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Winnetka’s Priciest Home Goes Up for Auction

Last year I wrote about the North Shore’s 10 Most Expensive Homes for Sale and the list was topped by a Winnetka mansion listed for $28,000,000. The price was subsequently reduced to $23,000,000 and, when it didn’t sell,  the home was taken off the market this past June.

Today, the Wall Street Journal reported that the property will be put up for auction on October 29, 2011, with no minimum reserve.

That could be the deal of the century for someone, as the house will undoubtedly go for a lot less than the $40,000,000 it apparently cost to build and furnish.

Owners Sherwin and Deborah Jarol spent almost five years building the 27,000 foot complex on two and a half acres in the southwest corner of Winnetka. Designed by architect-to-the-stars, Richard Landry, and modeled after a French chateau, the home has 26 rooms, a 9 car garage, swimming pool, complete spa with massage room and salon, large exercise room flooded with light from three sets of french doors, a wine cellar with reclaimed stones from a a french chateau, ornate Venetian plaster walls and hand-scraped walnut floors. The home is set inside a walled enclave with several rows of trees planted along Locust Rd. to provide additional privacy.

If this sounds like your dream home you can contact agent Tim Salm of Sotheby’s Jameson International or Concierge Auctions, who will be handling the sale.

Tags: Luxury homes

North Shore Chicago’s Priciest Homes

Last September I wrote about the ten most expensive homes for sale on the North Shore of Chicago. Since almost a year has passed, I thought it was time to update the list and have a look at what’s happening at the top end of the market.

North Shore’s Top Ten Highest Priced Homes for Sale

None the ten properties at the top of the market a year ago has sold. Three of them have come off the market: 68 Locust Rd. in Winnetka, which had topped the list at $28,000,000 and was later reduced to $23,000,000; 609 Sheridan Rd. in Winnetka; and 925 Edgemere Ct. in Evanston . The rest are still for sale and all but one has taken at least one price reduction. As a result of these price reductions two of last year’s top ten don’t make the cut this year: 1345 Lake Rd. and 955 Lake Rd. in Lake Forest.

It’s not surprising that none of these homes have sold. It goes without saying that there are very few buyers in this price range, especially in this economy. In fact, there have only been seven sales over $5,000,000 in the last year on all of the North Shore. There are thirty five properties listed in this price range, making the odds of selling in a twelve month period about 20%. The average price of the top ten homes has decreased by over $1,000,000 in the last year, even after removing the $28,000,000 outlier that topped the list in 2010.

All of this year’s priciest properties are in either Lake Forest or Highland Park. Interesting that Highland Park, which has some of the most affordable homes of any of the lakefront communities, also has four of the most expensive.

Since I featured five of the current top ten last year, I’ll just feature the five that are new to the list:

22 Lakewood Place, Highland Park – $9,900,000

This nineteen room contemporary house was built in 1999 and is located just south of Rosewood Park and Roger Williams Ave. in the Ravinia area. It has 220 feet of lakefront and a gorgeous beach. It also has a 1200 sq. ft. beach/boat house, a racquetball court and a 12 seat movie theater. The master wing is huge, with his and her dressing rooms and baths. Not sure you want to buy just yet? This home’s also for rent, for $19,500/month. You can see more pictures here.

347 Bluff’s Edge, Highland Park – $7,999,000

The list price of this property includes the planned construction of a French Chateau on two acres of lakefront just north of East Westleigh Rd. The house will have approximately 9,000 square feet, with six bedrooms and seven + baths, two terraces, a state of the art kitchen and lake views from almost every room. You can see more photos here.

275 Sussex Lane, Lake Forest – $7,900,000

This French Country home (see photo above) was built in 1914 on two acres in Lake Forest. It has seventeen rooms, eight bedrooms and eight baths (plus 3 half baths). The kitchen and baths have all been renovated. You may spend a lot on the house, but you won’t need to go on vacation. There’s a beautiful pool and tennis court as well as formal gardens to wander in. You can see more photos here.

105 S. Deere Park, Highland Park – $7,750,000

This historic limestone mansion was built in 1919 and overlooks the ravine conservancy and the lake.  It is located on 2.6 acres in Braeside, just north of the Lake Shore Country Club. The home has fifteen rooms, six bedrooms and 5.3 baths and has been meticulously restored. It even comes with a three story elevator. This home is listed in the National Register of Historic Places and designated as a Highland Park Landmark House. If you’d like to try it out before buying, you can rent this home for $22,000/month. You can see more photos here.

327 Mayflower, Lake Forest – $7,350,000

This lovely Georgian house is only fifteen years old but has already been extensively updated with high end finishes and all the latest technology. It sits on 2.3 private acres near Lake Forest College, with gardens, pool and views of the lake (but no lakefront). Inside there are almost 15,000 sq. ft. of living space, with fourteen rooms, six bedrooms and seven full baths (plus three half baths), four fireplaces, an elevator and a wine cellar (complete with tasting room). You can see more photos here.

Looking for your dream home on the North Shore? I can help you, whatever your budget.  Just give me a call at 847-687-5957 or email me. I’d love to help you!

Related Articles

• The North Shore’s Most Expensive Properties
• Top 11 Highest Priced North Shore Home Sales of 2010

Tags: Luxury homes

Affordable Townhome in Northwest Evanston

If you are searching for a home in Evanston, you will see that there are lots of condos for sale and quite a few single family houses, but not many townhomes, especially in desirable Northwest Evanston.

This townhome at 3326 Culver St. lives like a single family house. It’s a half duplex with lots of space and lots of light. It has three bedrooms, one and a half baths, a large rec room on the lower level and ample closets. It’s been freshly painted throughout and has new carpet and tile as well as new vanities in the bathrooms and a new range and oven in the kitchen. Off of the living/dining room is a spacious patio and there is a parking space off the alley. It is listed at $199,000.

Other than the unit itself, this home has a number of other benefits:

• It is a fee simple home, which means that there are no assessments. It is not part of a condo association. (Of course, that also means you have to shovel your own walk and mow your own grass).
• It is located on a residential one-way street of single-family homes.
• Its private, fenced patio is like an outdoor room to enjoy in the summer.
• It is conveniently located, with easy access to I-94, Old Orchard and Central Street shopping. Public transportation is just steps away.
• It is in the award-winning Willard School elementary school district.

You can get more info here. If you’d like to see this home, please give me a call at 847-687-5957 or email me. I’d be happy to show it to you.

Tags: Evanston homes for sale

Live Across from Thornwood Park

If you like the idea of having a huge yard for your kids to play in that you don’t have to mow, then this may be just the house for you!

This lovely and liveable home at 2345 Thornwood Avenue in Wilmette has a lot to offer both inside and out. It’s got lots of space and an up to date decor. But here’s what I think are its best and most unique features:

1. It’s right on the park so it has a wonderful view and great amenities, including playlot and tennis courts.

2. It’s a block from Harper School, so if you have elementary school age kids, it’s incredibly convenient.

3. Inside, the home has great flow, yet the formal part of the house is separate from the informal areas of the house.

4. The lower level has high ceilings and large windows so the basement doesn’t feel like a basement.

5. The master suite is spacious, private and comfortable and the other family bedrooms are good-sized also.

6. There’s a wonderful roof-top deck that’s perfect for enjoying your morning coffee or an evening cocktail.

7. Two (count ‘em, two!) walk-in pantries to store all your Costco purchases.

8. Tons of storage space  throughout the house.

I could go on and on but why don’t you take the virtual tour and see for yourself. The home has 10 rooms, 5 bedrooms and 4.1 baths and is listed for $1,225,000.

Tags: Thornwood Park, Wilmette homes

“Home Alone” House is For Sale

The most famous home in Winnetka is up for sale. That’s right, the house where Kevin MacAllister was left to fend for himself against a band of bumbling burglars can be yours for $2.4 million.

The “Home Alone” house, where the first movie of the series was filmed in 1990, is located at 671 Lincoln Ave. in Winnetka. The stately Georgian stands on half an acre just a short walk from the Village center. It was built in the 1920’s and purchased by the current owners in 1988 for $875,000.

The house is listed by a fellow Coldwell Banker agent, Marissa Hopkins, and you can see the video she made about the house here.

Tags: famous houses, Home Alone, movie locations

Homes for Sale in Kenilworth Gardens

I’ve written before about the Kenilworth Gardens neighborhood of Wilmette. It’s a popular family-friendly community served by Harper School, one of the four elementary schools in Wilmette. It’s considered an “entry-level” neighborhood for upwardly mobile young couples moving to the North Shore from the city. Since many of the homes have 3-4 bedrooms with one car garages on smaller lots (50 x 122), families often outgrow their homes and move on after 4-5 years.

During the boom years, it was hard to get into Kenilworth Gardens. Homes sold quickly and often with multiple offers. Nowadays, it is taking longer to sell a home here. Many of the would-be sellers bought during the boom years and paid more than their home is currently worth, and it’s hard for them to come to terms with selling for so much less.

There are currently eleven homes for sale in Kenilworth Gardens, ranging in price from

$575,000 to $1,649,000. Most of the houses were built between 1935 and 1960, but two were new construction built from tear-downs of smaller homes.

1917 Greenwood Avenue: $575,000

Eight rooms, three bedrooms and one and a half baths.
Lots size: 50 x 122′
Two  car garage

1913 Thornwood Avenue: $599,000

Eight rooms, three bedrooms and one and a half baths.
Lot size (irregular): 60′ x 127′ on the corner of Ridge Rd.
One car garage
Newer kitchen but otherwise not redone

2154 Thornwood Avenue: $625,000

Eight rooms, three bedrooms, two and a half baths.
Lot size: 50′ x 122′
One car garage

2320 Greenwood Avenue: $629,000

Eight rooms, three bedrooms, two and one half baths.

Lot size: 50′ x 140′
One car garage

2224 Thornwood Avenue: $842,000

Eleven rooms, four bedrooms, three and one half baths
Lot size: 50′ x 122′
Two car garage

2235 Chestnut Avenue: $909,000

Ten rooms, four bedrooms, two and one half baths
Lot size: 50′ x 177′

Two car garage

2131 Beechwood Avenue: $919,000

Ten rooms, four bedrooms, two and one half baths
Lot size: 50′ x 134′
Two car garage
Newer Di Giuilio kitchen

2236 Beechwood Avenue: $ 949,000

Ten rooms, four bedrooms, two and one half baths
Lot size: 50′ x 130′

One car garage

1923 Greenwood Avenue: $965,000

Twelve rooms, five bedrooms, three and one half baths
Lot size: 50′ x 122′
One car garage

1220 Middlebury Lane: $1,375,000.

Eleven rooms, four+ bedrooms, four and one half baths
Lot size: 50′ x 135′
New construction

Oversized two car garage

2411 Thornwood Avenue: $1,649,000

Twelve rooms, five bedrooms, five and one half baths
Lot size: 50′ x 132′
Faces Thornwood Park
Built in 2005
Two car garage

You can get more information about each of these listings here. If you would like to see any of them, please give me a call at 847-687-5957 or email me. I would be happy to show them to you!

Tags: Kenilworth Gardens

Affordable Ranch in Indian Hill Estates

My best buy for this week is 908 Illinois Rd. It’s a three bedroom, two bath ranch home in Indian Hill Estates. It’s priced at $475,000 and here’s why it’s such a great value:

• It is light and bright with a comfortable floor plan. It has a private master suite with a full bath and spacious walk-in closet. It’s even got a workshop in the garage, so if you’re a tinkerer, it might be the home for you.

• It’s the least expensive single family home in the Harper district, so if you want or need to live in this area and are on a budget, this could be a great option for you.

• It’s conveniently located just steps from the PACE bus route and walking distance to both Harper School and Highcrest Middle School.

The downside? The house has no basement, but it does have plenty of storage in the attic and in the garage.

The listing agent is Maureen Spriggs. You can see a virtual tour here. If you’d like to see it in person, just let me know. Maureen or I would be happy to show it to you.

Tags: Homes for sale

Affordable Senior Condos at the Village Green Atrium in Wilmette

Affordable housing for seniors is not easy to find on the North Shore, but it does exist. One affordable senior building in Wilmette is the Village Green Atrium, a 35-unit condominium building for seniors 62 years or older. Located at 800 Ridge Rd. in Wilmette, the building contains 25 one-bedroom units and ten two-bedroom units. It’s in a good location, too. The Treasure Island is right up the street, as are dry cleaners,  a bank and the Ridgeview Grill. The PACE bus stops nearby. And, last but not least,  the police station is right next door, making residents feel secure.

To maintain their affordability, the units are bought and sold at a formula price below market value. There is no income cap, but priority for units goes first to Wilmette residents, then to former Wilmette residents or parents of Wilmette residents, and last to non-Wilmette residents.

To receive an application, view a unit or get more information, you can call Erika Fabisch at the Community Development Department at (847) 853-7522.

Another condominium building with affordable units is Mallinckrodt in the Park. While most of the 81 units sell at market rate, 12 are formula-priced to keep these units affordable.

Tags: senior housing, Village Green Atrium

Meadow Ridge Luxury Townhomes and Duplexes

I took my daughter to her hockey game the other day at North Shore Ice Arena and had some extra time while the kids were getting their pre-game pep talk in the locker room, so I wandered across the street to check out Meadow Ridge, a new community of 164 townhomes and duplexes being  built in Northbrook. It’s just off of Techny Rd., and across from Techny Towers (which you can see in the background of the photo above). I was able to walk through the model and chat with Shannon Gibson-Giampa, one of the sales reps for the development. Here’s what I learned:

There are six different floor plans ranging in size from 2,236 to 2,662 square feet of living space; each has another 285 to 555 square feet of bonus space that can be finished as an office, exercise, storage or media room. Five of the floor plans have three bedrooms and two and a half baths. The sixth has two bedrooms and two and a half baths. Prices range from $495,000 to $895,000. Monthly assessments are $500 – $600.

Meadow Ridge is being built by KZF Development, the same company that built Royal Ridge, a gated community of luxury homes and townhomes on the other side of Waukegan Rd. It’s just north of Willow Festival, so there’s plenty of shopping and dining nearby.

I learned another interesting thing about Meadow Ridge. Like Royal Ridge, it is offered under an alternative form of ownership known as “land lease” or “ground lease”, which means that the land on which it is built is leased, not sold outright to the home buyer. Royal Ridge was the first such arrangement on the North Shore but apparently it’s pretty common in other states and countries. (I think most or all of London works this way). In this case, the land is owned by the Society of the Divine Word and leased for 150 years. Supposedly, the benefit of this to the home buyer is that the home is more affordable. Your initial purchase price will be less than it would be for a comparable residence in which the land is included. Otherwise, it’s pretty much like owning any other home when it comes to mortgage, taxes, insurance and sale, subject to the 150-year ground lease.

The North Shore’s 10 Most Expensive Properties

Zillow just published its annual “10 Most Expensive Homes for Sale” list so I thought it would be fun to do my own list of the 10 most expensive homes for sale on Chicago’s North Shore. While we can’t compete with the Spelling mansion, which, at a jaw-dropping $150,000,000, holds the top honors on Zillow’s list, we do have some pretty impressive properties right here in our own backyard.

The homes that are currently on the North Shore “top ten” list range in price from $7,900,000 to $28,000,000. One is in Evanston, two are in Winnetka, two are in Highland Park and five are in Lake Forest. Seven of them are lake front properties and all but three were built before 1930. And, assuming you can afford the price tag to buy one of these beauties, be prepared to cough up another $30,000-132,000 a year in property taxes.

1. Modern Chateau
Location: Winnetka
For Sale: $28,000,000

I watched this one go up and it took over two years to build. Designed by Richard Landry, this French chateau style mansion is situated on two acres inside a walled enclave. It’s not on the lake but it has pretty much everything else you could want including 26 rooms, a 9-car garage, pool and exquisite finishes throughout. Architect Richard Landry is known as “Architect to the Stars” and also designed the homes of Rod Stewart, Wayne Gretzky, Tom Brady, and Eddie Murphy, among others.

2. The Schweppe Estate
Location: Lake Forest
For Sale: $15,000,000

This gorgeous 27 room manor was built in 1917 and completely restored in the 1980’s by 70 craftsmen from around the U.S. and Europe. The estate’s claim to fame is that it once hosted the Duke and Duchess of Windsor and the heirs to the crown of Sweden.

3.”Little Orchard”
Location: Lake Forest
For Sale: $11,500,000

This 5.4 acre lakefront estate was designed by Howard Van Doren Shaw and built in 1927. It has beautiful gardens and grounds and claims to have the best beach in Lake Forest.

Read the rest of this entry »

Tags: Luxury homes