Frank Lloyd Wright House in Chicago for Sale for $350,000. Or Is It?

A Frank Lloyd Wright home is reportedly in dire need of restoration, with Federal National Mortgage Associates (best known as Fannie Mae) reportedly putting the property on the market as part of a court-ordered sale following a December foreclosure, where it reportedly sold for $350,000.

It is reported chicago sun times”, “The development may represent the best opportunity in more than a generation to revitalize the landmark two-story stucco home at 42 N. Central Ave., assuming the asking price, at least $2 million in restoration costs and a recent appraisal of the house at $65,000, don’t turn away potential buyers. ”

But a notice posted on Facebook by the Frank Lloyd Wright Building Conservancy said the home is not yet for sale. “Wright Market Update: The Walser House is currently not for sale!” the notice reads. “Widely circulated Zillow listings are not genuine.”

On January 15, Zillow listed the Walser House “For Sale By Owner” for $350,000. After being alerted about the listing and starting to advertise it, we attempted to contact the ‘seller’ but suspicions arose. “

The Conservancy’s notice continued: “This false listing may have been designed to deceive well-intentioned potential buyers and highlighted serious vulnerabilities in this important home. We immediately removed the listing from the Wright on the Market page upon learning of the incident and are working to prevent the spread of the false listing.”

The 123-year-old Walser House in the Austin neighborhood on Chicago’s West Side— sun times Described as a “residence that inspired the architect’s more famous works but has been in a state of disarray for the past two decades”, the home is currently uninhabitable. If you put it on the market, pay special attention to the home’s landmark status and designation on the National Register of Historic Places. “This landmark designation retains [orginal] The design intent, the materials and the particularity of the interior,” said Barbara Gordon, executive director of the Frank Lloyd Wright Building Conservancy. “This is something any potential buyer must understand.

At the end of the Facebook post, the Conservancy issued a plea: “We urge Fannie Mae to negotiate with interested parties with the vision and resources to restore the Walser House and return it to productive use.”