Dec
23

An Update on Rod and his Chicago Real Estate

December 23, 2011

The rough Chicago real estate market is helping Rod Blagojevich stay out of jail one month longer.

After being sentenced to 14 years in prison on 17 counts of federal corruption, Blagojevich was ordered to report to prison on February 16.

blagojevich home

2934 W. Sunnyside Avenue, Chicago

But the impeached Illinois governor is broke and needs to sell his home, so the judge has granted him an extra month to get it done.

Obviously motivated, Rod, 55, and his real estate agent wife, Patti, have lowered the asking price on their Ravenswood Manor home.

They originally listed the 3,817-square-foot Chicago estate for $1.07 million back in October. With no bites, Blagojevich lowered the price of the 13-room home $72,000 to $998,000.

The Blagojeviches bought the five-bedroom, four-bathroom home in 1999 for $505,000. It is the same home where federal agents awoke Blagojevich in December of 2008 to arrest him on corruption charges.

No word on where the family will relocate, though Rod knows where he’s going to be: At the Englewood low-security prison in Littleton, Colorado, more than 1,000 miles away from Chicago. The ex-governor is now required to start the prison term on March 15.

Despite his desperation, the price drop isn’t all that fantastic. According to Zillow, the average home value in Ravenswood Manor is $245,300.

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Tracey

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