Dream Town Lands Most Expensive '09 Home Sale in Chicago Real Estate

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) September 16, 2009 -- Chicago's most expensive home sale of the year closed a few weeks ago to the tune of $5.6 million. Christine Carr of Dream Town Realty was the selling agent on the property, which sold after 56 days on the market. The 12,000-square-foot mansion built in 2007 is located in the Chicago neighborhood of Lincoln Park on the 2000 block of N. Howe Street.

The Howe Street residence was listed in May for $5,999,000 and went under contract by mid-July. According to data from the Multiple Listing Service of Northern Illinois (MLSNI), the 6-bedroom, 5.5-bath house sold in a short sale on August 25th for $399,000 below the asking price. Other highlights of the 17-room elevator-equipped house are a home theater, entry gallery, library, bar and gaming room, multi-level wine cellar, 36 x 24 sq. ft. family room, and rooftop putting green. Chicago's most expensive home sold this year also has a four-car attached garage and laundry on both the first and second floors. The penthouse deck features an outdoor fireplace, kitchen, bar and lounge, and unobstructed views of the cityscape. The custom floor plan is outfitted with top-of-the-line finishes and it has a state-of-the-art electronics system with security cameras.

After the $5.6 million paid for Howe Street, the next closet purchase price in Chicago for 2009 is another single-family home located two blocks away on the 1800 block of N. Orchard Street. It sold for $5.1 million in March and in April a house on the 1900 block of N. Mohawk Street (also in the same neighborhood) went for $4.4 million.

"The luxury home market in Chicago is quite active," Carr said referring to residential real estate listed for $750,000 and up. "Dream Town has developed a separate Luxury Sales division to handle all of the high-end property listings we're getting this year."

The August edition of Dream Town's luxury listing report even includes an original Keck House, designed in 1946 by the famous architect duo Keck + Keck. The company's website (www.DreamTown.com) also has a Chicago Luxury Home Search that specifically targets upmarket properties within city limits. Suburban house hunters can use Dream Town's Chicago Suburb Search to look for upscale properties in outside villages.

According to MLSNI market statistics for purchase prices $750,000 and above, the City of Chicago had almost 600 luxury sales in the last nine months. Since the beginning of January there were 263 closings on detached homes and 330 closings for attached properties (condos and townhomes). Average sale price for detached luxury homes sold in Chicago this year is $1,434,655 and attached properties averaged $1,185,268.

About Dream Town Realty
Dream Town is largely recognized as the leader in online Chicago real estate. Their top-ranked website features proprietary technology and applications that improve online house hunting and offer the most advanced Internet home search available today.

Chicago luxury listings     Chicago real estate     home selling     homes for sale     luxury homes