Monday, February 11, 2019

Crain's: Al Capone's two-flat, a recent foreclosure, for sale #6WardChicago

Pic via Chicago Historical Society
Al Capone - an infamous 1920s prohibition-era gangster - formerly had his home in the Park Manor area at 7244 S. Prairie Ave. is on sale again. We've seen this property on this blog before over the years. And Dennis Rodkin of Crain's writes:
The two-flat in Park Manor where Al Capone, his wife, his mother and his sister lived in the 1920s, which the most recent owner lost in foreclosure in 2018, is coming on the market Feb. 9.

The asking price is $109,900, said Ryan Smith, the Re/Max Properties agent representing the two-flat, which stands on the equivalent of 2.8 standard Chicago 25-by-125-foot lots in a neighborhood of mostly bungalows and two-flats. Smith declined to identify the seller, but Cook County property records show that MTGLQ Investors, a distressed-property subsidiary of Goldman Sachs, received the title to the property in a court-ordered sale in November.

The homeowner who lost the property in that judicial sale, the end result of a foreclosure action that a lender began in 2013, had the property on the market at various times between 2009 and 2016. Her price started at $450,000 and dropped to $179,900.

Alphonse Capone's wife, Mae, and mother, Teresa, signed the deed to purchase the brick two-flat at 7244 S. Prairie Ave. on Aug. 8, 1923, when the building was 18 years old. They paid $5,500.

At the time, Al Capone had recently come to Chicago from New York at the invitation of gang boss Johnny Torrio, from whom Capone would take over the reins in 1925.
When you click through to the article you will see in addition to a pic of the two-flat some pics of the interior as well. It looks like it can be such a great space for anyone who has the money to invest in it, in addition to be a great place to live.

JP Paulus first shared a story about this property being for sale over a decade ago in December 2008.

No comments:

Post a Comment

PLEASE READ FIRST!!!! Comment Moderating and Anonymous Comment Policy

While anonymous comments are not prohibited we do encourage you to help readers identify you so that other commenters may respond to you. Either read the moderating policy for how or leave an identifier (which could be a nickname for example) at the end of the comment.

Also note that this blog is NOT associated with any public or political officials including Alderman Roderick T. Sawyer!