18 February 20, 2017 • CRAIN’S CHICAGO BUSINESS Jumphed goes here please and here too please
RICHEST HOMES from Page 1 the six-county region in 2016 rose 4.3 percent, to 116,500 sales from L R LIST HomeServices KoenigRubloff111,700 in 2015, according to the There were 2,423 luxury home sales ($1 million or more) in 2016, 2.5 percent more than in 2015. The agent in Chicago who specializes Illinois Association of Realtors. median sale price was $1.325 million, 1 percent o the previous year’s median, $1.34 million, according in expensive homes. Locally, the top year for sales of Meantime, brokers say, a rise at least $1 million was 2006, just to a report from ReMax Northern Illinois. It was the second year in a row that the median price of $1 in mortgage rates, which might before the housing bust, when million-and-up sales declined. These homes spent more time on the market in 2016, too. The average cause first-time buyers to rethink 2,433 homes sold in that price a purchase, is a nonissue for the bracket. Ten years later, the top number of days a luxury home spent on the market prior to selling was 165 in 2016, 22 percent longer 1 percent. end has almost clawed its way than 2015’s 135-day average, according to the report. Owen says the presidential back to that peak, coming in a contest also was a big reason that mere 10 sales below. P N AN IN OM SAL S I A O N I BO OO S I MOS L SAL S the luxury home market paused The highest-priced home sale in 2 16 s. 2 15 2 15 s.2 14 as 2016 came to a close. Among 2016 was $11.7 million, for a 52nd- 20% affluent buyers and sellers, she floor condo at the Waldorf Astoria 1 L says, “there was paralysis, both on the Near North Side in early 15 pre-election and post-election, July. The highest price for an arm’s- N C because people didn’t know what length sale in 2015: $18.8 million, 10 was going to happen.” which an entity associated with While the numbers don’t assign filmmaker George Lucas and his 5 2 6 blame or credit, they do show a Chicago-native wife, investment 4 1 0 L P second-half slowdown. In 2015, executive Mellody Hobson, paid 3 five of the six sales of $10 million for a unit at the nearby Park Tower. or more came in the second half, (The comparison here is to trans- -5 Detached homes Attached homes Total in L while in 2016, just one of two did. actions between unrelated indi- in Chicago in Chicago suburbs N N Of the top 50 sales in 2015, 38 sold viduals. The No. 1 sale on 2015’s list in the last six months of the year; in was the $25 million sale of a Win- 2016, the number dropped to 32. netka estate between entities that S B BS I MOS L SAL S IN 2 16 Single family homes Luxury home sales slowed were both related to one family.) Hinsdale 144 Lincoln Park 16 across the country, too, from San Last place among the top 50 Francisco to Houston to Miami, was a $3.78 million sale of a Win- Winnetka 144 North Center 12 which have been booming the netka home in April. That was 5.5 Wilmette 12 Lakeview 1 6 last several years. percent lower than the $4 million Lake Forest 7 In the Chicago area, 2,423 homes price of the four homes that tied ondos and to nhouses sold for $1 million or more in 2016, for last place in 2015. Glenview 82 Near North 274 according to Midwest Real Estate How does 2017 look? Through Glencoe Data. That’s up 2.5 percent from mid-February, two homes have Lincoln Park 73 Evanston 8 2,362 in 2015. But $1 million-plus sold for $4 million or more. By com- Loop 8 sales increased 8.5 percent the parison, three sales in the year-ear- Elmhurst 48 year before. Meantime, the total lier period were rich enough to Note: Luxury home sales represented in this data include those in Cook, DuPage, Kane, Kendall, Lake, McHenry and Will counties with a sale price of $1 million or more. number of home purchases in make 2016’s priciest homes list. Source: Re/Max CRAIN’S LIST PRICIEST HOME SALES
Purchase price Address Neighborhood/suburb Sq. ft. Price per sq. ft. Purchase date Buyer(s) Seller(s) 16 $4.9 MILLION Fullerton Parkway, Chicago 60614 Lincoln Park 6,500 $754 May 6 NA Ellen Rakieten 17 $4.8 MILLION Mohawk Street, Chicago 60614 Lincoln Park 6,400 $757 April 26 John W. Rutledge Trust Stratton EC Inc. 17 $4.8 MILLION Whitebridge Hill Road 60093 Winnetka 7,000 $686 Sept. 7 Snowbird Properties LLC Mark J. Anson and Mary L. Hayes 17 $4.8 MILLION Walton Street, Chicago 60611 Near North Side 4,008 $1,195 April 7 Chicago Title Land Trust William F. and Amalia P. Mahoney 17 $4.8 MILLION Webster Avenue, Chicago 60614 Lincoln Park 6,785 $704 June 15 Jaglion Trust Christopher and Lisa Cartwright 21 $4.7 MILLION Delaware Place, Chicago 60911 Magnificent Mile NA NA March 23 Chicago Title Land Trust Charles S. Wolande 21 $4.7 MILLION Rock Ridge Lane 60010 Barrington Hills 14,204 $327 Nov. 2 Barry N. Shear NA 23 $4.6 MILLION Chestnut Street, Chicago 60611 Near North Side 8,000 $569 Sept. 1 KPLN Holdings LLC-50 Chestnut Series Jean-Luc and Carole Butel 24 $4.5 MILLION Michigan Avenue, Chicago 60611 Magnificent Mile 6,240 $721 May 9 Georges and Leila El-Zoghbi Jay M. Gratz 24 $4.5 MILLION Huron Street, Chicago 60611 River North/Near North Side 5,143 $875 Aug. 24 Iris Tu Louis and Gloria Cairo 24 $4.5 MILLION Michigan Avenue, Chicago 60611 Magnificent Mile 4,200 $1,065 July 20 Michael G. Medzigian W. Bruce Lunsford and Jennifer McAdams 27 $4.4 MILLION Kenmore Avenue, Chicago 60614 Lincoln Park 7,000 $629 Dec. 30 NA Environs Development $4.3 MILLION Pearson Street, Chicago 60611 Near North Side 3,613 $1,190 July 13 Richard M. Stainton and Virginia K. Louis A. Klobuchar Jr. 28 Simmons $4.3 MILLION Michigan Avenue 60091 Wilmette 0.9 acres Not May 16 Chicago Title Land Trust Chicago Title Land Trust 28 applicable 28 $4.3 MILLION Sheridan Road* 60093 Winnetka 4,800 $885 Sept. 26 1035 Sheridan LLC Jeanne Randall Malkin 31 $4.2 MILLION Elm Street, Chicago 60611 Gold Coast NA NA June 30 Kevin Berg NA $4.2 MILLION Elm Street, Chicago 60611 Gold Coast 3,516 $1,191 July 13 Daniel l Frazier (DLF Property Holdings Elm State Properties LLC 31 LLC) 33 $4.1 MILLION Cleveland Avenue, Chicago 60614 Old Town Triangle NA NA Sept. 21 John and Kristina Mulhall Kemery Bloom 33 $4.1 MILLION Dayton Street, Chicago 60614 Lincoln Park 7,000 $586 May 27 Chicago Title Land Trust Middlefork Development LLC CRAIN’S CHICAGO BUSINESS • February 20, 2017 19 CRAIN’S LIST PRICIEST HOME SALES
Purchase price Address Neighborhood/suburb Sq. ft. Price per sq. ft. Purchase date Buyer(s) Seller(s) 34 $4.1 MILLION Walton Place, Chicago 60611 Magnificent Mile 4,292 $955 Sept. 23 Jeffrey Evens Vincent A. Vaughn 36 $4.0 MILLION Sheridan Road 60043 Kenilworth 5,000 $800 March 15 Debra Cafaro and Terrance Livingston Chong-Bun, Renee Mei and Eric Wei Yap 36 $4.0 MILLION Green Bay Road 60045 Lake Forest 7,616 $525 Oct. 6 Roger Stone Roman and Katherine Lipp 36 $4.0 MILLION Cleveland Road 60521 Hinsdale NA NA Dec. 14 John and Laura Araujo Jeff and Linda Sluman 36 $4.0 MILLION Elm Street, Chicago 60611 Gold Coast 3,486 $1,144 May 19 NA NA 36 $4.0 MILLION Walton Street, Chicago 60611 Near North Side NA NA Sept. 6 NA NA 36 $4.0 MILLION Elm Street, Chicago 60611 Gold Coast 3,486 $1,137 May 19 James and Renee Metcalf Elm State Properties LLC 36 $4.0 MILLION Roslyn Place 60201 Evanston 3,924 $1,007 Jan. 25 Edward and Jean Schneidman Mary Anne Hoover 43 $3.9 MILLION Chestnut Street 60093 Winnetka 6,300 $620 Jan. 15 Craig and Alison Randall Chestnut St LLC 43 $3.9 MILLION Elm Street, Chicago 60611 Gold Coast 3,486 $1,116 June 24 Chicago Title Land Trust Elm State Properties LLC 45 $3.8 MILLION Walton Street, Chicago 60611 Near North Side 3,436 $1,113 April 4 Chicago Title Land Trust Daniel and Margaret Kadjan 45 $3.8 MILLION Cleveland Avenue, Chicago 60614 Old Town Triangle 6,400 $598 July 11 Mark and Mary Gable Muskie Trust 45 $3.8 MILLION Wilmot Avenue, Chicago 60647 West Town NA NA July 1 Chicago Title Land Trust 1763 N Wilmot LLC 45 $3.8 MILLION Greenview Avenue, Chicago 60613 Lakeview 7,159 $531 Dec. 1 Graceland West LLC Stephanie Morimoto 45 $3.8 MILLION Elm Street, Chicago 60611 Gold Coast 3,486 $1,088 May 31 NA NA 45 $3.8 MILLION Lincoln Avenue 60093 Winnetka 7,050 $536 April 16 Ronald and Barbara Bukovac Donald and Molly Fezell
Ranked by purchase price. Includes homes sold in Cook, DuPage, Kane, Lake (Ill.), Lake (Ind.), McHenry and Will counties between Jan. 1 and Dec. 31, 2016. Purchase price is rounded to the nearest thousand. NA: Not available. *Property is currently listed for sale at $13.8 million after a teardown and construction of a new house with 19,000 square feet of finished space. Researched and edited by Sabrina Gasulla and Dennis Rodkin
of our subscribers are millionaires
How do you think they got there?
SUBSCRIBE NOW FOR $ 5! CHICAGOBUSINESS.COM/5FOR5