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Chicago

Planned Lincoln Park home in contract for $18M, Chicago’s second-priciest this year

Developer BGD&C Homes is planning a custom megamansion on the four-lot property

1909 N Orchard St (Zillow, iStock)
1909 N Orchard St (Zillow, iStock)

A planned mega-mansion in Lincoln Park is in contract for $18 million, in what would be Chicago’s second-priciest home this year.

The property, at 1909 N Orchard St. is under contract, according to real estate website Zillow. It’s a 100-foot-wide lot that’s technically four lots sold together. The buyer hasn’t yet been identified in Cook County Property Records.

It’s a custom design project by BGD&C homes, a Chicago high-end builder. The sale is somewhat of a formality given the home will be designed for the client.

Charles Grode with BGD&C said the home will probably be one of the more specialized designs the company has done, given the amount of space. He expects to complete the project before 2024.

“As it is on a quadruple lot there are not too many homes with the luxury of so much land to work with,” he said.

The company bought out all 11-unit condominiums in two buildings at the address in 2013, according to DNAInfo.

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“We paid a high price at the time for the triple lot,” Grode told DNAInfo in 2013. “We are basically just holding it until we find the right buyer.”

The planned megamansion is part of a broader trend in Lincoln Park, where developers have been purchasing land and older homes since the recession, tearing them down and combining lots for ultra-luxury homes.

Few sales in Chicago have exceeded $18 million.

When a Trump Tower penthouse sold for $20 million on March 7, the 14,260-square-foot full-floor, five-bedroom on the 89th-floor condo was the city’s second-priciest ever, after the 2017 purchase by Citadel Chief Executive Officer Ken Griffin of four condos for more than $58 million in the building at 9 West Walton Street on the Gold Coast in 2017.

A 7,500-square-foot full-floor penthouse unit on the 65th floor at One Bennett Park in Streeterville is the highest-priced condo on the market at just over $15 million. Only one single-family home is listed for more than $18 million, a Gold Coast mansion on Burton Place that listed for $18.75 million in October 2020.

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Housing MarketLuxury Housing