A luxury home in Lincoln Park has hit the market at $15 million, priced just below the nearby North Burling Street estate that recently ranked as Chicago’s priciest ever single-family home sale when it changed hands last month.
The new listing at 400 West Dickens Avenue spans 15,000 square feet for a price tag of $1,000 per square foot, according to public listing information. The listing was made public this week after spending a little more than a month on an agents-only private listing network.
Its asking price ranks it as Cook County’s second-most expensive listing currently, just behind a Park Tower penthouse owned by billionaire Ken Griffin listed at $15.75 million.
The $15 million Lincoln Park asking price is just $250,000 shy of the sale price of 1932 North Burling Street, another Lincoln Park mansion that sold at a $50 million loss to the sellers, who custom built the property. That home, sold by United Automobile Insurance Company Chairman and CEO Richard Parrillo and his wife, Michaela, was on and off the market since 2016 and took multiple price cuts — it was once listed for $50 million — before selling last month.
The Dickens Avenue listing follows not only the Burling Street sale but a slew of ultra-high end single-family homes on Chicago’s North Shore, where there are Winnetka mansions for sale at $35 million and $18 million, as well as several Lake Forest mansions seeking upwards of $10 million. Residential sales of more than $10 million in the Chicago area are rare, and should more than a couple fetch a buyer this year it would mark a notable increase in volume for the upper reaches of the luxury market.
The sellers of the seven-bedroom, 10-bathroom mansion on West Dickens are represented by Tim Salm and Ryan Preuett of Jameson Sotheby’s International Realty. Salm and Preuett did not immediately respond to a request for comment Tuesday afternoon.
While the home was purchased through an LLC that obscures the identity of the buyer, retired Chicago Trading Company executive Paul Kepes and his wife Monica previously disclosed they were the owners and spent $20 million to buy the land and build the property.
Kathryn Quinn Architects, a boutique, Chicago-based architectural firm, served as the architect on the Dickens Avenue mansion, which was built by Fraser Homes in 2014. The property has five different outdoor spaces including 3,880 square feet of private terraces and decks, a basketball area, water feature and vegetable garden.
Its tax bill for 2022 was $150,309, according to listing data.
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