in 2011

As we push forward into a new year, it’s important to take a retrospect on the Chicago real estate market. While some areas still reported a dismal year for 2011, luxury real estate in Chicago continued to sell—more than 200 homes priced at $1 million or higher sold in the city of Chicago for a grand total of $382 million.
For buyers in 2012, it’s key to take a look at the properties that sold in 2011. This gives new buyers and opportunity to see what kinds of homes are selling on the market and what type of home you can get for your budget. I would be happy to send you the details on these home sales, such as room sizes, lot size, and other appropriate information so you can get to know what the Chicago luxury market is all about.  This is an opportunity to get a personal tour of the most expensive properties sold in 2011, information that will assist you with your own purchase and give you an understanding of the various home sizes, neighborhoods, even specific streets in Chicago.
For sellers, information like this can help you determine what your home is worth and the condition it will need to be in to be competitive in the Chicago real estate market. Simply contact me and I can send along photos and descriptions of each property and answer any questions you have to help you learn the luxury market in detail.

Top 20 Sales in Chicago Luxury Real Estate

Luxury real estate in Chicago is that which is priced at $1 million and higher. Of the 221 luxury homes sold in 2011, the 20 most expensive homes ranged from $2.77 million all the way up to $5.78 million. The most expensive homes at the top of the list fell into the city’s most desirable neighborhoods—of the top 20:

  • 55% were in the Lincoln Park neighborhood
  • 30% were in the Gold Coast
  • 10% were found in Lakeview
  • 5% were located in Logan Square.

It’s no question that the Gold Coast, Lincoln Park and Lakeview are the most coveted neighborhoods in Chicago, known for everything from great location and schools to dining and entertainment. But what is it about the homes in these neighborhoods that continued to sell during a volatile 2011?
Let’s count down the top 20 luxury homes sold last year, starting with
1425 N State Pkwy1. 1425 N State Pkwy
Original list price: $5.75 million
Sold price: $5.78 million
Key features: 30’ x 130’ lot, 8,000 square feet, 9- and 10-foot ceilings, 6 bedrooms, a chef’s kitchen and more.
2. 1523 N Dearborn Pkwy
Original list price: $5.75 million
Sold price: $5.3 million
Key features: Recently rehabbed, 8,000 square feet.
3. 1432 N State Pkwy
Original list price: $7.25 million
Sold price: $4.985 million
Key features: Classic 1880s style home, maid’s quarters, a workout studio, a double-wide lot and more.
4. 1933 N Burling
Original list price: $4.825 million
Sold price: $4.525 million
Key features: On 33-foot wide lot, with penthouse space, skyline views, and state-of-the-art mechanicals throughout.
5. 1358 N Dearborn St
Original list price: $5.25 million
Sold price: $4.5 million
Key features: Solid walnut floors, roof deck, 13-foot ceilings, in the Gold Coast.
6. 2043 N Clifton
Original list price: $4.495 million
Sold price: $4.2 million
Key features: Custom-built home on a wide lot, custom cabinetry and millwork, amazing views.
7. 1318 N Astor St
Original list price: $4.75 million
Sold price: $4.154 million
Key features: Recently renovated with new 4th floor office, heated outdoor terrace, nearly 7,500 square feet.
8. 1853 N Orchard St
Original list price: $4.5 million
Sold price: $3.965 million
Key features: Stunning architectural detailing, two large roof decks with 360-degree views.

9. 2225 N Lakewood Ave
Original list price: $4.195 million
Sold price: $3.850 million
Key features: Triple lot home with 8,600 square feet on two levels, 16-20 foot ceilings, private garden.
10. 1207 N Astor St
Original list price: $4.25 million
Sold price: $3.75 million
Key features: Extra-wide lot in the gold coast, generous space, great room, penthouse level, terrace space, attached garage.
11. 2856 N Hermitage Ave
Original list price: $4.495 million
Sold price: $3.65 million
Key features: 10,000+ square feet, custom-built, overlooks city park, half court basketball court.
12. 1905 N Howe St
Original list price: $3,628,729
Sold price: $3,628,729
Key features: Nearly 6,000 square feet in Lincoln Park.
13. 1927 N Cleveland Ave
Original list price: $3.69 million
Sold price: $3.4 million
Key features: French-inspired design, 12-foot ceilings, three terraces, prime location near zoo, park and lake.
14. 3618 N Greenview Ave
Original list price: $2,999,999
Sold price: $3,250,000
Key features: 4-car attached garage, private outdoor space, luxury master quite and dressing rooms.
15. 441 W Belden Ave
Original list price: $4.7 million
Sold price: $3.115 million
Key features: Double lot, 6,300 square feet, premier location, in-law’s quarters.
16. 2040 N Kenmore Ave
Original list price: $2.995 million
Sold price: $3,002,145Key features: 5,20 square feet, two-tiered deck, penthouse room, massive roof deck.
17. 1728 N Cleveland Ave
Original list price: $3.375 million
Sold price: $2.925 million
Key features: Top quality media system, true backyard, roof deck, 6,500 square feet, carved limestone facade.
18. 2113 N Clifton
Original list price: $2.9 million
Sold price: $2,836,303
Key features: Customizable layout, penthouse room, rec room, exercise room, 5,200 square feet.
19. 2708 N Lakeview Ave
Original list price: $2.5 million
Sold price: $2.8 million
Key features: David Adler home from 1915, recently updated, 15-foot glass solarium, 7,500 square feet.
20. 1804 N Leavitt St
Original list price: $3.095 million
Sold price: $2.77 million
Key features: Warehouse converted to 8,600 square foot home, oversized rooms, soaring ceilings, architectural detailing.
For buyer’s in today and tomorrow’s Chicago real estate market, taking a look at what has recently sold can provide key insight into the market value of different types of homes and help you match what you’re looking for to your budget. For a closer look at the homes that sold in 2011 or to see what’s available now, contact me at (312) 268-5853 or email me at [email protected]