When Frank Lloyd Wright's Charles R. Perry House hit the market back in the Spring of 2011, Curbed wondered what exactly demanded "TLC". The listing photos didn't point to any disasters, but they weren't all that comprehensive either. With news via Dennis Rodkin's Deal Estate column that the Perry House was sold at the end of February, comes the revelation that the kitchen and bathrooms need updating. Also, says listing agent Jamie Roth of @Properties, a systems upgrade seems in order— the furnace is old and there's no air conditioning. That being said, the eight-room residence on a third of an acre still fetched $500K (down from $699K).
Roth tells Rodkin of an accepted 20 to 40 percent premium on Wright homes over similarly sized vintage homes. Thanks to the Perry House's plum setting near a beach, wooded area, bike path and five other FLW homes that comprise his Ravine Bluffs Development, Roth considers it "a 40 percent location". Built in 1907 for Wright's attorney Sherman Booth, the fairly modest home has a slight eastern tilt from Wright's time in Japan, a brick fireplace as a main focal point, and patterned cork floors in at least one room. It's unclear how much could or should be invested in bringing the home up to snuff. Along with the other houses, Ravine Bluffs once included a Wright-designed train depot that the area's preservationists have been itching to rebuild for several years now. Not much movement on that at the moment.
·Setting it Wright in Glencoe [Chicago Mag]
·Wright's Perry House Hits the Market in Glencoe [Curbed Chicago]