Chicago’s second priciest sale of 2019 illustrates luxury market slowdown

The historic property with a modern twist failed to reach $10 million measure-mark, leaving only one such sale this year.

TRD CHICAGO /
Aug.August 26, 2019 02:00 PM
The home at Wentworth Avenue, which sold in late July for $9.68M (Credit: H. Gray Frank Architects)

The home at Wentworth Avenue, which sold in late July for $9.68M (Credit: H. Gray Frank Architects)

Things could be better in the Chicago luxury market. The second biggest sale of the year just closed, and it failed to reach the $10 million mark.

At $9.68 million, the sale of a North Shore Glencoe lakefront mansion left No. 9 Walton Street’s 31st floor condo sale in March as the only eight-digit sale of the year at $11.27 million, as TRD previously reported.

Last year by this point, five properties had sold for more than $10 million, causing some to point to a slowdown in Chicago’s luxury market, Crain’s reported.

Luxury home sales saw its third consecutive quarter of year-over-year declines this year, TRD previously reported.

David and Susan Sherman, who paid $4.58 million for the historic shoreline property, built the mansion designed by Winnetka firm H. Gray Frank Architects in 2013, Crain’s reported.

The property previously housed an 1869 farmhouse and a funicular lift, which used cables to pull a car up and down the incline behind it. It is not clear whether the lift remains on the property, Crain’s reported. [Crain’s] — Sarah Paynter


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