Wright Chat

Did this house sell? If so, what was the price?



Last I heard it was going to auction.



Thank you.

The house is scheduled for auction later this month. The owner wants $1 million or he will keep it. He wants his price, and if he doesn' get it, oh well, he's going to keep it.



The house is in fabulous shape, and would work very well for a family of four or five.

One of Country's Only Frank Lloyd Wright Home Auctions Set for

November in Michigan



Thursday November 17, 4:45 pm ET



Site includes an acre of land which could appeal to developers





OAK BROOK, Ill.--(BUSINESS WIRE)--Nov. 17, 2005--The Frank Lloyd Wright-designed Schaberg House at 1155 Wrightwind Dr., Okemos, Mich., is set to be auctioned Wednesday, Nov. 30 by Inland Real Estate Auctions, Inc. In 1958 America's most famous architect built this unique home at the request of the current owner on a 5-plus acre site, which is surrounded by 150 acres of natural woodland. Don Schaberg and his family have occupied the home ever since.

Almost everything about this house is exactly as Wright designed it, making it an unusually ideal specimen of Wright's "Usonian" style. This is a rare find, as many of Wright's great homes have been modified over the years. With an acre of wooded land adjacent to the home and included in this sale, however, the surrounding property could see some new development next door.



This is only the third time in history that a Wright home has been sold at auction. The owner chose this method of sale after seeing Inland Real Estate Auctions' phenomenal success in selling a Wright landmark home in Chicago in a highly publicized auction this past March.



"Wright enthusiasts have turned out in vast numbers to consider bidding on these two Wright homes we've auctioned," said Frank Diliberto, president and CEO of Inland Real Estate Auctions, Inc. "They are finding that the auction process is a tremendous way to establish quickly the true value of Wright homes, which because of their uniqueness have long been extremely hard to value. This has strong and increasing appeal to Wright homeowners, who often have to market their homes for years on the conventional market in order to identify the value that the auction establishes in just one day."



"The acre of wooded land adjacent to the property could allow a buyer the option of new development," said John DeMato, senior commercial broker for Inland Real Estate Auctions, who is handling the sale. "The auction is consequently attracting interest from investors and homeowners alike."



The bidding will open at $595,000. Bidders are required to attend bidders' seminars and inspect the property. The seminar open house is on Saturday, November 19 from 1 to 4 p.m. A cashier's check in the amount of $75,000 is required to bid."



This five-bedroom, four-bath, 3,800-square-foot home has had little modification from Wright's original plans, outside of an addition designed by Wright's own apprentice, John Howe, in 1964. Its pristine original condition would help the new owners should they purse the option of seeking landmark or National Register of Historic Places status, which offer significant tax advantages.



In the latter part of his career, after he had become world-famous for inventing the Prairie School of architecture and designing such landmarks as the Imperial Hotel in Japan, Wright turned his attention to simpler homes and social theory. Motivated by the idea that families on modest budgets need not sacrifice architectural quality for economy, Wright created the Usonian home. An abbreviation of "United States of America," the word "Usonian" became Wright's way of describing one-story homes that were simple but nonetheless striking from the outside, and deceptively luxurious on the interior - like mansions hidden inside one-story homes. The Schaberg's home is a brilliant example of the style.



"Most people would think of the auction as a method of first resort to sell a Picasso original," Diliberto said. "Now owners of Frank Lloyd Wright originals are beginning to see the auction as having the same benefits for their purposes."



Inland Real Estate Auctions, Inc. ( www.inlandreauctions.com ) is part of The Inland Real Estate Group of Companies, Inc., which comprises independent real estate investment and financial companies doing business nationwide. With more 35 years of experience focusing on auctions, commercial real estate brokerage, investment, property management, land development, acquisition and mortgage lending, Inland is one of the nation's largest privately-held real estate companies. Inland's national headquarters is in Oak Brook, Ill.







Contact:

The Inland Real Estate Group of Companies

Darryl Cater, 630-218-8000 Ext. 4896

[email protected]



--------------------------------------------------------------------------------

Source: Inland Real Estate Auctions, Inc.

Surely the development of the adjacent acre will "enhance" the Wright property (as if the landsharks care). The person who bought the Bach House in a prime part of Chicago is keeping a similar lot vacant NOT to deter from the integrity of the house further. It must be worth more than an acre in Okemos.



Anyone know if there are any restrictive covenants, or if this house is in a community where it's future is secure after a million+ sale for the property? And how selective might they be, since they have wanted a considerable amount for it a long time.



That said, I wish Schaberg luck getting whatever the market gives him, as is his right, but am puzzled what even a million dollars will get him in comparison. At least he will finally find out what it is "worth" in the real world.

Did this house sell and at what price???

Anonymous wrote:Did this house sell and at what price???

Based upon an internet search, it appears that the house did not sell. This is just conjecture based upon the lack of information about a sale. One could always call Inland Real Estate in Oak Brook, Illinois.