Chicago Sun Times
2.4.2005
By Bill Cunniff,
Real Estate Reporter


Magazine features most expensive homes

The debut issue of Ultimate Homes magazine -- with 850 expensive residences for sale across the USA -- is hitting the newsstands.

The most expensive home on the list in the Chicago area is the 75th most expensive in the country. A Lake Bluff estate is listed at $25 million. The 21-acre property overlooking Lake Michigan has been the set for films: "Chain Reaction" (with Keanu Reeves), and "Kissing a Fool" (with David Schwimmer).

A 20,000-square-foot Astor Street mansion -- with 13 fireplaces -- in the Gold Coast neighborhood of Chicago is listed for $22 million.

A Georgian on a 61/2-acre site in Lake Forest is priced at $19.5 million.

An Art Deco residence in Glencoe, listed at $14 million, features a solarium and a theater. The buyer also will get a 3-bedroom coach house, a swimming pool and a 4-car garage.

A Lake Forest Georgian, priced at $11.95 million, has a dozen bedrooms, nine fireplaces, a pool and a 4-car garage.

The sellers want $11 million dollars for a three-story Chicago residence with 11 bedrooms, four fireplaces and a 4-car garage.

A 74-year-old Lake Forest mansion, priced at $9.9 million, has 25 rooms, including a greenhouse.

A Highland Park residence, priced at $7,950,000, has an indoor pool (with waterfall) and an 800-bottle wine cellar. The home is accompanied by 160 feet of private beach.

"With our debut issue of Ultimate Homes, we have created a true portrait of the luxury market at its highest levels by identifying and ranking the most expensive and spectacular properties on the market," said Rick Goodwin, publisher of Ultimate Homes and its parent publication, Unique Homes.

About 35,000 homes priced at least $1 million were sold in 2004, the publication said.

A 51/2-acre Hamptons compound in Montauk, N.Y., was once the vacation spot of Elizabeth Taylor, Jackie Kennedy Onassis and the Rolling Stones. This property is listed at $45 million.

A Brentwood, Calif., ranch, formerly owned by actor Robert Taylor, once hosted a presidential gala for Bill and Hillary Clinton. It's priced at $50 million.

What's the most expensive listing in the nation? A $75 million Bridgehampton, N.Y., estate -- with an 18-hole golf course, 14 gardens and a 75-foot swimming pool.

About three out of four of the owners of the expensive homes are under the age of 55.
Just 6 percent claim to have inherited 20 percent or more of their wealth. Half report annual incomes of $1 million or more. Less than half have a car priced above $50,000.

About 25 percent of the homes were bought as new. Nearly 20 percent were custom built according to the owner's specifications. Just 8 percent are historic properties.

To purchase a copy of Ultimate Homes, visit your nearest newsstand or bookstore. Or log onto www.uniquehomes.com for more information.