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Ravenswood's Abbott House Sells for $340K Below '06 Price

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They may be pretty, but the North Side's historic Queen Annes aren't commanding top prices these days. After sitting on the market for a year and a half, the 6,000-square-foot Ravenswood home built for Abbott Laboratories founder Wallace Abbott has finally sold. The seller acquired the the 17-room manse from Abbott Laboratories for $1.95 million in 2006, just six months after the Commission on Chicago Landmarks granted the 1891 home a Chicago Landmark Award for Preservation Excellence. In 2009, the home was listed for $2.25 million, and for the next year and a half, the price took a meandering course downward, until the sale closed earlier this week, for $1,606,000. According to listings, the home sits on five city lots, and it comes with a renovated 1,400-square-foot carriage house.
· Dr. Wallace C. Abbott House [Chicago Landmarks]
· Listing: 4605 N. Hermitage Ave. [Redfin]