Whether it’s the time of year or the market experiencing a slow down, luxury real estate is slowing down in many parts of the country. But here in Chicago, the high-end market is certainly holding its own, as evidenced by the fact that 14 homes closed for more than $2 million in September. The top five homes sold for the month ranged. From $3.5 million all the way up to $4.5 million.
For clients coming to chicago from New York, Boston, San Francisco or Los Angeles, the city is an especially great place to obtain luxury real estate and a phenomenal rice. A single-family home in other metropolitan areas in the United States goes for significantly more per square foot, despite having many of the same features. Not to mention all of the things Chicago living has to offer beyond that, from culture to shopping to dining and architecture.
Looking at the top Chicago sales for last month, the most expensive properties to sell were often found on larger lots—another feature that isn’t terribly common in other urban areas. A larger-than-standard lot obviously allows for more square footage, but is typically translated to larger room sizes as well, which is something that today’s clients covet in their homes. Large rooms and ample square footage goes a long way for a home’s resale value, as well.
Here’s a closer look at the features and characteristics that helped sell the most expensive properties in Chicago during September, starting with the most expensive:
2219 N Dayton St
Original list price: $4.7 million
Sold price: $4.525 million
An extra-wide, 32-foot parcel allows plenty of space for this 7,000 square foot new construction home. Located on a coveted block in Lincoln Park, this home exudes thoughtful details from the inside out. The exterior boasts a stately limestone façade, while an artfully designed interior showcases custom quality. The grand main level shows off a beautiful, custom staircase and top quality cabinetry and millwork. The home boasts six bedrooms, including a rarely-found configuration with four rooms on the second level, including a dreamy master suite. The home also includes abundant outdoor space, with a walk-out terrace including fireplaces, a huge deck over the garage and multiple penthouse level roof decks. It’s also worthy to note that the buyer of this home paid cash.
1337 N Dearborn St
Original list price: $4.681 million
Sold price: $4.3 million
Originally built in 1880, this award-winning home was rebuilt in 2015 and spans more than 7,200 square feet. Exquisitely curated materials and finishes throughout make for a uniquely luxurious design from room to room. The beautifully crafted kitchen includes Wolf appliances, a large island and marble countertops. A spectacular master suite boasts a spa-like bath, heated floor and two walk-in closets. Each bedroom has a stunning bath and walk-in closet. Other special spaces include a roof deck for sunbathing, cinema room with top-of-the-line entertainment center and 120-foot screen, elevator, sauna, wine cellar, wet bar, rec room, plus expansive outdoor terraces with fireplaces and grills. This home is on a sought-after, tree-lined street in the Gold Coast, close to Lincoln Park, lakefront beache, great restaurants and shopping areas.
1126 W Montana St
Original list price: $3.65 million
Sold price: $3.7066 million
Another new construction property, also on a jumbo 34-foot lot, this home has a 7,200 square foot layout with an optional 4-stop elevator and a coveted 3-car attached garage. Four bedrooms sit on the second level, including a luxurious master suite, huge kitchen and great room with breakfast area. The penthouse level features a giant family room, plus another bedroom suite and roof deck. The lower level boasts a large recreation room, exercise room and guest suite. The buyer of this home had an opportunity to customize the façade, floorplan finishes and style with the highly regarded design/build firm behind the property.
2120 N Seminary Ave
Original list price: $3.35 million
Sold price: $3.32 million
New construction strikes again with this 5,200 square foot home—this one a handsome brick-and-limestone addition to a quiet tree-lined street. The home’s design is bright and airy, with oversized windows for optimal sunlight, rest sawn flooring, Baldwin hardware, limestone fireplaces and custom cabinetry and millwork throughout. Professionally designed natural stone baths have heated flooring, while the luxurious master bath features an oversized steam shower, Rohl fixtures, separate vanities and a private water closet. A tremendous outdoor space includes a generous rear tail with built-in grilling station, garage roof deck and secluded rooftop deck with covered patio and fireplace and radiant heat on the lower level, front steps and rear patio, which leads to an oversized 2-car brick garage.
1746 W Surf St
Original list price: $3.299 million
Sold price: $3.25 million
If large lots are the ultimate feature for buyers, then this home should have lured them like bees to honey. This remarkable double lot—54 by 116 feet—makes way for an 8,000 square foot property with stunning architecture and exquisite construction. Located on a private cul-de-sac, the home boasts a huge backyard with padded playground turf, swing set and blue-stone patio with a built-in BBQ area. The home’s breathtaking indoor atrium has a glass ceiling, limestone floors and stone walls. A stunning kitchen boasts a Lacanche range, Traulsen independent refrigerator and freezer, custom cabinetry, marble sink and built-in breakfast area. The incredible family room has a walnut coffered ceiling and stone fireplace. A sprawling master suite has separate sleeping and sitting areas, a huge walk-thru closet with island and solid oak built-ins. Three additional spacious bedroom suites complete the top floor. A lower level includes a guest suite, theater/rec room, gym and wine room. This home is also located in the Burley School District, another coveted feature by buyers looking to enroll in a particular Chicago school.
It’s interesting to look at the features of each of these homes and see what common denominators there area does gauge what today’s luxury real estate buyer is looking for. If you’re in the market to purchase a home, I always recommend my clients keep a close eye on the most recent sales to get a feel for what features go for what price and understand how that will stack up to your own budget.
For more information on the luxury Chicago homes that sold last year, or to see what’s on the market now, contact me at (312) 498-5080 or email me at [email protected]