An empty lot that neighbors the Kenwood home of President Obama (pictured above) is generating considerable attention across the nation.
By Peter Ricci
A vacant lot for sale in Chicago’s Kenwood neighborhood would already be a instant draw, but this piece of real estate in one of the city’s most elite and desirable neighborhoods has one more thing going for it – it directly borders the property of President Barack Obama.
This “presidential” lot, if you will, is 50′ by 150′ and located at 5050 S. Greenwood Ave., and as the lot’s listing agent, Anthony Rouches of @properties, explained in an interview with Chicago Agent, it’s one of only two available lots in the entire Kenwood area.
Presidential Lot in Kenwood Drawing Considerable Attention
Even if the lot were not located next to the president, Rouches told us it would still be in high demand. Most of the housing stock in Kenwood is historical, and therefore protected from the tear downs that have produced the mansions and multifamily units in Bucktown, Lincoln Park and other Chicago neighborhoods. So, the two lots in Kenwood (Rouches is also the listing agent for the other lot) represent a rare opportunity for a custom home in one of Chicago’s most historic areas.
The lot, Rouches explains, has been empty for some time; the sellers purchased the land in 2008, but never moved forward with their plans to build an 8,000-square-foot property on the land.
The World’s Ultimate Gated Community
Of course, the fact that the lot is located next to President Obama’s residence has generated quite a bit of buzz, and not only in real estate publications like our own. Rouches said he’s been contacted by Crain’s, the Chicago Tribune, Chicago magazine, the Christian Science Monitor and the websites of the Fox and CBS Chicago affiliates about the lot.
The attention, Rouches continued, is interesting, considering he has yet to list the property on the MLS. He is planning advertisements in such publications as CS Magazine, but he does not plan on using the lot’s location as a marketing tool.
“I don’t want to exploit it,” he said, adding that anyone interested in the lot will likely research it online and discover its preeminent neighbor on his or her own.
But because of the lot’s stately location, anyone interested in the lot should expect some tight security. Secret Service and police details surround the area at all times, giving it the nickname “The World’s Ultimate Gated Community,” and anyone hoping for a showing will have to submit financials and provide the names of everyone who will view the lot 24 hours in advance.