The Real Deal Chicago

Second $12M resi sale recorded in Winnetka since start of the year

Only a handful of homes have sold for more than $10M in the Chicago area in 2018, and 3 were in the north suburb
May 16, 2018 10:00AM

The project would add 850 resi units, 175-key hotel at the mouth of the Chicago River (Credit: @properties)

A pair of homes in Winnetka sold for $12 million in the past three weeks, accounting for half of the $10 million-plus residential sales in the Chicago area this year.

The latest luxury sale in Winnetka was a lakefront mansion at 381 Sheridan Road sold Tuesday by retired United Continental executive Michael Bonds and his wife, Cynthia, according to Crain’s.

The five-bedroom, 5,500-square-foot house sold before it went on the open market, said the sellers’ agent, Gayle Dunn of @properties. The buyers’ agent, Kathryn Mangel of @properties, did not immediately respond to a request for comment from Crain’s. The buyers were not yet identified in public records.

381 Sheridan Road (Credit: @properties)

The site of the house sold in 2014 for $3.8 million. A house that was on the nearly 1-acre site was demolished and the Bonds’ house was built in its place.

The other $12 million sale, in late April, was for a newly built, eight-bedroom lakefront house about seven blocks away, at 1035 Sheridan Road.

In January, Len and Gaye Wislow sold a lakefront mansion at 735 Sheridan Road in Winnetka for $10 million to Philip and Janice Beck, who applied for a demolition permit but may not tear it down, according to Crain’s.

The last time a home home sold for $12 million in Winnetka was 2013.

The only other sale of more than $10 million this year was a condominium in JDL Development’s 9 West Walton on Chicago’s Gold Coast for $12.1 million.

By this time last year, the region’s highest sale price was $7.2 million, for a home on Grant Place in Lincoln Park. Eight homes have sold for more than that so far in 2018, according to Crain’s. [Crain’s]John O’Brien