Top 10 Home Sales in Chicago for 2012

Chicago has no shortage of high priced real estate and in the article we are going to look at the top 10 home sales in Chicago for 2012. Since I am writing this on 12/10/2012 if there are any more sales by 12/31 I will make sure they are added.

Most expensive Chicago Condo ever sold1. 800 N. Michigan Ave #66PH, Chicago, Il 60610

Closed on 11/16/2012.

This is at the top of the list with a sold price of $15,000,000, with a market time of 1 day. This home breaks a record for the most expensive condo ever sold in the city of Chicago and is a full floor residence at The Park Tower in the Park Hyatt Hyatt Hotel. 7900 sq. ft 3 bedrooms 4.5 baths plus a 660 sq. ft. terrace, 3 garage spaces and 360-degree panoramic views of the city. $1898/sq. ft.

209 E. Lake Shore Dr2. 209 E. Lake Shore Dr. #12E Chicago, Il 60610

Closed on 7/6/2012

Sold for $6,550,000 (The asking price was $7,250,000). Market time of 133 days. There is quite a gap between the #1 selling price and this home, $8,450,000 to be precise. 209 E. Lake Shore Dr. is 5800 sq. ft. 3 bedrooms, 3.2 baths. This Lake Shore Dr east address boast some of the most coveted high-end real estate in the city. $1129 sq.ft.

 The Fordham 25 E. Superior 3. 25 E. Superior #PH4700, Chicago, Il 60611

Closed on 7/31/2012

Sold for $6,400,000 (The asking price was $6,950,000). Market time of 34 days. This home is 8100 sq. ft, 3 bedrooms, 4.2 baths, included 4 garage spaces and located in the Fordham. It is noted that the owner spent $10,000,000 creating this space. $790 sq. ft.

The Elysian 11 E. Walton Chicago4. 11 E. Walton #5400, Chicago, Il 60611

Closed on 7/9/2012

Sold for $6,000,000. (The asking price was $6,500,000). Market time of 54 days. This home is 6432 sq. ft. 4 bedrooms and 5.1 baths, 3 huge terraces providing 360-degree views of the city and is located in the Elysian (The Waldorf Astoria Hotel Building). This residence was only partially finished. $932 sq. ft.

The Bristol 57 E. Delware Chicago5. 57 E. Delaware #4100, Chicago, Il 60611

Closed on 6/26/2012

Sold for $6,000,000 (The asking price was $6,975,000). Market time of 268 days. This home is 6700 sq. ft, 4 bedrooms, 5 baths, included 3 garage spaces and located in the Bristol. 2 “Sky Top” terraces were included . $895 sq. ft.

The Elysian 11 E. Walton Chicago6. 11 E. Walton #PH56, Chicago, Il 60611

Closed on 4/30/2012

Sold for $5,950,000. (The asking price was $6,350,000). Market time of 53 days. This home is 6000 sq. ft. 4 bedrooms and 4.2 baths, no parking included. This home was sold as a “plain vanilla box”. 360-degree views of the city and is located in the Elysian (The Waldorf Astoria Hotel Building). $991 sq. ft.

1956 N. Orchard Chicago7. 1956 N. Orchard, Chicago, Il 60614

Closed on 6/8/2012

Sold for $5,300,000. (The asking price was $5,999,000). Market time of 254 days. This home is 9890 sq. ft. 7 bedrooms and 6.1 baths with a 3 car garage. This is one of only 2 that are single family homes on the list and built on a double lot. $535 sq. ft.

1340 N. State Parkway #2, Chicago8. 1340 N. State Parkway, Chicago, Il 60610

Closed on 5/1/2012

Sold for $5,200,000. (The asking price was $5,800,000). Market time of 246 days. This home is 7874 sq. ft. 4 bedrooms and 5 baths with 2 garage spaces. This condo is located in the original Playboy Mansion. $660 sq. ft.

Most expensive Chicago Condo ever sold9. 800 N. Michigan Ave., #2601 Chicago, Il 60611

Closed on 7/9/2012

Sold for $4,900,000. (The asking price was $5,750,000). Market time of 431 days. This home is 5239 sq. ft. 3 bedrooms and 3.1 baths with 2 garage spaces. This condo is located in the Park Tower in the Park Hyatt Hotel. $935 sq. ft.

And last but not least…

1521 N. State Parkway Chicago10. 1521 N. State Parkway, Chicago, Il 60610

Closed on 1/6/2012

Sold for $4,725,000. (The asking price was $4,900,000). Market time of 35 days. This home is 9155 sq. ft. 6 bedrooms and 5.3 baths with 2 garage spaces. This home was sold “in need of renovation”. These stately masterpieces in the Gold Coast are generally worth every penny it takes to restore them as they are far and few between. $516 sq. ft.

Well there you have it, those are the top 10 most expensive homes sold in Chicago in 2012. Some observations about this list:

1. Average market time is 150 days or 5 months, I will predict with the lack of inventory in Chicago that market time will be reduced in 2013??
2. Not one of the top 10 homes sold were in the Trump Building. This really surprises me, The Trump building is one of the nicest buildings, imo, but they did hold the record for the most expensive rental in Chicago.
3. Chicago broke the $1000/sq. ft ceiling with the homes at the #1 and #2 spot.

Christine Hancock, Broker Associate with Prudential Rubloff specializing in downtown Chicago Real Estate including The Gold Coast, South Loop, West Loop, Streeterville & Lincoln Park for over 10 years. Call/Email Me today at 312-296-9300, or visit my website at DowntownChicagoRealEstate.com