The sellers of a Gold Coast mansion listed their home for nearly $9 million this month after marketing it privately.
The pocket listing at 1534 North Dearborn Parkway was seeking $9.75 million in 2023, when very few properties in the neighborhood were trading for more than $6 million. The private listing was brief, however, and now the sellers are back with the new ask, according to public listing information.
The historic 1886 home was expanded and nearly rebuilt by the owners in a project completed in 2021, according to Jameson Sotheby’s International Realty’s Tim Salm, who has the listing.
Owners Jacqui and Richard Hawwa renovated the 5,500-square-foot structure they bought for $2.9 million in 2013 and added just under 3,000 square feet to the home, according to property records and listing information. The entire floorplan was changed, but the home’s “classic vintage shell” has remained the same, said Salm, who declined to confirm the sellers match the property records.
The cost of renovations, however, is unclear. And even with the drop in price from 2023, the new top line is more than triple its last sale price over a decade ago. But the home is significantly larger now, so when comparing price per square foot when the home last traded to today’s price, the net gain is not black and white. In 2013, the home fetched about $530 per foot, while today’s price breaks down to about $1,080 per foot.
The Hawwas were both former executives at Chicago firms and now work in San Francisco. Jacqui Hawwa was vice president of GTCR, while Richard Hawwa worked at Citi and UBS in Chicago.
The four-bed, seven-bath Gold Coast home is set on a 150-foot lot and includes a sauna, library and gym, Salm said.
Its public listing comes at a time when the market is starting to heat back up, especially compared to the slog of 2023. Recent Gold Coast sales that have pushed into the $7 million to $9 million range have primarily taken place in condo buildings like No. 9 Walton, but Salm said this property is unique in offering a more open and newly constructed layout while retaining the vintage charm of a Gold Coast home.
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Residential
Chicago
Gold Coast mansion tests luxury market with $10M asking price