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North Shore lakefront mansion is priciest suburban sale this year
The $5 million deal could jumpstart what has been a sluggish North Shore luxury market
A lakefront home in north suburban Glencoe sold for just under $5 million, making it the priciest suburban home sale so far this year.
The mid-century modern home at 80 Wentworth Avenue sits on a heavily-wooded 1.2 acres and has a 120-foot private beach, according to Crain’s.
The buyers’ identities could not be determined through public records, but their broker, Bleu Randall of Baird & Warner, said they plan to keep the house intact. Built in 1955 by architect Henry Newhouse, the sleek home is a lot smaller than some of the newer lakeshore homes in the area.
The home’s seller, Michael Cohen, first listed it in 2016 at $6.7 million. It came and went from the market before being listed at $5.2 million, according to Crain’s. Susan Maman of @properties had the listing.
The deal could be good news for what has been a sluggish North Shore luxury market, where even lakefront mansions are not immune to cooling conditions.
Chicago’s luxury market had a banner 2018, with sales of $4-million-plus homes hitting a new record. The market was largely buoyed by sales at No. 9 Walton and other luxury condo developments Downtown.
That trend has continued into this year: The most expensive residential sale so far in 2019 has been a $11.3 million buy at No. 9 Walton. [Crain’s] — Joe Ward