Seven recent sales and more evidence that the Gold Coast house market is back.
Earlier this summer, I wrote that the Gold Coast single-family market was starting to feel different. There was more activity, buyers seemed more engaged, and some really good houses were changing hands.
After another few months of sales, I feel even stronger about it.
Seven Gold Coast houses sold during the period I reviewed, ranging from $1.1 million to $3.5 million. I represented the sellers of 41 E Elm, which closed for $2.4 million in July after being listed at $2.499 million. There were also sales on Scott, Schiller, Astor and Bellevue.
For a market this small, that’s a decent amount of movement. More than anything, it backs up what I’ve been seeing firsthand. Buyers are looking at Gold Coast houses again, and when the right one comes along, they’re making decisions.
Where Buyers Are Buying
The 7 recent sales give us a pretty good look at where the market has been clearing.
Two homes at 29 E Scott sold for $1.1 million and $1.35 million. 43 E Elm sold for $1.9 million, followed by 41 E Elm at $2.4 million. 63 W Schiller closed at $2.6 million, 1401 N Astor at $3.1 million and 111 E Bellevue at $3.5 million.
Every one of those sales happened at $3.5 million or below. I don’t think that makes $3.5 million some sort of ceiling for the neighborhood, but it does tell us where buyers have been comfortable making decisions lately. There’s clearly a market for good Gold Coast houses in the $2 million and $3 million range.
I also don’t put much weight on broad averages here. Gold Coast houses are too different. Lot width matters. Condition matters. Parking and outdoor space matter. The block matters. A house on Astor can be a completely different proposition from one on Elm, even if they look similar on paper.
That’s why the individual sales are more interesting to me than an average price or price per square foot.
What I Saw at 41 E Elm
I had a front-row seat to part of the market this summer representing the sellers of 41 E Elm.
We listed the house at $2.499 million, were under contract in roughly 45 days and closed at $2.4 million in July. One thing that became pretty clear during the process was how much condition matters right now.
Buyers like the idea of an older Gold Coast house. That doesn’t necessarily mean they want an older Gold Coast project.
41 E Elm had already undergone a major renovation. It still had the character that made the house interesting in the first place, but a buyer wasn’t walking into years of work just to get it where they wanted it. I think that mattered.
There was also another sale literally next door. 43 E Elm closed for $1.9 million during the same period. They were different houses and I wouldn’t treat them as interchangeable comps, but having 2 transactions side by side on Elm Street tells you something about the amount of attention the neighborhood is getting.
The Next Part of the Market Gets Interesting
Current inventory looks quite a bit different from the recent sales.
There are houses available around $1.35 million and $2 million, but asking prices climb pretty quickly from there. 75 E Elm is just under $3.4 million, 32 E Bellevue is $3.49 million and 1437 N Dearborn is $3.75 million. From there, you have houses being offered throughout the $5 million, $6 million, $7 million and $8 million ranges, with 1355 N Astor asking $21 million.
I’m not going to look at the recent closings and say the more expensive houses are overpriced. Some of them are completely different properties and deserve to be evaluated that way.
What I do think is that the next few sales above $4 million are going to tell us a lot.
We already have pretty good evidence of buyers transacting through the mid-$3 millions. Now we get to see how far up the market that demand goes. There are some exceptional houses for sale, and I’m curious to see where buyers and sellers ultimately meet.
The Gold Coast Is Back
I don’t mean that every house is suddenly going to sell or that prices are going straight up. That’s never how this market works.
I mean buyers are paying attention again.
The appeal of owning a house in the Gold Coast is also pretty easy to understand. If you want a luxury condo in Chicago, there are plenty of choices. If you want a substantial single-family home a few blocks from the lake and Michigan Avenue, the list gets short very quickly.
Then add a wider lot, parking, outdoor space, good condition or a particular street, and it gets shorter again.
For a while, I think buyers were more willing to trade some of that for the ease of new construction. Lately, I’m seeing more people give the house another look. Some want the space. Some want the privacy. Some just prefer an old Chicago house on a great street to another high-rise.
And the recent sales suggest they’re not just looking.
I wrote earlier this year that the Gold Coast house market was coming back. After another 7 sales and going through the sale of 41 E Elm myself, I think we’re past that point.
The Gold Coast is back. Now I want to see how far the market can go.
If you own a Gold Coast house and want to know where I think it fits in today’s market, or you’re looking to buy and want to talk through what’s available, give me a call. I’m happy to tell you what I’m seeing.
Gold Coast Single-Family Home FAQ
How many Gold Coast single-family homes sold recently?
Seven homes sold during the period covered in this update, with closing prices ranging from $1.1 million to $3.5 million.
What did 41 E Elm sell for?
41 E Elm closed for $2.4 million in July 2026 after being listed for $2.499 million. I represented the sellers.
How much do Gold Coast houses cost?
There’s a very wide range. Current asking prices start around $1.35 million and extend to $21 million. The spread reflects how different these houses can be in size, condition, lot, architecture and location.
Where can I see Gold Coast homes currently for sale?
You can see current homes and learn more about the neighborhood on my Gold Coast page
