Feb 9, 2009
Sale of the Week
Sale of the Week: Pool with a House Attached – Northbrook
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List Price: $2.095 million
Sale Price: $1.6 million
The Property: Set on 1.6 wooded acres overlooking a private pond in Northbrook, this four-bedroom ranch house has a long, glassy second wing that contains a swimming pool. But it’s not just an indoor pool: the many windows and doors of the 1,800-square-foot enclosure can open to make it, essentially, an outdoor pool.
The nine-room house has large rooms, nine-foot ceilings, and expansive views of the wooded surroundings and the pond, which is jointly owned by this homeowner and two neighbors—one of whom keeps a pair of swans there. While the home’s address is in Northbrook, its services are all Northfield, which means any high-school students who live here can attend New Trier High School.
The listing agent, Marion Powers, says that her clients used this property as a weekend home. According to public records, those clients were David and Suzu Neithercut, who in March 2008 paid $4.205 million for a condominium at 900 North Michigan Avenue. David Neithercut is the CEO and President of Equity Residential; at the time the couple purchased the house, he was CFO and executive vice president. The company—started 40 years ago by its present chairman, Sam Zell, whose Tribune Company owns Chicago magazine—owns or manages almost 160,000 apartments in 25 states and Washington, D.C., according to its Web site. David Neithercut did not respond to a request for comment.
Price Points: According to public records, the Neithercuts bought the house in July 2001 for $1.615 million. That year, according to their recent listing sheet, they renovated the kitchen and four-plus baths. In 2007, they listed the house for sale, asking $2.395 million, Powers says, but later took it off the market. They then put it back on the market in the summer of 2008, asking $2.095 million. The ultimate sale price was $15,000 less than what the Neithercuts had paid for it seven and a half years before. The sale closed January 29th, to buyers who are not yet identified in public records.
Listing Agent: Marion Powers of Prudential Preferred Properties, 847-881-8077
Posted at 09:00 AM in Sale of the Week | Permalink
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Reader Comments:
Dennis: did you ever find the sale price on the "limited time offer" originally at $625k?
http://www.chicagomag.com/Radar/Deal-Estate/August-2008/Housing-Bulletin-One-Chicago-Sellers-Limited-Time-Offer/
you said it closed end of Jan?
(If you recall, I'd mentioned it as my barometer for the "decked-out 2 bdrm" - this sector I thought most exposed to price drop in Chicago.)
thanks!
Check back to that item. I posted the sale price there on Feb. 2. (It was $570,000.)
sorry about that -- your comment was on pg 2 - did not see.
surprising level. good for them. and thanks to you!