A Wilmette home whose price jumped thanks to a renovation sold for $5.2 million just five days after hitting the market, underpinning demand for homes in Chicago’s northern suburbs.
The 8,400-square-foot home at 1222 Chestnut Ave in East Wilmette closed on Aug. 5 for $5.175 million. It was listed for sale on June 6 for $5.5 million, and went under on June 11, public records show.
The five-bedroom property, built in 1941 and on less than an acre, last sold in 2018 for $2.7 million. The owners asked $2.8 million for it in September 2020 for $2.8 million and then removed the listing. It was recently renovated and redesigned, according to the listing.
Its value jumped by more than $650,000 in the last 30 days, according to Zillow’s home valuation model. The Zestimate uses public, MLS and user-submitted data to make its estimate, and also uses information about the home, its location and market trends in the area. Like other online home valuation tools, it can vary in accuracy.
Amenities include a garden room with heated floors, a mudroom with five custom closets, two laundry rooms and a laundry chute, a rec room, a home gym, a 300-bottle wine cellar, infrared sauna, pool and sports court.
The home was sold by a trust, according to Cook County public records. Patricia Skirving with Compass represented the sellers and Dinny Dwyer of Coldwell Banker Realty represented the buyers, whose identity wasn’t disclosed.
About 80 homes have sold for at least $4 million this year in the Chicago area. The luxury market, especially in the suburbs, hasn’t slowed to the same degree of other markets, even as mortgage rates rise in tandem with concern a recession is on the way. A Winnetka mansion sold for $4.75 million last month after four days on the market.
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