A custom-built home on Lincoln Park’s iconic North Burling Street just hit the market for a little under $9.5 million.
The owners of the seven-bedroom, six-bathroom home at 1853 North Burling Street spared no expense when they built the home after purchasing the property in 2007, property records show. The home was built by Sylvester Construction, with custom brick work across the exterior, and the interior design was done by Chicago-based Soucie Horner, said @properties Christie’s International Real Estate broker Carrie McCormick, who has the listing.
The property was purchased by Prudential Capital Partners Managing Director Mark Hoffmeister and his wife Kathy Bentley back in 2007 for just under $2.94 million, property records show. McCormick declined to comment on the home’s sellers. The new home is asking more than triple that price.
The mansion’s luxury details and big-name designers, its square footage and its location on one of Lincoln Park’s most sought-after streets are all factors that played into McCormick’s pricing of the home, which puts it at about $1,087 per square foot, she said.
The house’s front-loading garage also eliminates the need for a back alley, giving the backyard a more “suburban feel” that some luxury buyers may be looking for as they return to the city after post-pandemic trends, McCormick said.
“There is a little resurgence back to the city because of everything it has to offer, and one of the reasons why people left the city was space. They wanted more room in their homes, and more privacy in their backyard,” she said.
Lincoln Park is a favorite for ultra-luxury buyers, with three streets commanding some of the highest prices: North Burling Street, North Howe Street and North Orchard Street, said McCormick, who is based in the area.
Some people gravitate to these streets because they were some of the first in the city to offer private security, but there is also a less tangible “it” factor that can be seen in other neighborhoods across Chicago and in other U.S. cities, she said.
“Just like Michigan Avenue, or Fifth Avenue in New York, or State Parkway in Gold Coast, there’s always these streets that become iconic,” McCormick said.
It was a North Burling Street sale that broke the record for most expensive home ever sold within the city of Chicago when David Cocagne, CEO of Vermilion Development, and his wife, Manassi, paid $15.25 million for a 25,000-square-foot mansion ($610 per square foot) there last August.
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Chicago
Developer David Cocagne bought Chicago’s priciest home