New data from RealtyTrac shows that foreclosures were up 30 percent in Chicago last year, but one sector of the market is doing better than ever: high-end homes. According to Midwest Real Estate Data, the 2012 sales of million-dollar-plus places totaled 1,529 — up nearly 15 percent from 2011 and hitting their highest level since 2008. And for good reason: “There’s a pent-up demand, and the supply of luxury properties is so tight that great places go fast,” says Prudential Rubloff broker Janet Owen (call 312-268-0700). Owen just listed 1866 N. Howe, an 11,000-square-foot, six-bedroom, five full-bath, three half-bath, four-car-garage house with four terraces for $10 million — and is already reporting back-to-back showings for the place.
The Lincoln Park spread is so pristine that in 2010, at the height of the real estate bust, she sold it in a week for its full asking price of $8.5 million. Back then, the property included only two lots, but this time around it’s also available with an additional third lot, bringing the curbside exposure to a stunning 75 feet and warranting a higher asking price.
“It’s reasonable considering all the improvements they’ve made, which include an enlarged master suite, a mud room, another bathroom and more,” she notes. Of course, Owen is hoping for a repeat of 2010.
Looking for more real estate eye candy? Here are some dazzling options just under the million-dollar mark.
Artistic types will covet the open reaches of this Bucktown storefront at 2116 N. Leavitt (main images, above). It’s been converted into a three-bedroom, 2.5-bath and is going for $799,000 (call Prudential Rubloff broker Brad Lippitz, 773-404-1144).
For timeless elegance, consider a newly built five-bedroom, 3.5-bath neoclassical number in Logan Square at 2426 W. Belden for $979,000 (call Coldwell Banker broker Chaz Walters, 773-405-8707).
A sweet five-bed, 3.5-bath home at 5843 N. Kenneth — listed at $999,000 — was built in 2008 and is a chic update of a classic Colonial (call Jameson Sotheby’s Sabina Szura at 312-719-9991).
Traditionalists will appreciate the pristine architectural detailing in this vintage six-bed, three-bath, two half-bath Buena Park home at 844 W. Junior Terrace, on the market for $995,000 (call Prudential Rubloff broker Brad Lippitz, 773-404-1144).
Elegant men’s boutique Zaharoff (110 E. Oak, Zaharoff360.com) is adding to its oeuvre, stocking furniture and jewelry by noted local designer Jordan Mozer. We love the Creature table, which comes in cast aluminum ($3,500), though special orders in bronze are accepted.