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Cooking up a deal: Real estate folks go to great lengths to show homes at their best, but here`s an outfit that beats `em all. The promoters of The Ponds of Hybernia, a new upscale Highland Park subdivision, recruited some of Chicago`s top chefs to grace the kitchens of home models today, demonstrating their artistry and-not incidentally- the gourmet kitchens at the subdivision`s grand opening.

Michael Foley of Printer`s Row and Le Perroquet; Peggy Ryan of Va Pensiero; and Don Yamauchi of Carlo`s will prepare their specialities for would-be home buyers from 11 a.m. to 3:30 p.m.

”These kitchens are so wonderful, so we`ve asked these master chefs to come out and talk about cooking in the home,” said Tim Gish of the Jack Levy Associates public relations firm.

Anyone tempted to buy a home because of the food that was cooked there had better come prepared to pay a hefty price, however. The maintenance-free, empty-nester houses run from $630,000 to $920,000. The moral of this story-or at least, the bottom line-may be that, in some cases, it really is cheaper to eat out.