realestate

Lincoln Park Luxury Estate Lists for $7.5 Million with Potential for Renovation

Lincoln Park Mansion Lists for $7.5 Million Amid Teardown Frenzy

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Lincoln Park mansion has hit the market at $7.5 million, a price point that may seem high given the current trend of tearing down older homes to build new ones. However, broker Emily Sachs Wong believes this limestone property will appeal to buyers seeking unique character and style, particularly in reaction to the proliferation of modern homes in the area.

    "We're heading back into personality for houses," Sachs Wong said, noting that after the recession, there was a shift towards modern, minimalist designs with minimal ornamentation. Now, buyers are looking for more individuality and charm in their homes.

    The 8,000-square-foot property at 2210 North Orchard Street boasts six bedrooms, six bathrooms, and high ceilings throughout its spacious interior. Despite being built just 23 years ago, the home's layout and design have stood the test of time, making it an attractive option for buyers who value character over new construction.

    However, Sachs Wong acknowledges that the market demands frequent renovations, particularly in kitchens and bathrooms, which can be a challenge for sellers to keep up with. Nevertheless, she believes the property's location near Oz Park and its potential for renovation make it an attractive investment opportunity.

    As Lincoln Park continues to see a high volume of teardowns and new construction, Sachs Wong is hopeful that buyers will begin to appreciate the value of preserving existing homes in good condition. "Chicago has some amazing buildings," she said, "and I'm hopeful that people want to keep the ones that are in good shape and look good."

Lincoln Park luxury estate listed at $7.5 million, potential renovation opportunity.