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luxurious property in Lincoln Park has recently been listed for sale at an impressive $15 million price tag, making it one of the most expensive properties in the area. The property spans an expansive 15,000 square feet, with each square foot costing a cool $1,000. The listing was made public after spending a month on an exclusive agents-only network.
The property's asking price places it as the second most expensive listing in Cook County, behind a penthouse owned by billionaire Ken Griffin, which is listed at $15.75 million. The property's price is just $250,000 shy of the sale price of another Lincoln Park mansion that sold at a significant loss to its sellers, who had custom-built the property.
The recent sale of a mansion on 1932 North Burling Street, another Lincoln Park property, is worth noting. This property was sold at a loss of $50 million to its sellers, who had put it on the market since 2016 and took multiple price cuts before finally selling last month.
The Dickens Avenue listing is part of a trend of ultra-high-end single-family homes on Chicago's North Shore, where there are several mansions for sale at prices of up to $35 million and $18 million. Residential sales of more than $10 million in the Chicago area are rare, and if more than a few such sales occur this year, it would indicate a significant increase in volume for the upper end of the luxury market.
The sellers of the seven-bedroom, ten-bathroom mansion on West Dickens are represented by Tim Salm and Ryan Preuett of Jameson Sotheby’s International Realty. While the property was purchased through an LLC that conceals the identity of the buyer, retired Chicago Trading Company executive Paul Kepes and his wife Monica previously disclosed that they were the owners who spent $20 million to buy the land and build the property.
The architectural design of the Dickens Avenue mansion was done by Kathryn Quinn Architects, a boutique architectural firm based in Chicago. The property boasts five different outdoor spaces, including private terraces and decks spanning 3,880 square feet, a basketball area, a water feature, and a vegetable garden. The property's tax bill for 2022 is $150,309, according to listing data.
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