Record-setting $5.3 million mansion sale in South Barrington
Oct. 1 was a historic day for South Barrington real estate, and for Baird & Warner’s Realtor Sammy Lubeck.
Representing the buyer, Lubeck brokered a $5.3 million purchase of a home on 1.38 acres at 5 Saucer Circle.
It was the highest sale price ever for a private residence in the village, Lubeck said.
The prior standard was $5 million for a five-bedroom, 4.5-bath house on 74 acres at 61 E. Palatine Road, he said.
Lubeck said he felt humbled by and proud of the Oct. 1 transaction.
“I would say this definitely is the biggest deal of my career and it feels great to be trusted by all of my clients,” Lubeck said. “I feel very honored to have this sale on the books and I just feel very proud of my team for how they’ve helped me along.”
The home was purchased by a multigenerational family that Lubeck said prefers to stay anonymous. It is a 16,298-square-foot modern limestone and brick mansion with six bedrooms, seven full and two half-bathrooms, and 17 rooms overall.
Features include a home theater, a sauna for eight people, a steam room that accommodates up to 16 people, room for a wine cellar, a guest bedroom suite with kitchenette, and an eight-car garage.
Custom built for its previous owners and completed just this year, the asking price was $5.7 million, Lubeck said.
“It really gives the buyers an opportunity to turn the house into what they want, even after getting this incredibly impressive estate that has so much to offer already,” Lubeck said.
A Buffalo Grove resident who grew up in Highland Park before working full-time in real estate, Lubeck taught mathematics at Golf Middle School in Morton Grove and at Meridian Middle School in Buffalo Grove.
He later served as a sports analyst for STATS Inc. (now Stats Perform) in Chicago, analyzing player and team performances to provide information for professional sports broadcasts.
These experiences gave him perspective in dealing with the various personalities he encounters working in real estate, and an ability to analyze market trends.
“I wish I had been working in real estate my entire professional career, because it was what I was meant to do. I’m incredibly passionate about it and I wake up every day happy about what I do. And I’m in charge of my own success,” Lubeck said.
Having closed transactions in more than 70 towns in the metropolitan area, Lubeck said he’s done deals on properties ranging from $75,000 to the $5.3 million South Barrington home.
He believes home sellers will continue to realize high sale prices, and with lower interest rates a new and larger pool of buyers will create stiff competition for those homes.
“I think that prices of single-family homes in the suburban area are going to continue to rise,” he said. “But I do see inventory rising and I do think there will be more available homes next year to help that strong pool of buyers.”