Gold Coast Home Sells For $5.1M In Chicago's Affluent Neighborhood

A single-family property located at 21 East Cedar Street in Chicago's affluent Gold Coast neighborhood has been sold for $5.1 million. The nearly 8,000-square-foot home was on and off the market for two years before the sale was finalized.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $5,100,000
• Address: 21 East Cedar Street, Chicago
• Market: Chicago

The seller of the property was Steven M. Kaplan, while the buyer was represented by Carrie Mccormick from Properties Christie’s International Real Estate. Joanne Nemerovski from Compass acted as the seller's representative in the deal. The sale price of $5.1 million reflects the trend in the Gold Coast neighborhood, where sellers are experiencing longer wait times to achieve sales prices above their original purchase costs.

Note: The Gold Coast neighborhood faced challenges during and after the pandemic, with buyers seeking more space in suburban and outer areas. This has resulted in extended periods for sellers to secure favorable sale prices.