Bucktown Home Sells After 7 Years, Named 'Sale of Week'

It took seven years, but a 12-room contemporary Bucktown house finally sold last week.

The $1.9 million listing price was the result of the home's agent convincing investors that the price had to be less than $2 million to get any bites, according to a Chicago Magazine report. It sold for $1.6 million and is listed as the site's "sale of the week."

Chicago Magazine reports:

Built in 2006 by investors, whose names are not clear in the land records, the house was first listed for sale April 6, 2006 (for) approximately $2.8 million ... Six years later, it had only come down to $2.3 million, a drop of about 18 percent in a sub-market that was down 29 percent.

“They had never really adjusted when prices went into that deep, dark tunnel,” says Maria Vecchione, the @Properties agent who took over the listing in May 2012 and cut the price another 17 percent to $1.899 million.

For more information about the home and changes in the real estate market, check out the full Chicago Magazine story.