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