A 70-acre estate has hit the market in Barrington Hills for $22 million, a listing that would set a record for the northwest Chicago suburb if the home sells at that price.
Built in the style of a classic English Country Manor, the estate, known as Hidden Ponds, is located at 7 Fox Hunt Road in Barrington Hills. It has 8 bedrooms and 14 bathrooms, and spans 30,600 square feet for a list price of $719 per square foot, or $314,000 per acre, according to public listing information.
The listing is another sign of growing interest among ultra-luxury buyers to invest in the suburbs.
“The buyer profile is really somebody who likes to remain private — celebrities, sports athletes, or a large corporate person,” said Mimi Noyes of Morrison Home Team at @properties Christie’s International Real Estate. Noyes has the listing along with John Morrison, owner of Morrison Home Team.
Noyes was also involved in the deal the last time the home sold, in 2012. Its sale price of $7.5 million ($245 per square foot) set a record for Barrington Hills back then as well, she said.
By far the priciest listing in the village, the Hidden Ponds estate’s asking price will test the top of the market in Barrington Hills.
A mansion that appeared in the TV show “Empire” came close with an original listing price of $15.3 million, but its price was cut nearly in half after the property sat on the market for over a decade and failed to sell at an auction last summer. That 17,600-square-foot estate at 45 Lakeview Lane, which is owned by Sam and Geralyn Cecola, was priced just shy of $7.9 million over the summer, but it has since been removed from the market.
It’s tough to sell homes above $6 million in the Chicago suburbs “unless you’re on Lake Michigan or one of the North Shore properties,” said Michael LaFido of LPT Realty, a listing agent who represented the Lakeview Lane property. “It’s just a bit more challenging, with a smaller pool of buyers looking.”
Noyes said she feels confident the Hidden Ponds estate is priced well for the market and that it will draw in the ultra-luxury buyers that the Lakeview Lane home could not.
The Hidden Ponds estate has much more private acreage, and it has the added privacy of backing up to a conservation area. The home also has a full-size basketball court, which Noyes said they factored into the price. Suburban property values are on the rise in many areas, and there has been an uptick in luxury sales beyond just the North Shore. The leaders of Chicago’s top brokerages have put emphasis on expanding their footprints in the suburbs this year.
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