Chicago’s luxury resi market had a very good week

The five priciest homes to sell last week totaled $18M

Chicago /
May.May 18, 2020 10:09 AM
1239 W. Altgeld St. and 579 W. Hawthorne Place (Credit: Redfin)

1239 W. Altgeld St. and 579 W. Hawthorne Place (Credit: Redfin)

UPDATED, MAY 19, 5:15 p.m.: Chicago’s luxury residential market had one of its best weeks since the pandemic took hold.

The five priciest homes to sell last week totaled $17.9 million, topping the previous week’s total, which was dominated by one very big deal.

For the most recent list, the closing prices were more evenly distributed, with the highest just under $6 million and the lowest at $2 million. Four of the five were single-family homes, the other was a condo. The previous week’s top sale was a combined condo unit on the 51st floor of Park Tower.

Two of the properties on this list were in Lakeview, two in Lincoln Park and the other on the Near North Side.

Housing prices have inched up in recent weeks, mainly the result of tight supply, as homesellers held off on listing their properties amid the coronavirus. Meanwhile, homeowners in Cook County received some good news recently. The county has waived late-payment interest penalties for two months.

Price and property details were found on Redfin and Trulia, from May 12 to 18.

1822 N. Howe St. | $5.9M | Lincoln Park
This home dates to 1875 and has five bedrooms and five bathrooms. It is nearly 5,400 square feet, with the sale penciling out to $1,100 a foot. There was limited information on the property, but Meredith Manni of Berkshire Hathaway HomeServices Chicago had the listing and Nancy Tassone of Jameson Sotheby’s International Realty brought the buyer.

1239 W. Altgeld St. | $4.4M | Lincoln Park
This 6,500-square-foot home was built in 2002 and includes an attached four-car garage, along with gardens and an outdoor space. The sale price per foot came out to $665. The five-bedroom, five-bathroom property has a facade made of Indiana limestone. There is also an elliptical custom staircase, walnut wide plank hardwood floors and a white marble foyer, along with a limestone fireplace. A deck includes a wood-burning pizza oven and built-in grill. Natasha Motev of Jameson Sotheby’s International Realty had the listing and brought the buyer.

579 W. Hawthorne Place | $2.8M | Lakeview
This 5,000-square-foot home was built in 1924, and has four bedrooms and 3.5 bathrooms. The sale price per foot came out to $560. There was limited information on this property. Bleusette Randall of Baird & Warner had the listing and Compass’ Richard Kasper brought the buyer.

1248 W. George St. | $2.8M | Lakeview
This 5,800-square-foot home was built in 1915 and has been completely redone. The deal penciled out to $477 a foot. The home has five bedrooms and seven bathrooms, with 14-foot ceilings, exposed brick walls and a butler’s pantry. It includes an attached three-car garage and roughly 2,000 square feet of outdoor space. Mark Icuss of Compass had the listing and George Cain of Keller Williams Chicago-Lincoln Park brought the buyer.

270 E. Pearson St. #501 | $2M | Near North Side

This 2,365-square-foot condo has three bedrooms and 2.5 bathrooms. The building was constructed in 2004, and the sale works out to $835 a foot. Baird & Warner’s Caroline Druker and Matthew Druker had the listing. Sheila Doyle, also of Baird & Warner, brought the buyer.

Correction: A previous version of this article included a home that had an incorrect sale price. The correct sale price knocked it from the list. The Near North Side condo was added. The latest version of the story reflects the combined total for all five homes that sold. 

 

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