Lincoln Park mansion prices doubles in less than a year

A Tuscan-inspired Lincoln Park mansion is hitting the market for $7.2 million, more than double its 2021 price tag— albeit after a dramatic renovation.

The transformation of the mansion, which sold for $3.35 million in June, into a more modern design represents shifting tastes among buyers, according to Crain’s. It also underscores Chicago’s hot luxury housing market, where inventory has dropped as wealthy buyers seek more space. Sales doubled in 2021.

The 8,400-square-foot home on a double lot at 1862 N. Dayton Street, owned by an entity associated with LG Development, is losing its ornate, apricot facade and faux oil lamps for white plaster walls, a black metal roof and high arches over the front door, Crain’s reported. Lakeview-based Casagrande Architects is handling the redesign.

“It’s still an Italian villa, but more modern,” Jameson Sotheby’s Lauren Goldberg, one of the agents representing the home for LG, told Crain’s. Her husband, Brian Goldberg, is a principal at LG Development, a full-service contractor with a history of building high-end homes.

Buyers have the option of purchasing the home with the adjacent property, demolishing the house there and finishing it with a pool, which would bring the total cost to more than $10 million, Goldberg told Crain’s.

Goldberg said the makeover is underway and should be done by the end of the year. The house is being shown in the meantime so that buyers can weigh in on the floor plan and finishes.

[Crain’s] – Harrison Connery