I have several out-of-town buyers looking for homes in the North Shore - specifically Winnetka, Wilmette, and Glencoe. One couple was in town two weeks ago to get a first look at what's available. With the exception of one house that's been on for a long time, all the others quickly went under contract.
The magic price range? It's just about anything priced between $900,000 and $1,200,000. Remember, this is the North Shore, and that's not considered luxury housing. It's simply the best price point because it generally includes homes that are in good condition, newer or updated, and in neighborhoods with close proximity to schools and transportation.
The perfect million dollar home is practically move-in-ready. The lot is not very large but not postage stamp either and your neighbors will be pretty close to you. The house will have four bedrooms and either 2 or 3 baths and a half bath. A nicely finished basement is a plus and puts it in the higher end of the range. The kitchen will be newer with nice appliances but an island is probably not in the formula.
Most million dollar homes have a two-car garage, but occasionally it offers just one and that will be a nick on the price.
Age means nothing in the price range in this area. A home built in 1920 can have the feel of new construction if it's been well-cared for and updated. It will have the benefit of "charm" or "quirkiness" but the disadvantage of a basement with a low ceiling. But new or newer homes can be found in this range - but it might lack the detail you are looking for and be the most expensive home on the block.
Luckily, new homes are coming on every week in this price range and if my clients time it just right, we'll get the house. If you are a buyer, plan to be flexible or be prepared to enter into a multiple offer situation. The good ones - priced right and in excellent condition, are gone within a day or two.
To see homes in the North Shore suburbs of Winnetka, Glencoe, Kenilworth, Wilmette, and Northfield, click here: North Shore Homes $900,000 to $1,200,000.
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Filed under: Real Estate