November Luxury Chicago Home Sales Slowed Slightly

While luxury Chicago condo sales saw a strong November, single-family homes seemed to experience the seasonal slowdown we often see this time of year. But that doesn’t mean there weren’t some noteworthy sales: The highest-price property traded for $4.2 million, and the top five sales were all around $2 million or higher.

The top five most expensive homes that sold each have their own list of unique and special features, from square footage, to location, lot size, or other features. This is the key in luxury real estate today. Upscale properties must have a healthy number of factors that differentiate it from what else is on the market to attract luxury buyers—and this month’s homes certainly did that.

Total luxury homes sales in Chicago totaled $56 million for November. Let’s take a closer look at the details and characteristics that set these apart with a recap of the top homes sold in descending order.

456-w-huron

456 W Huron St
Original list price: $4.6 million
Sold price: $4.2 million

November’s most expensive single-family home sale also offered the most square footage: a whopping 10,000 across 6 bedrooms and 4.3 baths. Located on a quiet, tree-lined street in River North, this stunning home showcases quality construction and immaculate attention to detail. The space in an entertainer’s dream, equipped with a 750-bottle wine cellar, recreation room with full bar, elevator, custom staircase and 3-car attached garage. In addition to the generous interior, there are also three enormous outdoor spaces. The River North location offers easy access to the highway and is a short walk to shops, dining and all of the neighborhood’s offerings.

457-W-Deming-Pl

457 W Deming Pl
Original list price: $3.795 million
Sold price: $3.625 million

This extra-wide, custom single-family home spared no expense through a long list of upgrades, including a first-floor marble foyer, elevator, high ceilings, an attached two-car heated garage, and hardwood floors throughout. The sunlit building boasts three levels, including a second-floor maginircenty living room with custom built-ins and wood-burning fireplace, plus a deluxe gourmet, eat-in kitchen. The top floor master suite includes an office/sitting room, massive walk-in closet with island, Calcutta master bath and oversized separate steam shower. Outdoors, you’ll find three private spaces with a one-of-a-kind, 900-square foot private side deck. And the new owners can enjoy all of the luxury amenities at the coveted 2550 Lakeview building.

214-W-Erie-St

214 W Erie St
Original list price: $3.25 million
Sold price: $2.69 million

This is an ultra-unique property in River North—the distinct and recognizable Flair House, an 1883 masterpiece that formerly served as the office of Flair Communications. With 7,000 square feet, this home was ready to be created into a home or office across its 7,000 square feet.

3738-N-Lakewood-Ave

3738 N Lakewood Ave
Original list price: $2.395 million
Sold price: $2.25 million

Located in the Southport Corridor (and in the coveted Blaine school distict!), this custom Greystone spans 5,360 square feet, with 5 bedrooms and 5.2 baths. Features include a commercial-grade, eat-in chef’s kitchen with luxury appliances, Amish custom cabinetry, oversized quartzite tile, a walk-in pantry, Butler’s pantry with full-size SubZero wine fridge. The expansive floorplan includes a sun-drenched family room with fireplace and coffered ceilings, while an incredible master suite boasts his-and-hers walk-in closets, gas fireplace, wet bar, marble spa bath, radiant heat and separate steam shower. Outdoors, there is a new limestone porch and walk-out balcony as well as a rooftop deck.

315-Wisconsin-St

315 W Wisconsin St
Original list price: $2.05 million
Sold price: $1.925 million

A historic row home in the heart of Old Town, this 3 bedroom, 3.1. bath home is in an ideal location: steps from Lincoln Park and Green City market, buses to downtown, restaurants and shopping, plus within the Lincoln Elementary and Lincoln Park High School district. The home has a classic Chicago façade that has been completely rebuilt on the 4,500 square foot interior. You’ll find four levels of bright, luxurious living and entertaining space with tall ceilings and an unusually wide floorplan. A full-floor master suite includes a club-style family room with projection TV, paneled study, attractive millwork and built-ins. Four private outdoor areas include a roof deck with skyline views.

It will be in interesting to see how the end of the year shakes out for Chicago luxury sales and what trends will develop in early 2018. It’s clear that the differentiation factor is huge for the luxury buyer, and many Chicago properties are delivering on that need.

For more of November’s Chicago luxury sales or to talk about buying in 2018, contact me at (312) 498-5080

or email me at [email protected]