The luxury market for single-family homes continued to move in July, though the price range has tempered a bit compared to what we’ve seen in recent months. July’s sales were largely in the $3 million range, whereas the top sales for much of early summer ranged from $5 million all the way up to $8 million. But these are still ultra-luxury prices for your typical month of home sales.
There were several commonalities among the top properties sold. Nearly all of them were sold for less than the asking price. The majority of homes were on large lots—those wider than the standard 25 x 125 feet—which allows for generous room sizes and square footage. And, these homes were in great neighborhoods, and neighborhoods that hold up great resale value.
Here’s a look at the stand-out features of the most expensive homes to sell in July:
2118 N Cleveland Ave
Original list price: $3.395 million
Sold price: $3.25 million
A 40 x 125 foot lot allows for 6,500 square feet of living space for this 8-bedroom home in East Lincoln Park. A vintage home from 1889, this home exudes craftsmanship and character, with breathtaking details throughout. A formal entryway showcases a beautiful, original carved walnut staircase, stained and leaded glass windows and gorgeous inlaid hardwood floors. The chef’s kitchen boasts deluxe stainless steel appliances and a large breakfast nook that overlooks the huge landscaped backyard. An oversized master bedroom includes a sitting area and luxurious bath. This home was billed as a rare find, on a quiet, tree-lined street within walking distance of parks, the lake and zoo.
2100 N Dayton St
Original list price: $3.299 million
Sold price: $3.16 million
On one of the best blocks in Lincoln Park, this sun-drenched, immaculate corner lot home has an extra-wide floor plan with 5,600 square feet of living space. The property was used was used as a second residence so has been barely lived in since it was built in 2009. The masonry home was custom designed with warm, transitional finishes throughout, with a large custom kitchen, Wolf/Subzero appliances, butler’s pantry with desk, coffered ceilings, wide plan hardwood floors, exquisite moldings, incredible ceilings heights and 9-foot door openings. The formal living and dining room feature two large fireplaces with limestone mantels, and the master suite includes dual walk-in closets, large bath with dual vanities, steam shower and soaking tub. There’s also an impossible-to-find, fully attached 2-car garage, along with a garage deck and walkout terrace.
1753 W Wabansia Ave
Original list price: $3.495 million
Sold price: $3.125 million
This incredible home on a double lot in Bucktown radiates with pride of ownership. Unique features include a huge living space with open floor plan, soaring ceiling heights, a separate dining room, custom kitchen with commercial-grade appliances and private first-floor office. The master suite includes two massive walk-in closets and spa-like bath with separate vanities, oversized steam shower, floating tub and heated floor. A bright and sunny lower level boasts oversized windows, a rec room, game room, gym, sauna, wet bar, wine cellar and second laundry. The home also features multiple outdoor spaces, including a rear deck, garage deck, 1,000 square foot of yard and patio, plus a full rooftop oasis with kitchen, fire pit, seating areas and a half basketball court.
1401 N Astor St
Original list price: $3.35 million
Sold price: $3 million
Just a block from the lake, this historic Georgian home is in the heart of the Gold Coast, on a wider-than-standard lot. Inside, the home is flooded with natural light from an atrium and abundant windows, with multiple entertaining spaces including ample outdoor space. With 4 bedrooms, 3 full baths and approximately 5,000 square feet of living space, this home includes a chef’s kitchen, breakfast area, beautiful dining room, custom lighting and surround sound systems, plus details like precious stone and glass details, elevator access on all floors, state-of-the-art multimedia technology and theater. You’ll also find a rare private driveway with wide two-car attached garage.
3452 N Greenview Ave
Original list price: $3.295 million
Sold price: $3 million
This 7,000 square foot home is on a magnificent extra-wide lot (37.5 feet) in Southport Corridor. Generously proportioned living spaces feature high-quality transitional finishes and outstanding outdoor space, including a fenced front garden, a sport court with basketball hoop, a garage deck with outdoor kitchen and a roof deck. The kitchen boasts Viking, Termador, Subzero and Miele appliances with a pantry closet and island with breakfast table seating. There are five upstairs bedrooms, including a luxurious master suite, plus features like custom closets, rec room with wet bar, media room with projection TV, an exercise room, penthouse great room, dual laundry centers, and an attached 3-car garage with a third tandem space built out into a mudroom.
I recommend to all my clients and potential buyers that they review the previous month’s sales to gauge where the market is. Certain features (like large lot size) or locations come with a certain price tag, and seeing the recent trading value will give you an idea of what you can expect to get for your own budget.
For more information on July’s single-family luxury home sales, or to see what’s on the market now, contact me at (312) 498-5080 or email me at [email protected]