Location, Location, Location

By Vicki Mabrey

Sep 15, 2009 9:25am

Fancy chatting over the backyard fence with a former president?  Are you okay with going through a checkpoint to get home?  If so, have I got a real estate opportunity for you. 

01 Location, Location, Location

The stately residence next door to the Obama's home in Chicago has gone on the market.  Wish I could tell you the price, but the brokers aren't setting one.  They're waiting to see what the market will bear.  Typical homes in the neighborhood sell for between $1.5 million and $2.5 million.  The Obamas purchased their Kenwood/Hyde Park home in 2005 for a reported $1.65 million. 

The house has quite a history.  It was built in 1906 by a man named A. R. Clark, who actually was the original owner of President Obama's home. During World War II, it housed officers who needed to stay in the area, then became the boarding house for a military school.  The current owners purchased the 6000 square foot home from the military school in 1973 — for $35,000. 

It is a stunner of a mansion — grand staircase, original stained glass, hardwood floors, formal mouldings, ornate fireplaces, graceful plaster detail.  The listing says it needs renovation, and the brokers helpfully note that the buyer can add 4000 square feet — but really, heating 10,000 square feet in a Chicago winter?  Brrrrr….

You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus