How’s this for a price cut? A 7,000 square-foot home at 4900 S Kimbark Ave dropped in price Tuesday from $2.4 million to $1.75 million. That’s 27 percent off in one day!

The 90-year-old home, now listed as a short sale, has the “perfect combination of classic vintage charm and totally up-to-date modern convenience,” thanks to “a recent comprehensive structural and mechanical renovation…coupled with a spectacular redesign of every aspect of the house and property,” according to the listing text from Robert Sullivan of Urban Search. It’s located in the heart of the landmarked Kenwood District, and just a block west of the Kenwood Community Park.

It has five bedrooms, 5.5 baths, hardwood floors, a finished basement, an exercise room, gas, central air conditioning, radiant heating, and a detached 2.5-car garage. Taxes in 2008 were $11,903 with a homeowner exemption.

The home sold in August 2003 for $1.12 million, according to Redfin.