Wednesday, March 09, 2005
The Emil Bach House is Sold at Auction
The Chicago Tribune reports that the Bach House sold in 8 minutes.
A Frank Lloyd Wright house in Chicago's Rogers Park community was sold at auction Tuesday in eight minutes, after failing to attract a buyer for more than a year.
Frank Diliberto, senior vice president of the Oak Brook-based Inland Real Estate Group, which handled the auction, refused to identify the buyer or the winning bid, but said it was several hundred thousand dollars above the opening bid of $750,000.
About 200 prospective home buyers had toured the 4-bedroom, 3 1/2 bath house at 7415 N. Sheridan Rd.The winning bidder is not a developer and plans to live in the house, Diliberto said. The new owner does not have plans to develop an adjacent yard, he added.
Possible development of the yard drew ire from Frank Lloyd Wright preservationists who argued any new structure on the property would alter the architect's design.
In February, Ald. Joe Moore (49th) proposed a city ordinance to rezone the property from multifamily housing to single-family homes."In this case the plan of the buyer seems to meet perfectly with the desires of the community, which is preservation," Diliberto said.
A Frank Lloyd Wright house in Chicago's Rogers Park community was sold at auction Tuesday in eight minutes, after failing to attract a buyer for more than a year.
Frank Diliberto, senior vice president of the Oak Brook-based Inland Real Estate Group, which handled the auction, refused to identify the buyer or the winning bid, but said it was several hundred thousand dollars above the opening bid of $750,000.
About 200 prospective home buyers had toured the 4-bedroom, 3 1/2 bath house at 7415 N. Sheridan Rd.The winning bidder is not a developer and plans to live in the house, Diliberto said. The new owner does not have plans to develop an adjacent yard, he added.
Possible development of the yard drew ire from Frank Lloyd Wright preservationists who argued any new structure on the property would alter the architect's design.
In February, Ald. Joe Moore (49th) proposed a city ordinance to rezone the property from multifamily housing to single-family homes."In this case the plan of the buyer seems to meet perfectly with the desires of the community, which is preservation," Diliberto said.
# posted by Unknown : 1:59 PM
