A pie wedge-shaped, two-bedroom house in suburban Deerfield sold for $295,000, a gain of 13.5 percent from its price in August 2020.
The owner sold the property in May, after just nine months of ownership, due to the Village of Deerfield regulations on short-term rentals of less than 30 days, which was the purpose for the home, according to Chicago Tribune.
Locally known as “the pie house,” the 1,122-square-foot home sits on an oblong-shaped 0.09-acre-lot at the corner of Chestnut Street and Hazel Avenue in Deerfield.
The house has one bedroom upstairs and another in its finished basement, hardwood floors, a paver brick walkway and a storage shed. The house does not have a garage but a parking pad is available that can fit six cars.
While the house is embraced by the community for its unique shape, the construction in 2003 led to some local outrage. The village’s mayor and trustees faced complaints that the home is an “architectural pie-in-the-face,” the Tribune reported.
Chicago’s housing market is off to a robust start after closing last year on a high note. The median price of city homes rose 3.3 percent to $315,000 last month from December 2020, according to trade group Illinois Realtors.
Most agents expect the housing market frenzy to continue in 2022. Compass’ recent survey of agents shows more than half of the respondents believe pent-up demand will outweigh new supply, driving competition and price growth to favor sellers in 2022.
[Chicago Tribune] – Connie Kim