Chicago mansions for sale down 14% in Q2

While the inventory of luxury condos was up in the second quarter the inventory of mansions for sale dropped 14.0% from second quarter 2013.* There were 37 mansions for sale compared with 43 a year earlier. The number of distressed listings (short sales and foreclosures) stayed at 1.

Chicago Mansions For Sale, Pending & Sold 2nd Qtr. 2011 - 2nd Qtr. 2014 Chart

Chicago Mansions For Sale, Pending & Sold 2nd Qtr. 2011 – 2nd Qtr. 2014

The number of pending sales for Chicago mansions in the second quarter rose 200% from second quarter 2013. There were 6 houses with a minimum of 8,000 square feet with pending sales compared with 2 a year ago.

Actual sales were also up. There were 3 mansions sold in the second quarter compared to 1 a year earlier. Sales included:

  • 2138 N Hudson, a former artist colony in Lincoln Park, sold for $5,100,000.
  • 1239 N Wood, a 22,000 square foot home in West Town, sold for $3,100,000.
  • 3737 S Normal, a home in Bridgeport, sold for $1,065,000.

CHICAGO MANSIONS FOR SALE

AddressAreaPriceMy Reports
1955 N BurlingLincoln Park$18,750,000
924 N ClarkOld Town$13,900,000
1547 N DearbornGold Coast$13,750,000Vintage Mansion - My Report
1909 N OrchardLincoln Park$13,500,000
2018 N DaytonLincoln Park$12,900,000
1905 N OrchardLincoln Park$11,550,000
2020 N DaytonLincoln Park$8,500,000
1508 N StateGold Coast$8,995,000Vintage Mansion - My Report
2466 N LakeviewLincoln Park$8,695,000
1944 N HoweLincoln Park$8,600,000
1941 N FremontLincoln Park$7,500,000
1400 N AstorGold Coast$6,500,000
2137 N KenmoreLincoln Park$6,195,000
2141 N KenmoreLincoln Park$5,795,000
469 W SuperiorRiver North$4,900,000
1841 N SedgwickLincoln Park$4,750,000Newer Mansion - My Report
1735 N HonoreBucktown$3,950,000
2333 N ClevelandLincoln Park$3,950,000
1500 N DearbornGold Coast$3,950,000
1345 W WolframLakeview$2,850,000Newer Mansion - My Report
1424 W OhioWest Town$2,500,000
5820 N PaulinaEdgewater$2,375,000
6135 N KnoxSauganash$1,999,900Vintage Mansion - My Report
3214 S CanalBridgeport$1,899,999
1000 E 48thKenwood$1,899,000
3300 S NormalBridgeport$1,499,900
4179 S LoweNew City$1,499,000
6302 N MontecelloNorth Park$1,300,000
4518 S DrexelKenwood$1,269,000Vintage Mansion - My Report
4512 S DrexelKenwood$1,200,000
4805 S DrexelKenwood$1,100,000
7515 S ColesSouth Shore$299,000

QUESTIONS?

Call us at 773-793-4516 or email us.

Chicago mansions are scattered around the city, but most are in Lincoln Park, the Gold Coast or River North

WHAT THIS MEANS FOR CHICAGO MANSION BUYERS

Less inventory and rising sales mean you need to be ready to buy when you find a home you want. If you will be financing your purchase, get your mortgage pre-approval before you start touring homes. Contact me for recommended mortgage consultants. If you’re paying cash, get a proof of funds letter from your accountant or banker ready to go. Contact me to get started.

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Chicago Luxury Homes For Sale

WHAT THIS MEANS FOR CHICAGO MANSION SELLERS

If your home is priced right when it goes on market, it should sell in less than 9 months. The average days on market was 263 days.

Mansions take longer to sell due to a smaller market for them. The inventory has only varied by a few homes during the past few years. If you’re considering selling your home, contact me for a free market analysis.

*Information is based on data from Midwest Real Estate Data (MRED).

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ABOUT THE AUTHOR

Fran Bailey Fran Bailey is a Realtor who has been quoted in numerous Chicago and national publications. To schedule showings for any listings, get a free market analysis for your home or to contact Fran email her at fran.bailey@bairdwarner.com or call 773-793-4516. Learn More