"Home Alone" Home Sells at Sizable Discount
Winnetka is home to many blue ribbon properties. From incredible lakefront mansions to turn of the century Victorian masterpieces to newly constructed “McMansions”.
However, there is no Winnetka home that is more frequently visited by tourists or photographed in the media than 671 Lincoln....commonly known as the “Home Alone” home. 
Yes, this is the house where the 1990 classic staring Macaulay Caulkin, Joe Pesci and Daniel Stern and directed by the late John Hughes was filmed. Although born in Lansing Michigan, Hughes' family moved to Northbrook when he was twelve or thirteen and never looked back.
Hughes filmed a series of hit films on location at North Shore venues, but none have held the endearing and deep memories that are associated with “Home Alone” and the house where it was filmed.
Because of its prime location, a block or two from the center of town as well as its proximity to the Winnetka Community House, the commuter train station, Lake Michigan and being surrounded by other lovely, large well maintained homes, it would appear to be among the most desirable properties in town. We have many other “Home Alone” locations in Winnetka including the ice rink (Hubbard Woods Park) and the grocery store (Grand Foods), but the house is the site that tourists want to visit. I drive past the house daily and on many days, I see a minivan with Minnesota plates or an SUV from Georgia double parked on the street with families with small children or a small group of “thirtysomethings”, jumping out of their vehicle and taking pictures. I suspect that some bold visitors have knocked on the door and asked for tours.
So lies the fly in the ointment.
Over the years, I have received calls or internet inquiries from several interested parties asking if that house was for sale, how much it might be worth and/or was it available for visiting.
Last year at approximately this time, I began to notice some hustle and bustle around the house. Painters and other contractors were busily doing there thing and it became apparent that something was happening. I received a few calls from media sources around the country inquiring about the house being for sale, which gave me some indication that the PR machine was beginning to spin, but at this point there was no local information available.
As it turns out, there was an international PR blitz beginning to spin which was unlike anything that we have ever witnessed locally. Within days, the national (and international) media was discussing that the house was coming on the market. One would have to think that this would only increase the public notoriety of the property.
Interestingly, a similar PR parade occurred last week with the introduction of Michael Jordan’s Highland Park property to the market.
In early May, the "Home Alone" house officially came on the market. It had been pre-marketed outside of the MLS for a few weeks before. The asking price was $2,400,000. On the surface, it is a classic center entrance, brick Georgian built in 1921. It sits on a lot that is slightly larger than ½ acre and has a 3 car detached garage. As discussed earlier, it sits in a wonderful location and very desirable location. While the price may seem high, you must remember that this area of Winnetka commands very high prices. Whether this original asking price had some built-in padding due to “notoriety” is open to debate, but the house came on the market with a great deal of fanfare.
After a little more than a month, the price was reduced to $2,175,000, and two months after that, it was reduced to $1,950,000. Just before Thanksgiving, the property was withdrawn from the MLS.
I spoke to several buying clients regarding viewing the property. They loved the style and the location, but they wouldn’t even consider it because they didn’t want to deal with the public personna that this house holds. Perhaps the international publicity allowed for great exposure, but it may have heightened the concern of local buyers (who are the most likely target purchasers) regarding the “tourist” issue.
Yesterday, the property showed up in the MLS as “New”, “Contingent” and “Closed” for $1,585,000. While this is a lot of money in any market, it is at a ⅓ discount from the original asking price. In fact, because of the lot size and location, the value of the land itself for a new construction home, is probably in the area of $1.3 million (plus or minus $100,000).
I’m certain that there is a large portion of the international population that has their fingers crossed that demolition is not the planned use.
month or two. Sales were strongest in Wilmette, with 10 closed sales, but that was down from January's number of 18.
This Friday, March 9
