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Seven-bedroom Graceland West home goes into contract for $7M
The record home price for the neighborhood was $3.8M in 2016
A seven-bedroom home in Chicago’s Graceland West neighborhood went into contract for $7 million, marking a record if it closes at that price.
The 11,000-square-foot home at 4130 North Greenview Avenue went into contract in September, two months after the price was slashed by $1 million and is set to close in January, according to Marlene Granacki, the Re/Max agent representing the buyer, whom she declined to name. The sellers are Daniel Adamany, CEO of Chicago-based IT firm Ahead, and Katherine Adamany.
The final price won’t be disclosed until the transaction is complete.
The house, on a 16,100-square-foot lot, has room on the top floor for an office, a side and back yard that includes a sports court, according to Jameson Sotheby’s International Realty’s, which had the listing.
“Since the pandemic, homes with large outdoor space, a yard and a rooftop have been popular,” said Granacki. “About four homes could be built on a lot like this. To have that much outdoor space in the city is very hard to obtain when living in the city of Chicago.”
The most expensive home sold in Graceland West came in 2016 when a buyer paid $3.8 million for a 6,600-square-foot property less than half the size of the Adamanys.
The luxury housing market in Chicago had a strong year due to low mortgage rates and a booming stock market. Some 75 homes sold for $4 million or more in the first 10 months of this year, breaking a previous record of 73 in 2018, according to Crain’s. In November, a single-family home at 233 Sheridan Road sold for $9.5 million, the priciest residential sale.