Chicago’s Lincoln Park registers year’s priciest single family home sale

Less than two months into 2022, the priciest single-family home sale in Chicago was in Lincoln Park, a popular area for families seeking large houses with spacious yards in the city.

The six-bedroom, 8,400-square-foot mansion at 1837 North Orchard Street sold for $8.7 million on Feb. 4, according to Redfin. The home had a “winning combination” of a wide lot and a floor plan of three levels, and sold before it hit the market, according to Janet Owen, broker from Berkshire Hathaway Home Services Chicago who represented the seller.

“The house was sitting on a lot that was 65 feet wide, which is hard to find in the city, ” Owen said. “People love the south-facing lot because of the sunshine and that house had that.”

Chicago’s housing market is off to a strong start after closing in 2021 with more than 100 homes sold for more than $4 million and over, doubling the average of 51.5 over the past six years. Two of the priciest home sales last year came from Lincoln Park. Chicago Title Land Trust paid $12.6 million for a six-bedroom, 8,000-square-foot home in North Burling and David Williams bought a five-bedroom house in North Orchard for $12.5 million.

The home comes with an outdoor living room with a fireplace, sports court area and two terraces. Built in 1995, the home was renovated with a new kitchen, primary bath and a wine room over the past three years.

Lincoln Park will continue to see strong demand in 2022, Owen said. Last month, a home on Mohawk Street in the area also went under contract without hitting the market for just under $9 million.

“It’s the wide lots with beautiful homes that sell for more and Lincoln Park has it,” said Owen. “It’s not even in the middle of February and homes are selling just through word of mouth. It’s going to be a great year for Lincoln Park,” she said.