$9,000,000 in Evanston? (Chicago, Lake Forest: sales, condo, co-ops)

[Lookout Kid]

Originally Posted by Anthera

Evanston is very nice, but most people looking to spend over 4 million on a house don't look there. I don't know what the highest priced residential property is that has sold in Evanston, but I'm sure it wasn't anywhere near 9 million, or 4 million.

There are many $5 million plus homes along the lake in Evanston. Houses across the street from the lake in Evanston have routinely sold for $3 million or more in the past.

[Lookout Kid]

Originally Posted by ajolotl

I personally prefer Evanston to the other North Shore communities. When places are uniformly wealthy they lose a lot of their energy and spontaneity. I strongly prefer the vibe of a place with a mixture of people -- students, some rich people, some struggling artists, people from different countries, some blue collar people. Evanston has much more of that. Anyhow Evanston has more and better commercial areas than any of the other North Shore communities. I like to get out of my house.

I strongly agree. People also want to be closer to the city these days, and Evanston offers the best North Shore location in that respect.

[via chicago]

Originally Posted by hsw

White elephant

Real estate is heavily about location/setting/feel/neighbors; who the hell wants to live in Evanston?

IIRC, ?595 Sheridan in Winnetka sold in ?'02 for about $3.5MM/acre; costs about $1-2K/sf to build a bespoke, latest-tech house

Not many who can afford >$5MM houses want used houses; any used house on desirable land is a land buy and teardown, and buyer wants to design/build what they desire w/a competent architect and builder

Most people only build one primary family house in their lifetime; why reside in someone's used, ancient house?

"Ancient"? By what standards?

There are plenty of people who value the architectural significance and and charms of old properties, myself included.

And whos "most people"? "Most people" NEVER build their own house. What I find iroinic is all these people who engage in teardowns of architectural jewels, only to build some "faux" Disneyland version of what they just demolished. Ask yourself this question, are people going to talk about the architectural value of your teardown replacement 100 or 200 years from now?

[Lookout Kid]

Originally Posted by chet everett

A quick glance at the photo's reveals design choices that, to put it nicely, are "highly personal". The odds of these choices resonating with another buyer are extraordinary slim.

Looking more closely at the photos, I'd have to agree with you there. It's definitely not my taste, but M.C. Hammer did eventually sell his place, so anything is possible.

[chet everett]

There are reason that famous architects are famous, and generally having client with large checkbooks IS not one of the better ones -- any fool builder can "stock up" on elaborate fixtures, tiles, and finishes, but such things DO NOT age well. Believe me if you have seen some of the "bachelor pads" that get gutted every few decades in the Gold Coast / Streeterville high rises you would cry at what comes of materials that were once "hot".

In my experience the high end properties that reflect timeless choices find the most eager buyers. Even when talking about homes that from the outside would seem to be "flashy" those that tend to have an understated backdrop for an owner's extensive art collection or similar personalization generally sell more quickly and for a greater percentage of list...

I suspect the listing agent on this property is using its extremely high listing to generate "buzz" on it own, a strategy that seems unlikely to be successful in these economic times and in Evanston.

The waterfront estates of Lake Forest or other towns that make it harder for the unwashed masses to even get a glimpse of life among the "monied set" do attract a very different set of buyers than those who really care about being closer to Chicago, and I just do not see the how a buyer in this price range is going to be charmed by what I see in these photos...

[Lookout Kid]

Originally Posted by chet everett

There are reason that famous architects are famous, and generally having client with large checkbooks IS not one of the better ones -- any fool builder can "stock up" on elaborate fixtures, tiles, and finishes, but such things DO NOT age well. Believe me if you have seen some of the "bachelor pads" that get gutted every few decades in the Gold Coast / Streeterville high rises you would cry at what comes of materials that were once "hot".

In my experience the high end properties that reflect timeless choices find the most eager buyers. Even when talking about homes that from the outside would seem to be "flashy" those that tend to have an understated backdrop for an owner's extensive art collection or similar personalization generally sell more quickly and for a greater percentage of list...

I suspect the listing agent on this property is using its extremely high listing to generate "buzz" on it own, a strategy that seems unlikely to be successful in these economic times and in Evanston.

The waterfront estates of Lake Forest or other towns that make it harder for the unwashed masses to even get a glimpse of life among the "monied set" do attract a very different set of buyers than those who really care about being closer to Chicago, and I just do not see the how a buyer in this price range is going to be charmed by what I see in these photos...

Well, I disagree about the "monied set" not wanting to be in Evanston, but you are right about this particular house. It's tacky. I think it will be on the market for quite a long time.

[Lookout Kid]

Check out the other Sudler Sotheby's listings for the Chicago area. This Evanston place is a steal compared to the tacky monstrosity in Burr Ridge!

Chicago Real Estate - Premier property listings to buy and sell - Luxury Condos and Single Family Homes - Property Search

[chet everett]

Originally Posted by Lookout Kid

Check out the other Sudler Sotheby's listings for the Chicago area. This Evanston place is a steal compared to the tacky monstrosity in Burr Ridge!

Chicago Real Estate - Premier property listings to buy and sell - Luxury Condos and Single Family Homes - Property Search

doesn't a home basketball court with a floor decorated with the Chicago Bulls logo just scream "tasteful and timeless" ??? ANd given it is in the attic I imagine that the spoiled kids will really get on their stressed out parents nerves in record time up there... Don't all the actual Bulls players live closer to the practive facility up in Deerfield?

I love the basement kitchen with all the charm of the breakroom at costco too. Who builds these kinds of things? And why? I mean I could see how a basement bowling alley would come in handy if you ever want to invite a business associate over for a a viewing of "There Will Be Blood" before a tense negiotiation or something but what good is an indoor pool that has more flat panel TVs than a sports bar???

[Chicagoland60426]

Originally Posted by ajolotl

I personally prefer Evanston to the other North Shore communities. When places are uniformly wealthy they lose a lot of their energy and spontaneity. I strongly prefer the vibe of a place with a mixture of people -- students, some rich people, some struggling artists, people from different countries, some blue collar people. Evanston has much more of that. Anyhow Evanston has more and better commercial areas than any of the other North Shore communities. I like to get out of my house.

Agreed. If I could live on the North Shore, Evanston would probably be my first choice.

[Bongu]

If I wanted Evanston, I'd personally prefer a $2MM home there, a $4MM home in Hawaii (much better Ocean view than Evanston) and spend the extra $3MM on a private jet trips back and forth...

But that is just me.