Shark bites: Garrison makes the sale in Obama's neighborhood

You don’t see a lot of Chicago home sales make national headlines, but all sorts of news outlets are carrying stories this morning about the sale of Bill and Jacky Grimshaw’s 6,000 square-foot house in Kenwood.

Honestly, the news has more to do with the property’s neighbor than the property itself — Barack and Michelle Obama own the home next door.

With the help of Realtor (and CondoShark.com founder) Matt Garrison, the Grimshaws sold the home this week for $1.4 million. In an interview with Bloomberg, Garrison said:

“The original strategy was to try to get a record-breaking price. We exposed the property worldwide, without a sales price, to see if buyers would step up and pay a big price…At the end of the day, the property traded to a local buyer for what we felt was a very fair price. The one million-plus price point in Chicago has been soft for the past three years, and this property needs a full gut renovation. We knew it would take a special buyer, and we found him.”

The new buyer will spend an additional $1 million renovating the home.

Last September Bill Grimshaw talked to Joe Zekas about living next door to the Obamas and his memories of Mayor Harold Washington. Watch all four videos from Joe’s trip to the Grimshaw’s home above and below.

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