In a blockbuster year for the upper-end housing market in Chicagoland, Crain’s Chicago Business reports there have been a record-setting 104 homes that have sold for $4 million or more in the first three quarters of 2022. Strong price appreciation over the past 2+ years has motivated sellers to list their homes. Meanwhile, luxury buyers have been undeterred by rising mortgage interest rates, often choosing to pay cash. Christie’s International Real Estate reported on this trend in its 2022 Luxury Trends Report, noting that high inflation and stock market volatility have also prompted affluent buyers to move money into hard assets like real estate.
While inventory remains historically low, luxury buyers from the city to the North Shore to the western suburbs still have plenty of options to take lavish living to the next level. Here is a sampling of what is currently available to upper-bracket buyers.