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The High End of Chicago’s Real Estate Market Is Thriving

In Chicagoland, 709 homes have sold for $1 million or more in the first half of the year, a 35 percent increase over last year. Here are some of the highlights.

The real estate market is really popping, and that’s particularly true in the $1 million-and-up category. In the first six months of 2013, 709 homes in the Chicago area sold for $1 million or more, according to Midwest Real Estate Data LLC; that’s 35.8 percent more than sold in the same period in 2012.

Here are homes that have sold recently for some big round numbers, from $1 million even to $5 million even, and what’s for sale at round numbers up above those.

Photo: Dennis Rodkin

List Price: $1.05 million
Sale Price: $1 million
This Roscoe Village five-bedroom built in 2005 in the Audubon School district had been on the market last year, with an original asking price of $1.2 million. Despite its crisp, modern interior that includes a cherry-cabinets kitchen and two decks, it sat unsold for about seven and a half months, and then went off the market. It came back on the market in March at $1,050,000, and in less than five weeks went under contract. The sale closed June 21.

Photo: Dennis Rodkin

List Price: $2.1 million
Sale Price: $2 million
Completed on a pretty Lincoln Park street in 2011, this house started out then at $2.5 million. It has five bedrooms, four and a half baths, and three fireplaces indoors and one outdoors; and is in the Alcott school district.

The house has classic crown and baseboard moldings and a traditional-looking wood-railed staircase, but is otherwise modern, with a mostly open floorplan, radiant heat in the garage floor and sidewalks, and a top-floor penthouse room that opens onto a rooftop terrace.
It got a new price, $2.1 million, in March, and sold promptly. The sale closed June 28.

Photo: Dennis Rodkin

List Price: $3.295 million
Sale Price: $3 million
Set on a two-thirds of an acre on a brick street in Hinsdale, this one has six bedrooms, six full baths and three partials. Ceilings with painted wood beams, tall bay windows looking out over the yard, and a bluestone-floored three-season room give it a casual elegance.

The house was built in 2004, although I couldn’t determine what it cost to build. The lot it’s on sold for $1.4 million in 2001. The home went on the market last October, with an asking price of $3.7 million. The price came down to $3.295 million on April 1, and 8 days later the house was under contract. That’s in line with the Hinsdale market’s red-hot performance this spring and summer. The sale closed June 28.

Photo: Dennis Rodkin

List Price: $5.2 million
Sale Price: $4 million
Built new in 2012, this 13-room house stands on a premiere lot, an acre and a half overlooking Lake Michigan from right next door to Lake Bluff’s lovely Sunrise Park. It also has views into a wooded ravine, and is about seven blocks from Lake Bluff’s picturesque village center. The 10,000-square-footer has six bedrooms, seven full bathrooms and one partial, and five fireplaces. It had been on the market since at least last November at $5.2 million. The sale closed June 26.

Photo: Dennis Rodkin

List Price: $4.95 million
Sale Price: $5 million
As I reported last month, a 22nd-floor residence in a prestigious Lake Shore Drive co-op building sold for $5 million. In the end, it had multiple offers and sold for more than the ask, but that was still well below the  $6.9 million the sellers had originally been asking, in 2010.

If you’re looking to spend a few million more, check out these homes with round-numbered asking prices. I couldn’t find anything at exactly $6 million, so skip up a step to:

List Price: $7 million
Here’s a three-bedroom, 6,500-square-foot condo on the 50th floor  of the Fordham.

List Price: $8 million
How about an Astor Street mansion built in 1890?

List Price: $8.995 million
There’s nothing listed at exactly $9 million, but you could get this lavish Lake Forest mansion on 12 acres and have a little left over for tipping the butler.

List Price: $10 million
That’s the pricetag on this Lincoln Park mansion we featured in February.


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