The childhood home of the first American pope will be sold to the highest bidder in an online auction in June, a new marketing strategy for a three-bedroom house that was originally listed for $199,000.
The current owner of the humble house in Dolton, Ill., switched gears last week when he realized he had hit a real estate jackpot. As Pope Leo XIV was introduced to the world, the owner learned that the new pontiff, who grew up as Robert Francis Prevost, spent at least some of his childhood in the brick Cape Cod-style house on 141st Place, about 30 minutes south of downtown Chicago.
Offers began pouring in almost immediately, said Steve Budzik, the real estate broker for the property. He had fielded only a handful of offers in recent months. Mr. Budzik and the owner, Paweł Radzik, 36, quickly pulled the house off the market as the two figured out what to do next.
Mr. Budzik said it felt impossible to set a price for the home now that they knew its unique history. So they turned to Paramount Realty, a real estate auction firm that had held an auction in 2017 for another unassuming house: a five-bedroom Tudor in Queens where Donald Trump lived until age 4. It sold for $2.14 million, more than double the average of comparable houses in the area.
Paramount has begun collecting bids for the property in Dolton on behalf of Mr. Radzik, who purchased the home a year ago with a plan to renovate and flip it. The online auction will be held on June 18.
“It’s no longer a traditional sale. You’re not selling real estate, you’re selling much more than that,” Mr. Budzik said. Offering the property at auction, he said, would allow prospective buyers from around the world to make a bid on a piece of papal history, including nontraditional buyers who might seek to turn the home into a museum or a landmark.
“This is the best chance for selling it for top dollar and also getting the most amount of exposure,” he said.
Misha Haghani, the chief executive and founder of Paramount, said a famous former resident can bring in big bucks. The auction of Mr. Trump’s childhood home was held just days before his first inauguration. Though the house later fell into disrepair and sold earlier this year for just $835,000, it still made history at the 2017 auction. Mr. Haghani referred to the $2.14 million sale as the “Trump bump.”
Property records show that Mr. Radzik, a professional home rehabber, bought the house in Dolton for $66,000. The interest in its history is sure to drive up the price, Mr. Haghani said, anticipating that the house could sell for seven figures.
“We can call this the pope premium,” he said. “Within one week this is going to be the most famous home on the planet. What the highest and best bid will be, or who it will be from, is anyone’s guess.”
Nicholas Bogel-Burroughs and Stefanos Chen contributed reporting.
Debra Kamin reports on real estate, covering what it means to buy, sell and own a home in America today.
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