The new norm at Tower Crossing in The Glen…prices over $700,000

Home prices at the ultra-cool Tower Crossing townhome development in The Glen (in Glenview Illinois) are hitting post-recession highs. Built between 2003 and 2007 these 4 story brick, Georgian style homes offer between 3,031 and 4,105 square feet of luxury living. There are 6 basic models and 9 floor plans. In addition to their beauty and size a huge appeal to Tower Crossing townhomes is their proximity to Glen Town Center, The Glen’s popular and upscale retail and dining “main street”. In fact they border Glen Town Center on 3 sides making a walk to dinner nothing more than a short stroll.

Digging into pricing data recently I found exactly what I expected. A materially higher percentage of Tower Crossing homes are now selling for $700,000 or more than in recent years. In 2010 there were no $700,000 sales. In the next two years (2011/2012) approximately a fourth of sales were at this level; and this grew to about half of sales in 2013/2014. But in 2015 (through mid-November) 93% of sales (13 of 14) were at $700,000 or more! The prices of larger Tower Crossing models (such as the Blackstone, Omni, and Biltmore) have been selling well into the $700’s for a few years, but now even smaller homes (for instance Valencias and Drakes) have reached $700,000+ price points. Because these smaller (though still quite large) models are selling in the low $700,000, the prices of larger models are increasing into the high $700’s and even the $800’s. In fact we saw a sale at $800,000 or more in 2014 and another in 2015. I sold both of these magnificent homes, and incidentally…they were worth every penny. I believe I have another $800,000 sale waiting in the wings. Until last year we hadn’t seen an $800,000 sale since at least 2007. Of course what any home will sell for is influenced by its condition, by market factors (including competition) at the time of listing, and by choice of realtor.

For more information about Tower Crossing you can go to www.towercrossinghomes.com or contact me at 847-401-1802 or margaret.ludemann@cbexchange.com. I am a Tower Crossing homeowner and an award winning Realtor.

Margaret Ludemann, Coldwell Banker Real Estate

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