Dec 17, 2007

Sale of the Week

Sale of the Week—Chicago’s Gold Coast

List Price: $5,150,000
Sale Price: $4,850,000

The Property: Although 12 years old, this brick home on the Gold Coast still gets called “new construction” by its selling agent, because it is the rare single-family home in the neighborhood that is from any later than World War I. Its exterior was designed to resemble the old-timers, but inside, “you know what’s behind the walls; the plumbing and electrical is all up to date,” says Janet Owen, the agent who represented the sellers in the sale that closed December 3rd. On top of that, because of the extra-deep lot—150 feet compared to the neighborhood’s more typical 100 feet—there is sufficient space for a sizable family room behind the kitchen, as well as a backyard and garage beyond that.

The 7,280-square-foot house has seven bedrooms and four fireplaces. The 13-room floor plan “was made for family living,” Owen says. Aside from the family room off the kitchen, there’s a 600-square-foot playroom in the basement, a private library for the parents on the second floor near the master suite, and both formal and casual dining spaces.

The sellers, Charles and Rebecca Besser, had the house built in 1995 by BGD&C, a builder of elite homes run by Owen’s husband, Rodger Owen. Charles Besser is the founder and CEO of Intersport, a 21-year-old company that produces TV sports programming and fan and corporate sports events. The Bessers have moved to a larger home that accommodates their requirement for staff space for a special-needs child, Owen says. The Bessers could not be reached for comment.

Price Points: The house first went on the market in March 2006, with an asking price of $5,950,00. At the time, a house nearby had just sold for $6 million, “and it had no garage and no parking,” Owen notes. This house has a three-car garage with storage space. In August of this year, the price was cut to $5,150,000.

Buyers: Not yet identified in public records
Listing Agent: Janet Owen, Sudler Sotheby’s, (312) 751-1717

Posted at 05:11 AM in Sale of the Week | Permalink

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