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Sale of the Week: Blending Old and New in Old Town

List Price: $2.975 million
Sale Price: $2.81 million
The Property: Although this 5,700-square-foot home was built in Chicago’s Old Town in 2005, its brick and limestone construction, its slender, arched windows, and its flat façade make it appear much older. But if the attached two-car garage doesn’t give away its true age, a look inside at the elevator…

List Price: $2.975 million
Sale Price: $2.81 million
The Property: Although this 5,700-square-foot home was built in Chicago’s Old Town in 2005, its brick and limestone construction, its slender, arched windows, and its flat façade make it appear much older. But if the attached two-car garage doesn’t give away its true age, a look inside at the elevator, the basement wine cellar, and the contemporary corner-mounted fireplace in the master bedroom surely would. (Those details are all included on the home’s listing sheet, a document that I can’t reproduce here.)

The house has four bedrooms, four-plus baths, and decks atop both the main roof and the garage roof. Thanks to its siting on a corner lot with a long southern exposure, the interior of the 12-room house gets lots of sunlight, even in the basement, where there is a bar-kitchen, a fireplace, and radiant heat beneath the floors.

The seller is David Wheadon, a doctor. In January he left his post as vice president of global pharmaceutical regulatory and medical sciences at Abbot Laboratories in North Chicago; he took a new job as senior vice president of scientific and regulatory affairs at the Pharmaceutical Research and Manufacturers of America, in Washington, D.C. In previous jobs, Wheadon, a psychiatrist, was involved with the development of Prozac at Eli Lilly and Paxil at Glaxo SmithKline. He could not be reached for comment.

Wheadon had a contract to sell the house on January 14th, the day after his new employer announced his hiring. The sale closed February 23rd. The buyers are not yet identified in public records of the sale.

Price Points: Wheadon bought the new house from a developer in September 2005 for $2.6 million. (Two years earlier, the developer had paid $650,000 for the site and then replaced an older structure with this house.) Wheadon’s 2008 listing sheet says that he made “many changes and improvements” since buying the house, though I could not determine what they were nor how much they cost.

Listing Agent: Not known 

 

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