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1 week ago | 
therealdeal.com | Kelli Duncan
The luxury rental market in Chicagoland is small, but it boasts unique homes, including Michael Jordan’s former estate in Highland Park and one of the top floors of the St. Regis tower. Inventory for high-end renters is “pretty low” and often comes from individual homeowners who need a renter to care for their home for a brief period of time, said Compass broker Janet Borden, who has experience with luxury rentals on Chicago’s North Shore.
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1 week ago | 
therealdeal.com | Kelli Duncan
A true spec mansion on the North Shore is rare, but one just hit the market in Glencoe for $8.3 million. Los Angeles and Miami are known for ultraluxury homes constructed for no specific buyer and marketed to wealthy people, but things are different in Chicago’s affluent suburbs. Developers compete for scarce land, and demand for new construction is so high that builders often end up accepting bids from buyers early on, shifting projects to custom builds.
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2 weeks ago | 
therealdeal.com | Kelli Duncan
A Lincoln Park home set on a double lot hit the market last week at just under $7.2 million, asking more than 30 percent over its last trade in 2022. The six-bedroom, seven-bathroom mansion at 2043 North Clifton Avenue spans 7,800 square feet for a list price of $918 per square foot, according to public listing information. The property last sold for just under $5.5 million, or $700 per square foot, in March 2022.
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2 weeks ago | 
therealdeal.com | Kelli Duncan
The head of a local real estate school is suing one of his students for allegedly running a “Ponzi-like scheme” that required taking on over $10 million in loans from individuals to pay off other troubled debts on dozens of South Side homes now headed for foreclosure.
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3 weeks ago | 
therealdeal.com | Kelli Duncan
Soybean mogul Aluizio Riberio is headed back to Brazil with his family less than a year after he paid $6 million for a renovated, century-old home in the wealthy Chicago suburb of Hinsdale. The historic home, which was heavily renovated in 2023, is back on the market priced just below what Riberio paid for it in August of last year.
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3 weeks ago | 
therealdeal.com | Kelli Duncan
Two St. Regis condos listed for resale this week for $6.8 million and $7 million. As sales and resales pick back up at 401 East Wacker Drive, listing agents are competing to draw luxury buyers, flaunting their floorplans, cutting prices or leaning on private marketing. The $6.8 million 61st-floor unit has four bedrooms, six bathrooms and spans over 4,700 square feet for a list price of $1,434 per square foot.
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4 weeks ago | 
therealdeal.com | Kelli Duncan
Chicago real estate brokerages are butting heads over the National Association of Realtors’ Clear Cooperation Policy, with larger firms ready to ditch it for a “fresh start” that will help them keep raking in market share, while smaller firms are fighting for survival. Industry insiders consider the 5-year-old policy dead in the water after NAR reevaluated it last year, and many are waiting on the Department of Justice to take a clear position on the matter.
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1 month ago | 
therealdeal.com | Kelli Duncan
The sellers of a Gold Coast mansion listed their home for nearly $9 million this month after marketing it privately. The pocket listing at 1534 North Dearborn Parkway was seeking $9.75 million in 2023, when very few properties in the neighborhood were trading for more than $6 million. The private listing was brief, however, and now the sellers are back with the new ask, according to public listing information.
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1 month ago | 
therealdeal.com | Kelli Duncan |Sam Lounsberry |Adam Farence
Andrew Holmes congratulated South Side single-family investor Chris Urban on completing his 75th real estate deal in 2022, calling it a “huge accomplishment” and posting a video tour of the home, and Chris joked about losing count of how many properties he had rehabilitated. About two years later, Holmes was warning fellow Chicago investors about Chris, who he accused of running a Ponzi-like scheme that required taking out loans from individuals to pay off other troubled single-family home debts.
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1 month ago | 
therealdeal.com | Kelli Duncan
Shows like “Million Dollar Listing” and “Selling Tampa” have captivated viewers with inside looks into luxurious homes in some of the country’s biggest real estate markets. Now, it’s Chicago’s turn. Chicago area viewers can watch “The Listing” on KMAQ beginning Sunday at 8:30 a.m., according to a news release. It will air every Sunday, immediately following NBC’s 8 a.m. news broadcast.
