Here’s some real estate that’s almost certainly bucked the sour market of the last few years.
NYT: The house at 5040 South Greenwood Avenue, next door to the Hyde Park residence of President Obama and his family, hit the market here over the weekend. And in a summer of real estate doldrums, it is causing quite a stir, not simply because it is a gracious, century-old, 17-room house with elaborate stained-glass windows and a charming carriage house in the backyard.
The Secret Service has the block under full-time surveillence, and they’ve cordoned the street off from non-residents.
The owners paid $35,000 in 1973, though now houses in the neighbourhood go for between $1-$2.5 million, so obviously they’re going to make a huge profit, even without Obama’s help. Obama bought his own house for $1.65 million back in 2005.
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