Three-lot Lincoln Park mansion seeks more than $12M

Owners of a mansion in Lincoln Park are seeking $12.5 million, snagging the distinction of Chicago’s third priciest single-family home on the market.

The 11,000-square-foot home at 1956 North Orchard Street spans three lots, and Suzanne Gignilliat of @properties Christie’s International Real Estate’s is the listing agent for the property, Crain’s reported.

Originally built in 2001, the home was updated in 2020 with additions to the grounds and the house itself. All new windows and doors were also installed in 2022. The home sits on a 75-foot-by-124-foot, three-lot parcel in the heart of the affluent Lincoln Park neighborhood.

While the owner of the Orchard Street mansion isn’t known, it was purchased by a legal entity in 2012 for $5.3 million, meaning the sellers could have spent as much as $7 million on recent upgrades on the property and still come out ahead on the investment, should the home fetch its asking price. High-end sales for over asking prices have been rare in Chicago’s residential real estate market, though.

The seven-bedroom home has arched doorways, carved stone fireplaces, two kitchen islands, a curved central staircase that fills an open, three-story atrium and a third-floor living space that opens onto a private terrace. There is also a finished basement with a home gym and wine cellar. There are two kitchens inside the home and a third outdoor kitchen space as well.

Outside, the property has multiple decks and patio seating areas as well as a balcony and a sports court. The home has an attached, heated three-car garage with a deck on top and an additional detached two-car garage.

The home’s listing price trails only two other Chicago-area properties asking for more. The 25,000-square-foot Parrillo property on Burling Street is asking almost $30 million after its price was cut early this year by $15 million, and a Gold Coast mansion on Burton Place has been listed for $18.75 million since late 2020. In addition, there are four condo units listed for more than $12.5 million.

Only two Lincoln Park mansions have sold for $12.5 million or higher in the past five years, both of which sold in 2021. A mansion in the neighborhood also sold for $13.3 million in 2016.

 — Victoria Pruitt