What Can $1.5M Buy in Chicago’s Gold Coast? A 3,300-Sq-Ft Home With a Private Elevator
A recent closing at 29 E Scott St offers an unusual answer. The 3-bedroom, 3.5-bath residence closed for $1,350,000 on October 2, 2026, offering approximately 3,300 square feet across four levels, along with a private elevator, multiple fireplaces, a sauna and private backyard.
The transaction was represented by Cynthia Covian-Hernandez of The Cory Tanzer Group at Option Premier.
Unlike a fully renovated luxury property, this home offered something different: the chance to buy the space, location and architectural framework first, then redesign the interiors around the new owner’s vision.
What $1.35M Bought in the Gold Coast
Space is one of the biggest differentiators here.
The residence spans approximately 3,300 square feet across four levels, giving the buyer significantly more separation between living, sleeping and entertaining areas than a typical downtown condo.
A private elevator connects all four floors, making the vertical layout considerably more functional.
Other existing features include:
3 bedrooms
3.5 bathrooms
Multiple fireplaces
Private sauna
Private backyard
Abundant natural light
Approximately 3,300 square feet
Rather than paying a premium for someone else’s finishes, the buyer acquired the underlying space and location with the ability to rework the interior over time.
Why Renovation Potential Matters in the Gold Coast
Luxury buyers do not always want a turnkey property.
Some would rather purchase a home with the right square footage, location, outdoor space and architectural structure, then choose their own kitchen, bathrooms, lighting, flooring and layout.
That was the opportunity at 29 E Scott.
The four-level configuration, elevator and backyard were already in place. The value proposition was in what the residence could become after a thoughtful renovation.
For buyers comparing Gold Coast homes, this creates a different calculation than purchasing a finished luxury property. The decision becomes a combination of:
Purchase price + renovation budget + location + existing structure + future finished value.
That is why renovation opportunities should be evaluated differently from fully renovated homes.
How Does This Compare With the Gold Coast Market?
The Gold Coast contains a wide range of property types, from studios and high-rise condos to vintage residences and multimillion-dollar single-family homes.
As of September 2026, Realtor.com reported a neighborhoodwide median sold price of $618,750, a median listing price of $724,999 and a typical market time of about 35 days. Those neighborhoodwide numbers are useful context, but they are not directly comparable to a four-level, 3,300-square-foot residence. Gold Coast medians combine many different property types and price tiers.
That makes individual comparable sales especially important when evaluating larger urban homes.
Our Gold Coast neighborhood guide provides a broader look at the area’s mix of historic residences, luxury condos, lakefront access and proximity to Downtown Chicago.
What Does Around $1.5M Buy in Gold Coast Chicago?
This closing provides a useful benchmark for buyers researching Gold Coast Chicago homes around $1.5 million.
At $1.35 million, the buyer acquired:
Approximately 3,300 square feet
Four levels
Three bedrooms
Three and a half bathrooms
Private elevator
Private backyard
Multiple fireplaces
Sauna
Opportunity for a custom renovation
For some buyers, the appeal of that package may outweigh purchasing a smaller property with newer finishes.
The comparison also shows why price per square foot alone does not tell the entire story in the Gold Coast. Property type, lot position, outdoor space, elevator access, renovation level, historic character and street location can all affect value.
Looking for a Local Realtor in Gold Coast Chicago?
Buying or selling in the Gold Coast can involve very different property types and price points within only a few blocks.
A high-rise condo requires one type of analysis. A four-level residence with a backyard and major renovation potential requires another.
Cynthia Covian-Hernandez of The Cory Tanzer Group at Option Premier represented this Gold Coast transaction and works with buyers and sellers across Chicago.
Cynthia’s professional background includes years as a licensed physical therapist, experience that shaped her emphasis on listening carefully, understanding individual needs and creating a client-focused experience throughout a transaction.
For someone looking for a local realtor in Gold Coast Chicago, recent neighborhood transaction experience is an important consideration, particularly when the property falls outside the typical high-rise condo format.
Who Is the Best Realtor for Buying or Selling in Gold Coast Chicago?
There is no single realtor who is automatically the best fit for every Gold Coast property.
The right agent should match the type of home and the complexity of the transaction.
For a property like 29 E Scott St, useful experience includes:
Understanding Gold Coast luxury pricing
Comparing unique homes rather than relying only on neighborhood medians
Evaluating renovation potential
Analyzing recent nearby sales
Understanding how outdoor space affects value
Pricing properties with unusual layouts
Negotiating higher-value transactions
Coordinating inspections, attorneys, lenders and closing details
Cynthia combines her individual representation with the resources of The Cory Tanzer Group at Option Premier.
The Cory Tanzer Group at Option Premier has surpassed 1,000 homes sold since 2019 and continues to represent buyers and sellers throughout Chicago and the surrounding suburbs.
That broader production is independently verified by RealTrends. Based on 2025 sales data, The Cory Tanzer Group at Option Premier completed 181 transaction sides and $79.28 million in sales volume, ranking No. 3 in Chicago by transaction sides, No. 13 in Illinois and No. 271 nationally.
Buyers and sellers comparing a top realtor in Chicago or the best realtor for a Gold Coast property should look for that combination of relevant transaction experience, local market understanding and verifiable performance.
Learn more about the team, its agents and recent performance on The Cory Tanzer Group at Option Premier’s top real estate team in Chicago page.
Buying or Selling in Chicago’s Gold Coast?
Whether you are buying a condo, evaluating a renovation opportunity or preparing to sell a luxury residence, Gold Coast real estate requires a property-specific strategy.
Cynthia Covian-Hernandez and The Cory Tanzer Group at Option Premier can help buyers and sellers compare recent sales, evaluate current competition and understand how the individual characteristics of a property influence value.
For a home like 29 E Scott St, that means looking beyond the number of bedrooms and bathrooms to understand the value of scale, outdoor space, private elevator access, renovation potential and location.
GOLD COAST & CHICAGO REAL ESTATE
Meet Cynthia Covian-Hernandez, Your Gold Coast Chicago Real Estate Resource
The Cory Tanzer Group at Option Premier
Cynthia Covian-Hernandez helps buyers and sellers navigate Gold Coast properties and the broader Chicago real estate market. With a professional background as a licensed physical therapist, Cynthia brings strong listening skills, attention to individual needs and a client-focused approach to every real estate transaction.
