The third priciest home on the Chicago market just sold

The Lincoln Park mansion went for $11.9M

Aug.August 29, 2018 08:00 AM

1950 North Burling Street

The third-most expensive home listed for sale in the city has sold, albeit with a modest price decrease.

A Lincoln Park mansion at 1950 North Burling Street recently sold for $11.9 million, according to property records. The home hit the market in early June with an asking price of $12.95 million, making it the third-highest asking price for a city home at that time.

The sellers are Conrad and Elizabeth von Peterffy, who bought the land in three transactions for a combined $5.36 million in 2012. The 8,000-square-foot home sits on nearly four full city lots and has elaborate lawns and gardens. Conrad von Peterffy is the owner of a Schenker Storen, a Swiss blinds, awnings and shutters manufacturer.

The buyer of the home is not listed on the transferred title. Debra Dobbs of @properties, who represented the buyer, did not respond to a request for comment.

Janet Owen of Berkshire Hathaway HomeServices KoenigRubloff Realty Group was the listing agent.

The $11.5 million paid for the Burling Street property makes it one of the most expensive single-family homes sold in Chicago in recent memory.

The highest sales price for a single-family home is the $14.5 million that billionaire and Democratic gubernatorial candidate J.B. Pritzker paid in 2008 for a 25,000-square-foot mansion on Astor Street.

However, there’s a home currently on the market that has the potential to smash Pritzker’s record. Another Burling Street mansion — a few homes away from the one that just sold — is seeking $50 million.

The second biggest single-family listing of the summer is a 130-year-old Gold Coast mansion that is asking $21.9 million.

Related Articles

Frank Lloyd Wright and (from top) 301 S. Kenilworth Ave., Elmhurst; 239 Franklin Street, Glencoe; and 350 Fairbank Road, Riverside (Credit: Getty Images, iStock)

In Chicago’s residential market, the price is not Wright

Alderman Harry Osterman (48th) and a coach house in Dunning (Credit: Zillow)

Chicago may allow more granny flats amid affordability crisis

Developer Sam Goldman and an original rendering of the apartment building at 7000 N. Glenwood Ave. 

To avoid rezoning battle, developer cuts Heartland Cafe redevelopment plans in half

Dr. Kam Patel and 400 W. Huron tower

Can a $10M condo — not in No. 9 Walton — find a buyer?

The Atworth at Mellody Farm and Passco CEO William O. Passo

In a tight market, California investor pays $90M for suburban rental complex

2308 W. Giddings Street and "Windy City Rehab" stars Alison Victoria and Donovan Eckhardt (Credit: HGTV)

Buyers to “Windy City Rehab”: Take back this broken $1.36M house

The Clare at 55 E. Pearson St. and LCS CEO Joel Nelson (Credit: Google Maps)

Near North Side luxury senior living tower trades for $105M

Blackhawk players Johnathan Toews (left) and Patrick Kane owned units that sold for over $6 million each this year in the star-studded No. 9 Walton tower (Credit: Getty Images)

Here are Chicago’s top 10 residential sales of 2019