Tagged : Luxury Chicago Real Estate News

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While Chicago’s real estate market has been off to a fast start in 2017, the luxury market in 2016 actually cooled off a bit compared to a year prior, at least when it comes to the region’s priciest homes.  

According a recent report from Crain's Chicago Business, just two homes in the six-county Chicagoland region sold for $10 million or over back in 2016, which is down from 6 homes at that price point back in 2015. Even with the dip in ultra-luxury home sales, however, 2,423 homes priced at $1 million or more also sold back in 2016, which is a 2.5% increase compared to 2015. 

As you might expect, top selling suburbs in the luxury category were Hinsdale (144 luxury sales), Winnetka (144 luxury sales), Wilmette (120 luxury sales), Lake Forest (97

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While the Chicago real estate market has remained hot during the early part of 2017, an interesting piece in Crain’s revealed now may not be the best time to list a luxury home in Lincoln Park. 

According to data in the report, 69 luxury Lincoln Park homes were added to the market last month, bringing the total number of homes listed to 169, which now marks a two year high. And with sales numbers remaining steady, the selling inventory is now bringing home prices in the area down. 

Going off of recent numbers from the Chicago Association of Realtors, homes in Lincoln Park that went under contract last month had a median asking price of under $1.5 million, which is well below the median asking price just one year prior of $1.85 million. And while

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From a design standpoint, 2035 N. Orleans is one of Lincoln Park’s most unique condo developments currently under construction given its exterior facade will incorporate an old 1930s-era parking garage that will no doubt give the building an added sense of character and allure.  

A luxury development that will only feature 10 units, however, opportunities to own a condo at 2035 N. Orleans will no doubt be limited. But just recently, the building’s ultra-luxe penthouse units officially hit the MLS, present high-end condo buyers with two of Lincoln Park’s most expensive options currently on the market, asking $3,650,000 and $3,500,000 respectively.  

Penthouse E, the more expensive of the two units, features five bedrooms and five bathrooms while also

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