The Chicago Reader's Whet Moser stumbled upon a gem while tooling around on Redfin today: a Landmark-protected 6,000 square-foot mansion in Douglas priced at just $599,000. (You don't need a calculator to see that it comes out to just $100 per square foot.) That price reflects a recent 30-percent price reduction, from the previous price of $850,000. Part of the reason it's so inexpensive is that the place need an estimated $1.2 million in renovations; it lacks a working kitchen and has just one working bathroom, according to a recent Deal Estate column. Without getting hung up on the price, Moser suggests that it might be the nicest house on the market. That's certainly open to debate, but it's hard to deny that the place is a beauty. For more of the back-story on this place, including a video and a great photo gallery, head over to Chicago magazine.
· The Nicest House in Chicago? [Chicago Reader]
· Prairie Avenue’s Unlikely Survivor [Deal Estate]
· Listing: 2801 South Prairie Avenue [Redfin]