UP!: While the local housing market struggles to climb out of the doldrums, wealthy would-be homeowners are plunking down sky-high sums for lofty, luxurious homes in new downtown condo towers. What’s driving those sales? Timing, timing, timing
EXORCISING THE GHOSTS: A new realty team helps revive sales at dormant downtown Silver Tower
NOT-SO-RISKY-BUSINESS: A report projects a big quarterly drop in the risk of further declines in home values in the Chicago area.
List Price: $2.4 million
Sale Price: $2.275 million
The Property: The lawyer and politician Richard J. Phelan and his wife, Barbara, sold their 21st-floor condo at 840 North Lake Shore Drive on June 28th.
List Price: $7.5 million
The Property: Poised atop the lakeside bluff in Glencoe, this 18-room mansion has lots of rich, carefully restored period detail mingled with well-handled modernizations. A disused dumbwaiter shaft, for example, now holds the thicket of cables…
ON THE CLOCK: Developer hopes rental strategy buys more time
Ninety years after it opened as one Chicago’s most lavish apartment hotels, the Sheridan Plaza, at Sheridan Road and Wilson Avenue, is getting back its Jazz Age luster…
List Price: $1.5 million
Sale Price: $1.05 million
The Property: Nestled into the trees at the edge of a ravine in east Lake Forest, this tile-roofed teahouse is a remnant of Walden, the 80-acre lakefront estate of Cyrus H. McCormick II. Built in the 1920s, it was converted to a house in the 1950s…
List Price: $3.25 million
The Property: Bret and Ursula Boyd drew on their European travels and Ursula’s Slovenian heritage when they built this 19-room house for themselves in Lake Forest in 2003…
Jim McClelland, the CEO of the Tinley Park–based Mack Industries, is helping some hard-hit south suburbs recover from the foreclosure crisis by creating some well-equipped and well-managed rental housing for residents of those towns. A longtime builder, McClelland began the project about five years ago…
