There was certainly no summer slump to be seen among Chicago luxury (and ultra-luxury) home sales in June. Last month, there were $158 million in sales volume for luxury single-family home sales, with sales ranging from $1 million all the way up to $4.8 million.
Luxury buyers are noticing that with interest rates being historically low and the stock market potentially going higher, now is an ideal time to purchase high-end real estate. It’s also interesting to note that buyers relocating from New York and San Francisco are finding the Chicago market to be more affordable luxury, as real estate in their current locations can be two to three times more expensive. And the space that’s available likely doesn’t compare to these other urban areas, as luxury buyers in Chicago are snapping up homes on extra-wide lots as soon as they hit the market.
It’s nothing new to see Lincoln Park homes among the top luxury sales, but in June, 9 out of 12 ultra-luxury homes (those sold for $2 million-plus) were in this neighborhood. Lincoln Park is a wonderful neighborhood for young professionals, families and empty nesters alike, thanks to its central location, residential atmosphere and plenty of things to do, from dining to nightlife and theater. For those with children, Lincoln Park is a favorite for its proximity to great schools, both private and public.
Here’s a more detailed look at the top five homes that sold in June, starting with the most expensive:
843 W Webster Ave
Original list price: $4.999 million
Sold price: $4.775 million
Located on a double lot on one of the most sought-after blocks in Lincoln Park, this thoughtfully designed residence spans a generous 6,785 feet. The home has been completely renovated for modern living, starting with a sun-filled main level that features a double foyer, herringbone flooring and access to a large rec area with a full-size sport court. A grand staircase leads to the expansive living area that offers abundant space for entertaining, and next to that is a large dining room with French doors that leads to a separate great room. A chef’s kitchen features state-of-the-art appliances, wet bar, large breakfast bar and large cabinets. And on the top level, you’ll find 4 of the home’s five bedrooms, including the master suite with walk-in closets and terrace that extends the entire width of the home.
2015 N Clifton Ave
Original list price: $3.75 million
Sold price: $3.65 million
This is a newer construction Chicago home that lets in plenty of light from every angle. With 6,250 square feet on a 28-foot lot, this four-level home features a master suite with three walk-in closets, a flex room on the 3rd level and two bedrooms on the lower level. A stunning kitchen features custom cabinetry, integrated refrigerator and freezer, a Wolf 6-burner stove, 2 ovens, 2 dishwashers and butler pantry. The home is prime for entertaining, with a large great room next to the kitchen that flows directly into the outdoor area featuring an outdoor grill station, patio and garage roof deck with fireplace. Exquisite details throughout include a showstopping elliptical 4-story staircase, beautiful crown molding and trim details, four fireplaces and four-stop elevator.
1900 N Burling St
Original list price: $3.35 million
Sold price: $3.125 million
On one of the most prestigious blocks in Lincoln Park, this pristine home has been renovated to perfection, with amazing attention to detail and an extra-wide, open floor plan. The space lends itself to entertaining, with a light-filled living room, separate dining room and custom-designed high-end chef’s kitchen with commercial-grade appliances. A great room overlooks a professionally landscaped yard and deck, and a penthouse conservatory makes for perfect in-home office space, with a rooftop terrace that offers sweeping views of the city skyline. A lower level family room, full bath and mudroom could convert to another bedroom if desired.
626 W Arlington Pl
Original list price: $2.849 million
Sold price: $2.675 million
A grand, extra-wide home spanning 6,320 square feet on a huge 50 x 174 foot lot. That massive space allows for the best of all worlds inside: a classic Victorian red brick façade, a lofty, light-filled interior and tremendous green space outdoors. The main level flows perfectly for entertaining, along with dramatic ceiling heights, hardwood floors, oversized windows and garden views. The dining room doubles as a library with custom built-ins, and the eat-in kitchen boasts a design from Roy McMakin. The home’s spacious master suite includes a sitting room and brand-new contemporary bath. A lower level serves as a one-bedroom apartment but could be incorporated into the main residence to add additional living space.
1853 N Fremont St
Original list price: $2.65 million
Sold price: $2.562 million
Another highly sought-after Lincoln Park location, this exquisite 4,500-square-foot four bedroom home has been embellished with an Architectural Digest flare. Every detail uses the most high-end finishes, and features throughout include custom Marvin arched doors/windows, Christopher Peacock custom cabinetry, smart home system, reclaimed herringbone white oak floors, radiant heat floors and much more. The outdoor space includes a beautifully landscaped paver patio off the main living area and an oasis-like roof deck complete with river birch trees, an outdoor shower and city views.
Reviewing last month’s sales is a great way for buyers to get an idea of what various features, locations and square footage might cost and allow you to compare those to your own budget. I have an extensive history of selling luxury real estate in Chicago, and would be happy to talk to you more about what you might be looking for in a home purchase–and for a limited time, I’m offering $2,500 cash at closing for clients who make a purchase over $500,000 with me.
For more details on the 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]