$2.5m to live next door to Obamas
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The notion of living next door to a sitting US president is no longer priceless – it’s US$1.85 million (NZ$2.
That’s the price tag listed for 5040 S Greenwood Ave, a home that rose to national prominencewhen it was offered for sale, because it just happens to be next door to the Obamas’ Chicago home.5m). They put it up for sale in September for an unspecified sum because neither they nor their real estate agent, Matt Garrison, knew how to calculate “the Obama factor” of the 17-room brick house, which needs substantial renovation.
Bill and Jacky Grimshaw have owned the home since 1973.
Large homes that don’t need work can cost US$2.
After more than a month with no takers, the home will be listed on Tuesday morning on the local multiple listing service, which means a price had to be set.4 million in the Obamas’ neighbourhood of Kenwood.3 million to US$2.
“At the end of the day it’s probably going to sell to a traditional Chicago buyer,” Garrison said.
Garrison said the premium for a buyer being able to say they’re Obama’s neighbour amounts to a few hundred thousand dollars.”
Because the Secret Service protects the Obama home and anyone visiting the Grimshaws’ house needs security clearance, no traditional open houses will be conducted, Garrison said. .