The Real Deal Chicago

The third priciest home on the Chicago market just sold

The Lincoln Park mansion went for $11.9M
By Joe Ward |
Research by Harunobu Coryne
August 29, 2018 08:00AM

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.