Chicago Real Estate Guide

Ravenswood Home Sets Record Sales Price at $2.3M

• October 17, 2011

by Erin Calandriello

Exterior of $2.3 million home in East Ravenswood

With all the rough news these days on housing prices, it is nice to have a glimmer of positive news.

Chicago Magazine reported today that a six-bedroom home in East Ravenswood, two blocks away from Mayor Rahm’s house, set a record sales price for the neighborhood of $2.3 million.

The 15-room customized brick mansion, that sits on a 38.5-by-165-foot lot (which was purchased for $775,000 in 2007), is the third home built by developer Christopher Olson. Although no interior photos of the dwelling have been released, the 6,600-square-foot house has six bedrooms, modern updates, four full and two partial baths, and a three-car garage.

Olson said that more expensive homes are coming on the market in the area. From Chicago Magazine:

“Custom homes [in East Ravenswood and nearby Graceland West] have been built [that] are larger and more expensive than ours,” he says, “but they haven’t been listed for sale yet.”

Perhaps most interesting about the transaction, in addition to its high price, is that the home was purchased before it was even complete.

This article originally published at http://chicago.urbanturf.com/articles/article/ravenswood_home_down_the_street_from_emanuel_sets_record_price/4367