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Madison Park, a affably chichi Seattle, Washington, neighborhood, is an haven that can accomplish association feel as admitting they are vacationing all year round.

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Its cachet dates to the aboriginal 1900s, back it was a accepted summer break for Seattle residents. The neighborhood, which still attracts a fair cardinal of melancholia summer residents, is authentic by its quiet, airy ambient as able-bodied as its park, beach, acceptable architectonics and apple of vintage-style shops that has delineated its capital artery for generations.

Madison Esplanade additionally is notable for advancement a suburban-urban vibe: The burghal skyline isn’t arresting through the trees, but acculturation is alone a abbreviate ride away.

More: ‘Fifty Shades’ Seattle Penthouse Lists for $11.5M

Boundaries

The east-central adjacency in Seattle is belted on the east by Basin Washington, on the south breadth Basin Washington Boulevard East and 39th Avenue East meet, on the west by Basin Washington Boulevard East and the on the arctic by Union Bay.

Amount Ambit

According to Jane Powers, admiral of Ewing & Clark Residential, prices for single-family homes alpha at $850,000, which could buy a 1920s cottage on a 4,000-square-foot lot. Such houses usually accept a baby basement but no views. The boilerplate price, $2.1 million, is for a three-bedroom, 3,800-square-foot lot, afresh afterwards a view. Buyers who appetite a hillside armpit to see the scenery, including Mount Rainier and the added Cascade Mountains and Basin Washington, accept to pay at atomic $2.5 million, which about includes a four-bedroom abode on a 6,000-square-foot lot, according to Ms. Powers.

“There’s not abundant beneath $1 million,” said Moira Holley, co-founder/senior all-around absolute acreage adviser for Realogics Sotheby’s International Realty.

She said the best big-ticket properties, which are priced at $10 actor to $20 million, are on the basin or in the Reed Estate, the neighborhood’s alone gated association on the waterfront.

“There are alone nine houses on the block in the Reed Estate, and it’s a actual continued block.

More: Adapted Abreast Perched Above Seattle

These are bequest backdrop with beyond lots of an acre or more,” Ms. Holley said. “They are all altered and mostly acceptable in style.”

Ms. Powers acclaimed that the accomplished recorded auction price—$20 million—was set on two altered properties. “The best contempo $20-million auction was in February of 2017,” she said. “That abode was broken down, so the acreage would be priced abundant added now afterwards achievement of architectonics of the new house. The acreage was on 180 anxiety of no-bank Basin Washington waterfront.”

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Prices for condos, which are in acutely bound supply, ambit from $650,000 to $2.5 million, Ms. Powers noted.

Built in 1954 and adapted in 2017, it is 6,040 aboveboard anxiety and overlooks Basin Washington and the Cascade Mountains. Robert Gassen VHT Studios

Housing Stock

Regardless of the amount range, best of the houses date from the 1920s and 1930s. The majority are copse frame, Ms. Powers said, with about 20% actuality fabricated of brick. Best of the homes are single-family; condos and apartments are rare. The 85-acre gated association of Broadmoor, which appearance a 115-acre golf course, contains 300 homes, and the ascendancy of the Reed Acreage has nine affluence homes.

“There’s a lot of acceptable architecture, alignment from Georgian brick to board Tudors, in the neighborhood,” Ms. Holley said.

Ms. Powers and Ms. Holley said that because there’s no developable acreage accessible in Madison Park, teardowns accept become abundant added frequent.

“Many of the old houses are actuality reimagined,” Ms. Holley said. “Generally, owners accumulate the acceptable advanced façade and accomplish the rear exoteric added contemporary, sometimes abacus added bottle to booty advantage of the view. If the abode is of a added bashful size, it’s acceptable to be broken bottomward in favor of a beyond brand that takes best advantage of the lot to accomplish a added comfortable stand.”

Listed for $2.25 million, this 4,900-square-foot abode on McGilvra Boulevard East in Madison Esplanade dates to 1940. It has three bedrooms and 3.25 bathrooms. The adapted wood-frame, traditional-style abode has a abreast attic plan. Robert Gassen VHT Studios

More: Click to appearance added affluence backdrop for auction in Madison Park, Seattle

What Makes It Unique

Originally a ancestors farmstead, Madison Esplanade retains a small-village feel aural accessible ability of the city.

“It’s appropriate on Basin Washington and three and a bisected afar from downtown,” Ms. Powers said. “The apple mom-and-pop shops are quaint. Starbucks is the alone civic chain.”

The association is in a admirable ambience that includes the Washington Esplanade Arboretum, whose 230 acreage affection a array of plants, some of which cannot be apparent anywhere abroad in the Pacific Northwest, and Madison Esplanade Beach, which is ill-fitted for pond and appearance lifeguards and a bathhouse.

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Ms. Powers acclaimed that Basin Washington Boulevard is a landscaped articulation to best of the parks and greenbelts aural the city’s limits. “It was advised by the Olmsted Brothers,” she said, abacus that their father, Frederick Law Olmsted, advised New York City’s Central Esplanade and that the plan was to abode a esplanade or a amphitheater aural a bisected mile of every abode in Seattle.

Fall foliage in the Japanese Garden amid in the Washington Esplanade Arboretum. Connie Coleman / Getty Images

Affluence Amenities

The Attic Alehouse, which started out as a bowling alleyway and cutting arcade in 1904 and has been a Madison Esplanade academy back the aboriginal 1950s, is accepted not alone for its aliment and alcohol but additionally for its game-day parties. Madison Esplanade Hardware, a family-owned adjacency mainstay back the 1940s, retains an old-time feel. The beanery Bing’s prides itself on recipes featuring bounded capacity and ability cocktails; and Bert’s Red Apple Bazaar has been bartering the association with advantage back 1937.

There additionally are newer hot spots: Nishino, accustomed in 1995, is accepted as the city’s finest sushi restaurant; Belle Epicurean, whose Seattle-native chef was accomplished at Le Cordon Bleu, specializes in Parisian pastries; Scoop Du Jour Ice Creamery is a sandwich and sweets spot; and Martha E. Harris florist and ability has been bartering bouquets for momentous contest for added than three decades.

“The café Madison Kitchen, which is about bristles years old, is top-drawer,” Ms. Holley said. “It has decidedly aloft the bar.”

Residents additionally are appreciative of Pioneer Hall, a building that’s added than a aeon old. A athenaeum of accompaniment history, it’s listed on the Civic Register of Historic Places.

More: R.E.M. Guitarist Peter Buck Lists Seattle Condo for $1.45M

The accessible schools, which accommodate Garfield Aerial and McGilvra Elementary, accept aerial ratings that draw families.

They are supplemented by a array of top-rated clandestine schools. The Bush School, which has 630 students, is the alone absolute kindergarten through 12th-grade academy in the city, and the Epiphany School, a non-parochial institution, serves pre-kindergarten through fifth-grade students.

The eight-acre Seattle Tennis Club, accustomed in 1890, has 19 tennis courts, a fettle center, annihilate courts, pickleball courts, dining and feast rooms, a pool, beachfront access, a boathouse and pro shop. Back its founding, it has hosted the anniversary Washington Accompaniment Open, the state’s best celebrated tennis tournament.

“It’s on the beach on the best prime allotment of absolute acreage in the neighborhood,” Ms. Holley said. “Aside from the apple shops, it’s the amusing centermost of the community, and it’s so accepted that there’s a seven- to nine-year cat-and-mouse account for membership.”

Who Lives There

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“There’s a absolute mix of bodies in the neighborhood,” Ms. Powers said. “They are of all ages and represent assorted professions. There are families, distinct people, advisers of Microsoft, Amazon and Starbucks and attorneys and doctors.”

Ms. Holley added that the association additionally is home to “most of the in-city, old-money families.”

Notable Association

Although Madison Esplanade is not a celebrity-centric community, Howard Schultz, administrator emeritus of Starbucks, lives there; every already in a while, he reportedly ancestor into the neighborhood’s sole Starbucks for a cup of coffee.

Actor Tom Skerritt, accepted for his roles in “Top Gun” and the long-running TV alternation “Picket Fences,” additionally calls Madison Esplanade home.

More: Oprah Buys $8 Actor Investment Acreage in Washington Accompaniment

Outlook

“The bazaar is accomplishing able-bodied now,” Ms. Powers said. “And because of Madison Park’s adjacency to the burghal and its park-like setting, I apprehend homes will abide to acknowledge in value.”

Ms. Holley agreed, abacus that Madison Esplanade backdrop accept “historically accomplished a 10%- to 20% exceptional compared with those of added commensurable in-city neighborhoods.”

She added that “the breadth has escalated in amount exponentially over the years.” Two decades ago, she said, a 1980s beach home arctic of the Seattle Tennis Club, on a “super-prime” 1.28-acre beach lot was tax adjourned at $2.593 million; it awash in June 2018 for “an unsolicited offer” of $12.5 million.

Another beach property, an adapted 1950s custom home aloof south of the tennis club, which is on 1.28 acres, was tax adjourned at $2.334 actor 20 years ago; it’s listed for $12.850  million.

“Madison Esplanade is one of the safest places to esplanade your money in absolute estate,” she said. “Markets will go up and bottomward and akin off, but back you’re talking about baddest absolute estate, this is it.”

And back so few bequest backdrop anytime appear on the market, she accepted new sales in that class in accurate to “rise rapidly from $15 actor to $25 million-plus.”

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