Obama’s Neighbor’s House Now Has a For-Sale Price: $1,849,000
The “Obama factor” didn’t pan out as planned, so the owners of 5040 S Greenwood Ave, Chicago IL 60615 yesterday were forced to officially set a price and put the home in the Multiple Listing Service (MLS). It is listed for sale for $1,849,000. This comes after the owners tried a unique route of selling it unpriced and using word-of-mouth marketing and great media exposure since the home is right next door to President Barack Obama’s Chicago home.
It’s not that the house didn’t get any attention. Inquiries came in from Singapore, Saudia Arabia, London, New York, and California and the 5040 Greenwood Web site generated over 100,000 page views, but only a few formal offers were made — all unacceptable.
The Grimshaws purchased the home in 1973 for $40,000. Homes comparable to the Grimshaw’s in the Kenwood neighborhood sell for about $1 million to $2 million.
Take a look at Barack Obama’s house.