A pair of homes in Barrington have changed hands this week, one after years on the market, and both with major price cuts.
Both properties are in the far northwestern suburb, which doesn’t have the same number of high end properties as North Shore suburbs but does have several ultra pricey listings.
The first property has been on and off the market for years. Built in 2005, the 46-acre property includes a 9,000-square-foot house, seven-acre private lake, guest house, custom barn, private groomed trails, and an orchard. Bob and Denise Krause were the sellers, and the buyers are not yet identified in public records.
The couple originally sought nearly $8 million for the property when they first listed it in 2021. Several price cuts brought it down to $5.9 million before it closed for $5.6 million this week. Heidi Seagren with Compass represented both the buyers and the sellers in the deal.
The second property, a 13,000-square-foot home at 48 Brinker Road, sold for $4.75 million after only two months on the market. The seven bedroom, 10-bathroom home was listed at $5.5 million, making the sale a 13.6 percent decrease in price. The five-acre property includes a home movie theater, gym and indoor sport court. Built in 2020, it also has direct access to a small lake.
John Morrison with @properties Christie’s International Real Estate represented the sellers and Basel Tarabein with RE/MAX At Home represented the buyers.
The last home in the area to sell in at or above the $4 million mark — the traditional benchmark for ultra luxury listings in Chicagoland — was a $5 million sale of a 70-acre property in South Barrington.
The area does have several other high-end listings for sale. That includes a house featured on the TV show “Empire,” which is now asking $9.5 million after over a decade on the market.
Another megamansion in Barrington on Hawthorne Road was re-listed in late March for $6 million, and found a buyer in only 10 days after a 12 percent cut from its initial asking price. The 20,000-square-foot home is back on the market now, asking $5.9 million, after that sale didn’t close. The re-listing chopped the property’s original asking price of $6.8 million when it tested the market in 2021.
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