Chicago luxury home sales tumble last week

The $8.25M total for the 5 most expensive residential sales came amid mounting pressure for Gov. Pritzker to reopen businesses statewide

Chicago /
May.May 04, 2020 11:20 AM
1911 N. Mohawk Street 634 W. Surf Street (Credit: Redfin)

1911 N. Mohawk Street 634 W. Surf Street (Credit: Redfin)

The total price for the top five Chicago homes to sell had been relatively steady over the past few weeks, despite the coronavirus shutdown that has relegated brokers to virtual showings. But that changed last week, as the $8.25 million price for all five marked a 20 percent drop from the week before.

That comes as pressure mounts for Gov. J.B. Pritkzer to begin reopening the state to business. His stay-at-home order remains through May.

Single-family homes dominated last week’s residential list, grabbing four of the five top spots. Buyers also had a penchant for the old – two of the homes that went into contract were both over 130 years old. The only condo unit to sell went in the other direction. Its building was completed last year, and just recently opened up.

Popular Lincoln Park and Lakeview neighborhoods each had two properties sell, while West Town also cracked the list.

Price and property details were found on Redfin, from April 28 to May 4.

1740 Winchester Ave. | $2.1M | West Town

This 5,000-square-foot home has five bedrooms and four-and-a-half baths and was designed by Studio Dwell Architects. Built in 2014, it is made of steel, glass, brick and wood. The sale price worked out to $425 a foot. The home has wide plank walnut flooring throughout, along with a walkout grass backyard and outdoor deck with fire feature. There is also a private roof-top terrace with built-in seating. Baird & Warner’s Stephen Bognar Jr. had the listing and Compass’ Jeff Lowe brought the buyer.

1416 W. Berteau Ave. | $1.75M | Lakeview

Another 5,000-square-foot home, this one has seven bedrooms, four bathrooms and two half-baths, and was built in 2012 in a decidedly classic look. The sale penciled out to $350 a foot. There is a large patio with outdoor wood-burning fireplace and roof deck over a three-car garage. Rachel Krueger of Jameson Sotheby’s International Realty had the listing and Jeff Lowe of Compass represented the buyer.

1911 N. Mohawk St. #3 | $1.6M | Lincoln Park

This three-unit condo building was constructed last year and just recently opened. The penthouse duplex unit has three bedrooms and two and a half baths. It has a private roof terrace with city views. The unit has plank oak flooring, and there is a garage. Compass’ Sam Jenkins had both sides of the deal.

634 W. Surf St. | $1.4M | Lakeview

Built in 1886, this is the second oldest home of the week to sell. The brownstone is spread across 5,400 square feet, and has five bedrooms, four full bathrooms and two half-baths. The price per square foot worked out to $267. There is a four-story spiral staircase and exposed timber ceiling. The master bedroom has a private balcony and its own fireplace. There are two additional fireplaces in the living room and family room. The home includes a two-car detached garage. Antonio Giamberduca of Compass had the listing and Dana Gerstenschlager of @properties represented the buyer.

1737 N. Fern Court | $1.4M | Lincoln Park

The granddaddy of the week, this home was built in 1873, and has four bedrooms and three and a half bathrooms. The home was completely rebuilt in 2005 in compliance with Old Town Landmark regulations. There is a large private outdoor space and a two-car heated garage. Lindsay Everest of Berkshire Hathaway HomeServices Chicago had the listing and Compass’ Jeff Lowe and Joy Larkin brought the buyer.


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