Burling Street Mansion Sells for $8.3 Million
The Lincoln Park sale is the largest home sale in the City of Chicago so far in 2026.
Updated on Nov. 4, 2026 in Residential
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A mansion at 1853 North Burling Street in Lincoln Park sold for $8.3 million, according to the extraction. The price came in 12 percent below the original asking price after the home was listed for $9.5 million 18 months earlier.
Why it matters
The sale sets a 2026 high for Chicago home sales, but the price reduction shows the seller accepted a discount after a long time on the market. Three larger home sales in the Chicago area this year were all in the suburbs.
The sale closed 12 percent below the original $9.5 million asking price after 18 months on the market, and it surpasses the former city high of $8 million set by a One Chicago Tower condo. The extraction does not indicate the buyer's identity or the factors behind the timing of the sale.
The players
Mark Hoffmeister
Hoffmeister is the seller of the Burling Street mansion, which he listed for $9.5 million before selling it for $8.3 million.
The details
Hoffmeister listed the 2010-built home on the 5,808-square-foot lot, which has about seven bedrooms and 8,700 square feet of building space. The asking price dipped below $9 million in March before the property closed at $8.3 million.
Timeline
2010: The Burling Street property was built.
18 months before the sale: Hoffmeister listed the mansion for $9.5 million.
March 2026: The asking price dipped below $9 million.
June 2026: A Lake Bluff home was taken off the market for $11 million.
July 2026: A Glencoe mansion sold for $18 million.
Industry Dynamics
The $8.3 million sale surpasses the $8 million One Chicago Tower condo sale, the former city high, and it follows a $10 million Gold Coast condo purchase in 2025. Three higher-priced Chicago-area sales this year were all in suburbs such as Glencoe and Winnetka.
For Chicago buyers, the sale shows that a $9.5 million listing in Lincoln Park can close near $8.3 million after 18 months on the market. Shoppers in the city's upper price range may find more room to negotiate than the original asking prices suggest.
The takeaway
Price cuts can signal that a high-end Chicago home is ready to sell, so buyers in this range may have room to negotiate. Sellers should expect a discount after long listing periods, as this sale demonstrates.
Further reading
For more on the local housing market, explore Chicago Residential coverage.
Source note: This article includes information reported by The Real Deal New York.
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