One of the few remaining single-family homes in Chicago with Lake Michigan beachfront has a new owner.
The house, at 7241 S South Shore Drive, sold on March 4, according to a report by Crain’s. The buyers weren’t disclosed; they paid $670,000 — $20,000 over asking — for the property.
“That house was one of my clients’ dream homes for years,” Joslyne Carson, the Re/Max Premier agent who represented the buyers, told Crain’s. “They offered more than the asking price to be sure they got it. They’re excited to be able to have Lake Michigan in their backyard.”
Within the city, opportunities to own lakefront property are few and far between. This is one of just seven privately owned houses on Lake Michigan within Chicago, according to Crain’s.
The house was built in the 1920s and listed in April of last year. It was the first time it’s been on the market since the 1970s.
The property was in poor condition and several potential buyers would have torn down the house, according to Yolanda Zapiain, the Re/Max 10 agent who represented the sellers. She said the house received five offers, and three of those potential buyers would have demolished it. However, the buyers plan to renovate the house. Currently it’s a 3,200-square-foot house that combines a brick Cape Cod-style house with a long, low rear addition in the back of the property.
The portion of the lot that runs up to the lake, another street was initially planned. The road was washed away during a 1917 storm, which created the cove that it shares with other houses and the South Shore Cultural Center.
The majority of privately owned homes on Chicago’s lakefront are on the South Side, with two others along in the same row as the house that sold. Only one such house exists on the North Side.
Yusef Jackson, an attorney and son of the Rev. Jesse Jackson, purchased the house next door for $610,000 in 2017.
[Crain’s] — Miranda Davis
Read more
Residential
Chicago
Lakefront mansion in Kenilworth is being shopped privately for record $14M
Development
Chicago
Chicago approves $4B Bronzeville Lakefront redevelopment