Nov 6, 2009

Housing Bulletin

Antonio Davis Sells in Burr Ridge

Antonio Davis's Burr Ridge home.
 

Yesterday, Antonio Davis, who spent two seasons with the Chicago Bulls, closed on the sale of his Burr Ridge home for $2.75 million. That’s $1 million less than the $3.75 million he had been asking for the 13-room house at the beginning of the year. It was the second house Davis had sold in the Chicago area in the past few months; in August, he sold another home, in Naperville, for $1.4 million—or 63 percent of his original $2.2-million asking price.

Antonio Davis's house in Naperville.

In its January 2009 issue, Chicago reported that the onetime power forward, whom the Bulls had traded to the New York Knicks in 2005, still had two houses to sell here in the Chicago area. Davis is now retired and living in Atlanta.

When he was with the Bulls, Davis and his wife, Kendra, had purchased the Naperville house in 2004 for $1.8 million. Seeking a quieter neighborhood, they moved in 2006 to the Burr Ridge house, for which they paid $3.125 million. Their asking price on the Burr Ridge house was down to $3.299 million by the time they had a sales contract on the place in late September of this year. The sale price was 88 percent of what they had originally paid for the house, and 73 percent of their January 2009 asking price. In their August sale in Naperville, the couple recouped 77 percent of what they had paid for that house in 2004.

Last year, Davis told me that he and his wife had expected to keep the Burr Ridge house for their retirement, but that the harsh Chicago winters had finally convinced them to move south. At the time, he said that he understood why the houses were slow in selling. “Both of them are great family houses,” he said, “but with the economy being the way it is, at this point we’re just being patient.”

Posted at 10:36 AM in Housing Bulletin | Permalink

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