‘Pocket Listing’ Homes Being Sold in Roscoe Village

A coveted piece of prime real estate just sold for $1.3 million a block east of Roscoe Street’s most bustling business sector, but most neighbors might have had no idea it was even for sale.

It’s called a “pocket listing,” Chicago Magazine explains, and it’s where selling agents show the unlisted home to their network of coworkers before ever putting it on the market. It’s now become a common practice where demand is high but inventory is very low.

Along with pre-testing the price set by the agent, the magazine says sellers can forgo tons of advertising and weekly showings.

@Properties put the word out about the Roscoe Village 4-bedroom, listing it at $1.5 million, and two days later the house was sold for almost 98 percent of asking price. And that’s before a most neighbors knew what was even happening. 

Want to see local house just sold in a pocket listing? Check out Chicago Magazine.