Tech exec Jason Fried seeks record $7.3M in Bucktown

A Bucktown mansion hit the market at a listing price that would smash the record for most expensive sale in the area, even if it sells for far less than the initial ask. 

Jason Fried, CEO of Chicago-based software firm 37Signals, and his wife Caroline Linder are asking $7.25 million for their 8,000-square-foot house at 1736 North Wood Street in West Chicago, Crain’s reported. Compass broker Brad Lippitz is the listing agent.

The current record for the priciest sale in Bucktown was set in 2015 when tech executives Adam Caplan and Amisha Rigia bought a 7,600-square-foot house on Wolcott Avenue for $4.8 million. That amounts to roughly $631 per square foot, compared to $906 per square foot if the 1736 North Wood estate sells for its asking price.

Given the low inventory levels in Chicago, the mansion could get offers beyond its hefty asking price. But it also could sit on the market for a while, as many prospective buyers are waiting for interest rates to drop and market conditions to improve before house hunting. Many high-end Chicago homes seeking more than $5 million take months to sell, and sometimes require hefty chops to the initial listing price to find a buyer.

Bucktown, however, has drawn more affluent buyers in recent years, and the high water mark set by Caplan and Amisha has been approached a couple times. In October, a sleek, 7,600-square-foot Wolcott Avenue mansion that’s been featured in two Chicago-based TV shows sold for $4.4 million, among the neighborhood’s priciest deals ever.

Fried and Linder’s mansion was built in 2013 by famed architect Brad Lynch, who passed away in September. Fried was seeking an old warehouse to convert into a residence. After unsuccessfully finding the right property for the conversion, Fried was convinced to hire Lynch, according to Fried.

“He wasn’t really sold on the idea (at first) because he wanted his home to be old and have that sense of brick,” Lynch said in a previous interview with Architect magazine. “So I told him, when this is done, whatever he was dreaming about in this warehouse, I promised him he would have the same sense in the house.”

The 37Signals head paid $1.63 million for the parcel, but it’s unclear how much it cost to build. 

The house contains five bedrooms, four full bathrooms and two half baths. While the exterior  presents a facade of brick and perforated metal, the inside is light and airy. There’s a huge living room, gourmet kitchen and mudroom that leads to a five-car heated garage. Behind the house is a large, enclosed courtyard.

— Quinn Donoghue

Read more

Chicago

Bucktown home filmed for Chicago TV shows resets neighborhood bar

Chicago

Actors Tracy Letts, Carrie Coon sell Bucktown mansion for $3M

Chicago

Bucktown mansion in Chicago sells for record $3.73M