Obama’s Neighbor’s House Now Has a For-Sale Price: $1,849,000
By: Diane Tuman, Zillow Content Manager | October 28, 2009
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.
- Stumble it!
- Categories: Celebrity Real Estate
Comments
8 Comments so far
Enjoy this post? Subscribe to the Zillow Blog feed or get updates via e-mail
Foreclosure repo homes on October 30, 2009 11:11 am
obama didn’t help his neighbor? Cmon president! Now he will sell his place!
Leksaker on November 1, 2009 1:56 am
I like these toys!
insurance-tips on November 2, 2009 5:49 am
Great investment! 40k to 1.8M. It’s amazing to me how much location matters. Just a little brownstone, but the lot rocks.
Tx Hill Country Realty on November 2, 2009 3:31 pm
Wouldn’t be great if our government’s investments produced a return like this.?.?
ser vecino de obama ya tiene precio: 1,25 millones — idealista news on November 2, 2009 11:58 pm
[...] 675.700 euros y 1,3 millones de euros, según zillow.com artículo visto en zillow.comObama’s Neighbor’s House Now Has a For-Sale Price: $1,849,000compartir esta noticia ¿de qué va esto? los gestores de información son páginas web que [...]
The Price of Being Obama’s Neighbor: $1,849,000 | Easy Loans for You on November 4, 2009 3:08 pm
[...] about a $1.8 million payoff. For the full article and pictures of the house, check out Zillow’s Blog. Categories : [...]
The Price of Being Obama’s Neighbor: $1,849,000 | Tips for Easy and Best Loans on November 5, 2009 2:52 am
[...] about a $1.8 million payoff. For the full article and pictures of the house, check out Zillow’s Blog. Categories : [...]
SJones on November 24, 2009 12:58 pm
Maybe if the house had been ’staged’ properly, they would have achieved a better sale price. 1970’s rattan and chrome-tube chairs in the diningroom?? Tsk tsk tsk, cheesy.