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Luis Gutierrez's Former Home Sells Below 2001 Price

We spend a lot of time looking at homes that are for sale, but as anyone involved in Chicago real estate will tell you, there's a pretty serious gap between asking and selling price these days. Take, for example, this 5BD, 4.5BA single-family in Bucktown, which was owned by Rep. Luis Gutierrez from 1995 to 2001. (In a 2006 article, Sun-Times political reporter Lynn Sweet explained that, "Gutierrez moves with regularity almost every two years in order to cash in on the Near Northwest Side's rising real estate market.") The 2,239-square-foot home closed last week for $924,000, making it the priciest home to sell in the past week in Bucktown. However, that price is more than $300,000 less than it was originally listed for, and about $50,000 less than Gutierrez sold it for in 2001.
· Listing: 1934 W Wabansia Ave [Redfin]
· Investment group exec lists Bucktown 5BD [Blockshopper]