Listed: Price Shattering $18.75M Single Family Home Hits Chicago Market
Crazy price or crazy love? Just listed in Lincoln Park, a 17-room gated estate set a record for the most expensive single family home in Chi-Town. What's all the fuss?
"There has never been a residence of this significance on the [Chicago] market," claims the promotion material. Proclamations such as these poke a skeptical bear. Is this an attempt at some reverse marketing psychology jujitsu to lull us into a state of malleable suggestibility? They're not getting all purple prosaic or battering us with a rhyming bend, like this D.C. agent who thinks he discovered the marketing grail by enticing with misdirection: a basement apartment described as a "light filled patio unit." Old tricks, old tricks.
Photo by: KoenigRubloff
Indoor Pool. Located at 1955 N. Burling St., one of the most expensive blocks in the city, the 20,000-square-foot Lincoln Park estate stretching across five city lots and glints under a limestone façade. It rocks a glamorous indoor swimming pool, serene outdoor dining, romantic gardens, a 2-bedroom guest house (every house should have one!), a 6-car garage, wide screen home theater for “girls night in,” and a game room and family-style lounge and bar. Yeah, it’s in the city! Asking (whoa!) $18.75M.
The agent here, Janet Owen of KoenigRubloff, is giving it to you straight. It is a significant listing. In these parts, the $18.75 million sticker price is blinding but nowhere near the spikey heat of the reported $147 million shelled out by Jana Partners hedge fund head Barry Rosenstein for an 18-acre, beach fronting East Hampton, N.Y., "trophy" home, according to Bloomberg.
Built in 2004, this 20,000-square-foot, 3-story limestone Lincoln Park estate burns up five city-size lots, has an indoor pool big enough for a block party, 17 rooms, a 6-car garage and 2-bedroom guest house. The taxman wants $156,000 per year and it handily holds the Chicago 2014 price title (so far) for single family dwellings, in the ballpark of
Michael Jordan's 56,000-square-foot Highland Park estate (the one that flopped and fizzled at auction last year). But it's asking nearly half of the Donald's
Trump Towers penthouse, the priciest trim in town still looking for love at
$32 million. If you didn't know better, you might think that two other pretty luxe homes, close by on Burling Street, sound like millionaire hand-me-downs: a 7-bed, 6.2-bath listed for $4.19M and a 7,525-square-footer ringing in at $3.39M. It's apples and elephants.
Janet Owen for KoenigRubloff (who gave FrontDoor an insider's scoop
for sellers in the Chicago market). Significant? Go see.
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