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For sale: Three of Wright's Glencoe, IL houses

Posted: Fri Dec 01, 2017 8:50 am
by DavidC

Posted: Fri Dec 01, 2017 9:01 am
by DavidC

Posted: Fri Dec 01, 2017 4:50 pm
by outside in
The Kier House is under contract

Posted: Sat Dec 02, 2017 11:41 am
by Roderick Grant
outside, what is the interior of the Booth Cottage like? The price seems high; is it being advertised as a tear-down?

Posted: Sat Dec 02, 2017 5:46 pm
by outside in
The booth cottage interior is spartan, as you might image. Low ceilings (7'-0") and uneventful interiors. The daughter inherited the property and has priced the house like it was located in LA. I'm afraid its going to sit for an extended period of time. Unfortunately it is located on property worth $800k without the house.

Posted: Sat Dec 02, 2017 7:57 pm
by SDR

Posted: Mon Dec 04, 2017 3:01 pm
by DavidC

Posted: Wed Jan 10, 2018 4:37 pm
by DavidC
(from an article that won't link):

www.chicagobusiness.com

January 10, 2018

"Another Frank Lloyd Wright sells at a discount
By DENNIS RODKIN

A Glencoe house that is one of a cluster of seven designed by Frank Lloyd Wright sold for less than its seller paid for it a dozen years earlier.

Built in 1914 as part of the Ravine Bluffs subdivision, the house on Meadow Road sold for $752,000 on Jan. 5. The seller bought the house in 2005 for $790,000.

Listing agent Elise Rinaldi of @properties said the lower price was "no different than any other house in my market, the North Shore." In recent months, Crain's has reported on several homes in Lake Forest, Kenilworth and other North Shore towns that have sold for below prices from 15 years ago and more.

Rinaldi said the seller had updated the home's kitchen and baths, but she said she did not know the total investment in the home beyond the 2005 purchase price. Seller Susan Cowen could not be reached for comment.

The three-bedroom house has a classic Prairie exterior, white stucco and bands of wood trim with a broad roof overhang. Inside is more wood banding in the main rooms, and, characteristic of Wright's designs, a large fireplace trimmed in slim horizontal Roman brick. A family room addition blends "seamlessly" with the original house, according to Rinaldi's listing. (See photos of the house below.)

The house sold swiftly. It came on the market in early September at $799,000, took a price cut to $779,000 in late October, and went under contract to the buyer in mid-November. It was on the market 74 days, or less than half the 150 days that homes have been taking to sell, on average, in Glencoe in 2017 through the end of November, according to data from the Chicago Association of Realtors.

"It was well-priced," Rinaldi said. Many sellers of Wright homes set their asking prices high, a prime factor in those homes' tendency to sit on the market a long time in recent years.

Called the William F. Kier House after its first owner, a physician, the house was built as part of a subdivision commissioned by Sherman Booth, an attorney who had worked with Wright. The group of buildings also included a large home for Booth and his wife, Elizabeth, who was a leader in making Illinois the first state east of the Mississippi River to grant women the right to vote.

The Booth house was also for sale, from June 2016 until going off the market unsold in December. Separately, another building in the group, a cottage where the Booths lived while their home was being built and that later was moved to a site a block away, came on the market in October, but it, too, went off the market in December without selling.
"


David

Posted: Wed Jan 10, 2018 7:20 pm
by SDR
So, the Kier house has sold. It will perhaps be interesting to see if the new owner reverses any of the changes and additions which have appeared over time.

I had not been aware that the Booth cottage had been moved from its original site -- not that it would matter much in the case of so basic a design ?

SDR

Posted: Thu Jan 11, 2018 1:22 pm
by Roderick Grant
$790,000 in 2005 dollars = $997,790 in today's dollars.

Posted: Thu Jan 11, 2018 1:27 pm
by outside in
ouch - if you look at it that way Roderick its pretty horrible. I was watching a show last night, evidently Chicago is lagging the rest of the country in recovering from the great recession. we're still below 2008 values, but increasing, slowly, every year.

I should report that contractor trucks showed up this AM - don't know what they're up to.

Posted: Thu Jan 11, 2018 1:31 pm
by SDR
Were there any easements conveyed with the sale, do you know ?

This morning I was told by a gent who visited friends in Chicago over the holidays that their North Shore tower condo, on the lake, two bedrooms, two baths and a deck, cost them $250,000 -- which would be a miracle in San Francisco today.

SDR

Posted: Thu Jan 11, 2018 1:34 pm
by outside in
ha! not in Glencoe. I've mentioned this previously, this house is difficult because it takes a "certain type" to buy a house and spend a great deal of money to tear down additions and make the house smaller. Additions tend to linger forever I'm afraid.

Posted: Tue Jan 16, 2018 4:22 pm
by DavidC

Posted: Mon Apr 16, 2018 5:54 pm
by DavidC