ChicagoLand ain’t a good place to invest in ultra-luxury properties. Per the article, only one area home has sold for more than $10 million all year. Hell, in southeast Florida, they’re probably selling several homes per week in that range. Nonetheless Chicago is hardly unique in terms of being a bad area to invest in ultra-luxury properties. There are perhaps only a dozen or so areas in the entire country where it’s *easy* to offload a $10 million home... Certain areas of Florida (Palm Beach, Jupiter, etc.), certain areas of L.A. county (Malibu, Bel Air etc), certain areas of Orange county (Newport Beach, Laguna Beach, etc), a couple Silicon Valley towns (Atherton, Los Altos Hills), Park City UT, Aspen CO, Ketchum ID. That’s really about it. There are certainly many expensive homes in places like the Hamptons and New Canaan CT, but it’s not necessarily easy to find a buyer quickly.
Is quickly somewhat more than 12 years?