Gold Coast still commands healthy prices

Gold Coast residenceThink of this as a bookend to yesterday’s dismal foreclosure sale in Wicker Park. Chicago Magazine‘s Deal Estate blog is reporting the sale of a seven-bedroom luxury home in the Gold Coast for $4.85 million.

And though the property was built in 1995, it’s still considered “new construction” in a neighborhood where most of the existing real estate dates back to WWI.

Originally listed for $5.95 million in March 2006, the price was dropped to $5.15 before closing at the beginning of December at $4.85 million.

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