Real estate professionals are expecting another busy spring in both River Forest and Oak Park, and two properties currently for sale – one in each village – reflect current offers in the market for homes above the price of $1,250,000.
In 2021, Oak Park and River Forest saw a marked increase in upscale home sales. River Forest saw a 62% increase in the number of sales of homes priced over $1 million in 2021 compared to 2020, and Oak Park saw a 76% increase in sales in this category.
Elizabeth August with @properties says she lists two homes that represent this high-end market. The houses have some similarities, she said, pointing out that they are similarly priced, sit on large lots and have more than four bedrooms.
The houses are, however, very different in style, with the Oak Park house representing more of a prairie style while the River Forest house is a classic center-entry colonial house.
The residence at 539 Linden Ave. in Oak Park is listed at $1,595,000. The six-bedroom home has three full and two half baths and over 5,000 square feet of living space. The house was built in 1909 for Anton Johnson, a furniture designer.
Owner Kathy Mahoney says the art glass in the house is believed to have been designed by Marion Mahoney (no relation) who worked in Frank Lloyd Wright’s studio. The seven south-facing art glass windows in the dining room would have been included in the design to represent the seven children of the Johnson family.
Throughout the house, other original architectural features remain, including a butler’s pantry with the original sink over a drying heater, art glass sconces, cabinets and built-in seats and several fireplaces. Mahoney says those details along with the unique floor-to-ceiling windows designed by architect William Gibbs were big draws when the house was featured on the Wright Plus and Oak Park River Forest Historical Society walks.
In addition to the old, the house has a lot of new. Mahoney is a kitchen and bathroom designer and remodeled the kitchen in 2016. She has also redesigned the bathrooms during her family’s 12 years in the home.
August points out that this price comes with many extras. A one-bedroom, one-bathroom shed above a three-car garage offers potential as a master bedroom suite or Airbnb.
The house sits on a 100-by-175-foot lot, August said: “So you get this beautiful, stately feel,” August said.
Further west, 7980 Chicago Ave. at River Forest is another upscale listing that August says has a “nice street presence” from its corner lot. The home was recently listed for $1,400,000.
The River Forest house was built in 1925 and has four bedrooms, with room for a fifth in the basement, as well as four full bathrooms and a powder room. It sports a brick exterior, slate roof, brick driveway and wrought iron fence.
Over the past 10 years, August says the owners have built a kitchen/family room addition, with the basement and all of the bathrooms also undergoing renovations.
“It’s a mix of today’s needs with that open kitchen and family room, but it still has that classic estate feel with the arched doorways and crown molding,” August said.
The new kitchen has professional appliances and a large central island. The adjacent family room has a wood burning fireplace with a limestone mantle. A cloakroom offers storage possibilities at the entrance to the three-car garage.
August thinks homes in River Forest and Oak Park are a big part of what high-end buyers want right now, noting the pandemic has caused a desire for more space indoors and outdoors. outside their homes.
With more people working from home, she says buyers want a flexible floor plan, which both homes have. The River Forest house has a basement perfect for a home office and gym while the Oak Park house has that separate shed.
Another reason why these real estate residences could evolve more quickly than in previous markets? The construction site environment. August says that during the pandemic, many people looked at their homes and decided to finally tackle home improvement projects, which created a busy season for contractors.
Lately, she says she’s seeing more and more buyers realizing that it might be easier to buy a bigger home than to expand their existing home. With supply chain issues for everything from kitchen appliances to bathroom vanities, and construction companies booked with existing jobs, she says renovation is taking longer and getting more expensive.
Sometimes it makes more sense to go up.
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