Frank Lloyd Wright's Iconic Walser House Lands in Fannie Mae's Hands, Hopes Rise for Preservation Efforts.
A 123-year-old Frank Lloyd Wright-designed home on Chicago's Far West Side has been acquired by the Federal National Mortgage Association, sparking new hopes for its preservation. The iconic Walser House, which was built in 1903 for printing executive Joseph Jacob Walser, is considered one of the most important Wright designs that never made it to stardom.
The house is a prime example of Wright's Prairie School style and features strong horizontal lines, deeply overhanging eaves, and a distinctive band of windows on its second floor. Its design has been cited as an influence in many of Wright's later works, including the Emil Bach House and K.C. DeRhodes House.
However, the house has been plagued by disrepair for years. It was foreclosed upon by Fannie Mae last December, following a court-ordered sale. But concerns have been raised about the legitimacy of the listing on Zillow, with many speculating that it was an attempt to defraud a potential buyer.
"It's not currently for sale and steps have been taken to request removal of an unauthorized online listing," Fannie Mae stated in a recent press release. The organization has committed to completing initial services and debris removal before preparing the property for listing.
The house is now under the care of the Frank Lloyd Wright Building Conservancy, which estimates that it will require a whopping $2 million worth of repairs to restore it to its original glory. A recent appraisal valued the property at just $65,000, highlighting the significant investment needed to bring this landmark home back to life.
The preservation community is cautiously optimistic about Fannie Mae's involvement in preserving the Walser House. "It's going to be an expensive house to restore, but I think it's one really worth restoring," said Ward Miller, Executive Director of Preservation Chicago.
Austin Coming Together, a local organization that had been working to buy the property, remains committed to purchasing the home and converting it into community use. "Until it's protected, until real development, real stabilization efforts and investment happens, the house is under threat," said Darnell Shields, Executive Director of Austin Coming Together.
The Walser House has been designated as an official Chicago landmark and is also listed on the National Register of Historic Places. Its preservation is seen as a critical moment in preserving Wright's legacy and protecting this unique piece of American architectural history.
A 123-year-old Frank Lloyd Wright-designed home on Chicago's Far West Side has been acquired by the Federal National Mortgage Association, sparking new hopes for its preservation. The iconic Walser House, which was built in 1903 for printing executive Joseph Jacob Walser, is considered one of the most important Wright designs that never made it to stardom.
The house is a prime example of Wright's Prairie School style and features strong horizontal lines, deeply overhanging eaves, and a distinctive band of windows on its second floor. Its design has been cited as an influence in many of Wright's later works, including the Emil Bach House and K.C. DeRhodes House.
However, the house has been plagued by disrepair for years. It was foreclosed upon by Fannie Mae last December, following a court-ordered sale. But concerns have been raised about the legitimacy of the listing on Zillow, with many speculating that it was an attempt to defraud a potential buyer.
"It's not currently for sale and steps have been taken to request removal of an unauthorized online listing," Fannie Mae stated in a recent press release. The organization has committed to completing initial services and debris removal before preparing the property for listing.
The house is now under the care of the Frank Lloyd Wright Building Conservancy, which estimates that it will require a whopping $2 million worth of repairs to restore it to its original glory. A recent appraisal valued the property at just $65,000, highlighting the significant investment needed to bring this landmark home back to life.
The preservation community is cautiously optimistic about Fannie Mae's involvement in preserving the Walser House. "It's going to be an expensive house to restore, but I think it's one really worth restoring," said Ward Miller, Executive Director of Preservation Chicago.
Austin Coming Together, a local organization that had been working to buy the property, remains committed to purchasing the home and converting it into community use. "Until it's protected, until real development, real stabilization efforts and investment happens, the house is under threat," said Darnell Shields, Executive Director of Austin Coming Together.
The Walser House has been designated as an official Chicago landmark and is also listed on the National Register of Historic Places. Its preservation is seen as a critical moment in preserving Wright's legacy and protecting this unique piece of American architectural history.
This is huge for preservation efforts... I mean, it's crazy how something that's been neglected for years can gain new life. The fact that Fannie Mae stepped in to help with the initial cleanup and debris removal shows they're serious about getting it right. 
Yeah, that's a lot of scratch. But if anyone knows how to bring these iconic homes back from the dead, it's the Frank Lloyd Wright Building Conservancy. They've been working tirelessly to restore properties like this one for years.
The Walser House has been a hidden gem in Chicago, waiting to be shared with the world. Let's hope it gets the love it deserves! 
. from bein' built by frank lloyd wright to bein' abandoned, then foreclosed upon, and now facin the possibility of bein lost again 
. it's crazy how somethin that was meant to be a masterpiece can become a victim of neglect and disrepair. but at the same time, i'm thinkin about what this means for our community, and how we can come together to preserve something so special 
. it's like... we gotta ask ourselves, what does preservation mean to us? is it just about savin' money or is it about preservatin the soul of a place? 
I mean, it might seem like just another case of foreclosed homes being sold to big organizations, but think about it - this iconic house needs serious TLC (and $2 million worth of repairs 
) and now it's gonna get some help. The Frank Lloyd Wright Building Conservancy is on the case, which is awesome. Plus, Preservation Chicago and Austin Coming Together are still pushing for ownership, so maybe we'll see this house get the community use it deserves 
It's not all sunshine and rainbows, though - the legitimacy of that Zillow listing was shady, and let's hope they do their due diligence on this one. Still, I'm cautiously optimistic about Fannie Mae's intentions. Maybe this will be a chance for them to prove themselves as responsible stewards of historic homes 
. Anyway, if anyone can get this old house back in shape, it’s Fannie Mae and the Conservancy 
.
frank lloyd wright is like, my ultimate architecture idol 
and it sounds like fannie mae is really serious about saving this incredible piece of history 
. i'm also loving the fact that preservation chicago and austin coming together are working together to make sure the house stays protected 
!
) shows how passionate people are about saving this gem. I'm rooting for Austin Coming Together to purchase the property and turn it into community use - can you imagine all the events and exhibitions they could host there? 
. What do you guys think about this development? 
Just heard about Frank Lloyd Wright's Walser House getting sold to Fannie Mae 
and I'm pretty sure they won't have that kinda cash lying around. Plus, there's already a legit concern over Fannie Mae's listing on Zillow 
it's like stepping back in time! i mean, frank lloyd wright designed it all by himself, no collaboration with others, just pure genius 
and now it's finally gonna get the love it deserves 
after being neglected for years
I mean, it's already been designated as a landmark and all, so let's just get the repairs done ASAP 
. This could be the start of something amazing! 
Let's hope Fannie Mae doesn't mess this up and the Walser House gets the TLC it deserves! 