Dive Brief:
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A 1928 Prairie-style house near Chicago, designed by a contemporary of Frank Lloyd Wright’s, has sold to an architect for $10. But there’s a catch: The land it was built on wasn’t part of the sale.
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Buyer Chris Enck paid $100,000 to release the 1,700-square-foot home from its foundation and move it to another lot—which he paid $202,000 to buy. Building the new foundation will cost about $200,000, according to Crain’s Chicago Business.
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To round out the investment, the new owner plans to renovate the home’s kitchen and bathroom. So his total purchase rings up at around $500,000.
Dive Insight:
Some might say the deal was a steal, considering that the home’s designer, John Van Bergen, briefly worked for Wright and built several Prairie-style homes in Illinois. Enck was an admirer of Van Bergen’s, and, as a child, attended a school designed by the architect.
Enck told Crain’s Chicago Business that he believed the home would have been demolished if he hadn’t bought it. He intends to sell it once interior renovations are complete.