Is there a demand for homes priced above $1.5 million in Lake View right now? According to Redfin, 21 (or 11 percent) of the 191 single-families that have sold in the 60613 and 60657 ZIP codes over the past year were priced above that amount.
By contrast, 40 (28 percent) of the 142 homes currently listed in those ZIPs are priced above $1.5 million.
Ten listings are priced above $2.75 million, but only one home has sold above that amount in the past year, and only three have sold above it in the past three years.
What do we know about these high-end homes? They’re evenly split between 60613, which covers Lake View north of Addison Avenue, as well as Buena Park, and 60657, the area of Lake View between Addison and Diversey. (The portions of North Center between Damen and Ravenswood are also included.)
They have anywhere from four to seven bedrooms, 3.5 to 7.5 baths, and 4,000 to 9,000 square feet, and a majority are no older than five years old. Five have been on the market for no more than a month, and 17 for no more than three months.
In a few cases, these high-end listings, including the most expensive of the bunch, are proposed custom homes, not actual existing units. The most expensive existing home is at 1010 W George St, priced at $3.89 million.
From its listing: “Crafted from an 1885 church, the current owners have created an entertainment masterpiece that includes an incredibly large lofted living room that overlooks the indoor pool, a mezzanine level with family room, a master suite beyond ability to describe, full knotty pine spa room, stunning roof deck with complete kitchen and fireplace, elevator, and garage.” The building last sold in November 2008 for $1 million.