The $6.5M Sale That Started With a Random Dinner Conversation
The $6.5M Sale That Started With a Random Dinner Conversation
Seven years ago, I started my own real estate team. My first teammate was David Diaz. Shortly after he joined, I took him out to dinner to talk about the industry and align on expectations for our future.
While we were sitting at Coda di Volpe in Chicago’s Southport Corridor, a gentleman seated next to us — who had arrived before his dinner date — leaned over and apologized for interrupting. He had overheard our conversation and asked what line of business we were in.
When I told him we worked in real estate, he offered to share some advice. I welcomed the conversation. We exchanged contact information, and I followed up shortly afterward to see if I could continue learning from him.
He invited me to his home.
That home was 1515 W. Wolfram.
I quickly realized the man I had met at dinner owned one of the most impressive properties I had ever seen — a home spanning more than 8,820 square feet on three city lots in Lakeview, Chicago.
At the time, I wasn’t pitching for business. We simply talked about real estate, finance, and the market. But before I left, I made sure he knew one thing: if he ever considered selling the home, I would be incredibly grateful for the opportunity to represent him.
Then I did something many agents struggle with.
I stayed in touch.
For the next seven years, I sent market updates, checked in periodically, dropped off gifts, and kept the relationship alive without pressure.
Eventually, the day came.
When the owner decided it was time to sell, he interviewed five agents. In the end, he chose me.
Preparing to Sell a Property Without True Comparables
Once I secured the listing, the real work began.
The property presented a unique challenge: there were no true comparables.
The home included:
8,820 square feet of interior space
Three Chicago city lots (75’ x 125’)
6 bedrooms
5 full bathrooms and 2 half baths
5-car garage with private rooftop deck
Geothermal heating and cooling
Private in-home movie theater
For context, the standard Chicago city lot is 25’ x 125’. This home occupied three.
The previous record sale in the 60657 zip code was $4,555,000, which closed in 2021.
Our pricing strategy would aim to surpass that record by nearly $2 million.
Without true comps, I analyzed similarly scaled homes across other luxury neighborhoods in Chicago. While they weren’t direct comparisons, they helped establish a framework for understanding how buyers might value a property of this scale.
Ultimately, pricing came down to recognizing the rarity of the asset, not simply applying traditional price-per-square-foot calculations.
Creating a Marketing Strategy for a Record Sale
Once pricing was set, we focused on preparation and exposure.
The first step was cleaning, decluttering, and preparing the home for market. We hired professional photographers and a cinematographer to produce high-end marketing assets. Because today’s buyers first experience a property online, the visuals needed to capture the home at its absolute best.
We photographed the property both during the day and at night to highlight how the home lived in different lighting conditions.
Next, we hosted a broker marketing event.
Rather than a traditional broker open, we created an experience. I personally invited the top 100 brokers in the area. The event featured live music, an open bar, passed hors d’oeuvres, and a team on-site to educate guests about the property’s unique features.
The feedback was immediate — and blunt.
Several agents told me they believed the property was overpriced by as much as $2 million.
I disagreed.
Many were evaluating the home strictly through traditional comps, rather than considering the rarity of a property with this scale, land size, and features in Lakeview.
However, one piece of feedback stood out: staging could elevate the presentation even further.
A Strategic Adjustment That Led to an Offer
We brought in two high-end staging companies. Each quoted roughly $15,000 for a three-month rental contract.
Instead of renting furniture, I recommended something different: purchase key pieces that could better match the scale and aesthetic of the home.
The owner agreed.
Working with his interior designer, he sourced furniture and implemented several updates based on our recommendations.
Once the staging was complete, we hired an editorial-style photographer to capture the refreshed space.
The result?
The very next showing produced an offer.
The Result: A New Record for 60657
The home ultimately closed for $6,500,000, setting a new record for the highest residential sale ever recorded in Chicago’s 60657 zip code.
Before closing, I asked the seller a simple question: Why did you hire me over the other agents?
His answers were instructive.
First, he liked me and trusted me. Real estate is still a relationship business.
Second, he felt I truly understood the value of the home’s rare features. Many agents relied too heavily on traditional comps and price-per-square-foot formulas.
Third, he valued that I would personally handle the listing. While I do have a team, he knew the property wouldn’t be delegated to someone else.
One agent had recommended listing the home at $4.6 million, while two others suggested $5 million.
Had he followed those recommendations, he might have left $1.5 to $2 million on the table.
The Lesson
This sale wasn’t the result of a single strategy.
It was the result of seven years of relationship building, thoughtful pricing, strategic marketing, and listening to the right feedback — while ignoring the wrong kind.
In real estate, the biggest opportunities often come from the relationships you start long before the listing agreement is signed.
And sometimes, those relationships begin with a simple conversation at dinner.
Chicago Association of Realtors Sales Award 2021 Top Producer
One of the best participation awards I’ve ever received! 2021 was a great year for real estate and was my best year as a Realtor. I’m honored that the Chicago Association of Realtors has recognized and acknowledged my hard work and my teams’ hard work. Most importantly, I’m grateful for my clients – for trusting me to help them navigate one of the most stressful decisions and processes they face. We’re excited to grow and continue to help people throughout Chicago…and now expanding into Southwest, MI (known as Harbor Country).
Please reach out with any real estate related questions – we love what we do and we’d be honored to help you in your real estate journey.
Justin Lucas | Broker
@properties
1875 N. Damen Ave.
Chicago, IL 60647
C: 312-989-0512
Our team is growing
I’m thrilled to announce that the Justin Lucas Group is expanding! World, please meet Eric Taylor - the rockstar / realtor.
Mr. Taylor studied music and continues to play and teach guitar and piano. He’s always enjoyed educating his students and looks forward to transitioning that mentorship approach to his clients looking to buy and sell real estate. “Teaching someone a new skill and watching them grow is one of the most exciting things to witness” says Eric. “Now I’m excited to help my clients learn everything they need to know in their buying and selling process.”
Originally from Libertyville, now living in the Ukrainian Village, he understands the differences between the many Chicago neighborhoods and surrounding suburbs.
Please join me in welcoming Eric to our team and be sure to reach out to us for all of your real estate needs.
David Diaz (left), Justin Lucas (middle), Eric Taylor (right)
Turning Back the Clock on This ’50s Apartment’s Floor Plan Let the Light Shine In - By Tim Latterner
https://www.domino.com/content/studio-cak-mies-van-der-rohe-apartment/
DominoMag recently featured our listing at 880 N. Lake Shore Dr. #14F. A remarkable transformation of a home in a Mies van der Rohe building. Click the link above to read the article.
Andersonville Smart Home For Sale
We've discussed how smart home technology can improve our lifestyle by creating a more efficient environment. Here's a video (just released today) from Justin Lucas Realty showcasing how easy it is to incorporate tech into our lives and create an automated / connected home.
Please watch until the end. I promise you've never seen an ending like this to help sell a home.
For more information or to schedule a private showing, please reach out to me directly.
From all of us at Justin Lucas Realty & @properties, thanks for watching!