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Sale of the Week: That Yellow House in Old Town

Sale Price: $2.375 million
The Property: The bright yellow stucco of this Old Town house makes it look like the kids in the busy play lot across the street attacked the place with their crayons. Built in 1979, when Old Town was a neighborhood for urban pioneers, the house used to have a less showy façade; it was changed during…

List Price: $2.7 million
Sale Price: $2.375 million
The Property: The bright yellow stucco of this Old Town house makes it look like the kids in the busy play lot across the street attacked the place with their crayons. Built in 1979, when Old Town was a neighborhood for urban pioneers, the house used to have a less showy façade; it was changed during renovations sometime in the 1990s, says Louise Study, the Rubloff agent who represented its sellers in a deal that closed May 12th. 

The house sits on an extra-wide wide lot—35 feet, where the norm is 25—which accommodates broad main rooms (the living room and kitchen are both 30 feet wide), a three-car garage, and a large backyard. There are nine rooms, four of them bedrooms, and three-plus baths.

The sellers, Richard and Sonia McArdle, bought the house from its original owners in May 2004 for $2.7 million, according to information from the Cook County Recorder of Deeds. In April 2007, they paid $4.3 million for a house on Astor Street in the Gold Coast. The McArdles—he’s a former Goldman Sachs executive—did not respond to a request for comment about the May 12th sale. The buyers are not yet identified in public records of the sale.

Price Points: The McArdles originally listed this house, in mid-2008, at $2.95 million. Their ultimate selling price, $2.375 million, represents a 12 percent loss on their recorded purchase price for the house.

Listing Agent: Louise Study of Rubloff, 312-368-5324; lstudy@rubloff.com
 

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