logo
Pope Leo's childhood home in Chicago sells for nearly double the asking price

Pope Leo's childhood home in Chicago sells for nearly double the asking price

Independent11-07-2025
Pope Leo XIV 's childhood home in Chicago has just sold – and for well over the initial asking price.
Long before taking up residence in the Apostolic Palace this May, the pontiff – then known as Robert Prevost – grew up in a modest two-story, three-bedroom home in the south Chicago suburb of Dolton, Illinois.
This week, the house on E. 142nd Place was sold to the village of Dolton at about 70 percent above the initial asking price, Steve Budzik, the agent representing the seller, told Bloomberg.
The sale rounds off the home's journey since being placed on the market in January, months before Prevost, 69, emerged from the conclave as pope.
The house was originally listed earlier this year for $219,000 after a local property developer bought it for $66,000 to renovate.
After Leo stunned Americans and was elected pope on May 8, the seller pulled the home from the market and later announced a luxury auction, with a $250,000 opening bid.
The village of Dolton ended up purchasing the property for $375,000, Budzik said. The average house price in Dolton is about $179,000, according to Realtor.com.
The village hopes to work with the Archdiocese of Chicago to turn the house into a landmark and 'a meaningful and valuable asset to our community.'
'I'm happy for the village,' Budzik said. 'I think they were the best buyer for that property, and it's great for win for them.'
The village had previously considered using eminent domain to take ownership of Leo's former home before completing a deal to purchase the property this week.
The Dolton board voted unanimously on July 1 to take control of the property with members calling it a 'once-in-a-lifetime opportunity' to do the home 'justice.'
'We can either seize this moment and move it forward, or we can let that moment go to an investor,' Dolton Mayor Jason House said at the board meeting.
Photos from the village of Dolton's Facebook page last week show contractors doing work on the property's roof.
'The Pope's House continues to draw in people, bringing new energy and attention to our village,' the caption read.
Leo's grounded demeanor is often traced back to his modest upbringing in the suburbs of Chicago's South Side.
He spent his early years in Dalton living with his parents and his elder brothers, Louis and John, with his upbringing rooted in Catholic faith and Midwestern values.
The world's most famous White Sox fan attended local schools and was heavily involved in his parish from a young age. Some of those who went to St. Rita High School with the pontiff affectionately refer to him as 'Father Bob.'
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Allstate quarterly profit jumps on underwriting strength
Allstate quarterly profit jumps on underwriting strength

Reuters

timean hour ago

  • Reuters

Allstate quarterly profit jumps on underwriting strength

July 30 (Reuters) - Allstate (ALL.N), opens new tab reported a jump in second-quarter profit on Wednesday, driven by strong underwriting performance and increased investment returns. Property and casualty insurers benefited during the quarter as individuals and businesses continued spending on insurance policies amid macroeconomic uncertainty and concerns over severe weather-related catastrophes. Underwriting income in Allstate's property-liability segment jumped to $1.28 billion in the second quarter, up from a loss of $145 million in the year-ago period. The segment reported an underlying combined ratio of 79.5%, compared to 85.3% a year earlier. A ratio below 100% indicates the insurer earned more in premiums than it paid out in claims. Insurance bellwether Travelers (TRV.N), opens new tab beat Wall Street estimates earlier in the month, while Chubb also reported higher profits due to effective underwriting and strong portfolio management. Allstate's net investment income increased to $754 million from $712 million in the same period last year. The Northbrook, Illinois-based insurer reported adjusted net income of $1.59 billion, or $5.94 per share, for the quarter ended June 30, compared with $429 million, or $1.61 per share, a year earlier.

RRA Capital Closes Record $224.3 Million Fundraise
RRA Capital Closes Record $224.3 Million Fundraise

Reuters

time2 hours ago

  • Reuters

RRA Capital Closes Record $224.3 Million Fundraise

PHOENIX, AZ, July 30, 2025 (EZ Newswire) -- RRA Capital, opens new tab, a Pheonix-based private real estate debt investment manager, today announced the final close of RRA Real Estate Debt Fund III at $224.3 million — the largest fundraise in the firm's history. With the close complete, Fund III is approaching the midpoint of its five-year term, with approximately one year of investment activity remaining before entering the two-year harvesting phase. The fund continues RRA's strategy of originating short-term bridge loans for value-add and transitional commercial real estate assets across the U.S. 'This is an exciting milestone for our team and our investors,' said Marc Grayson, opens new tab, co-founder and president of RRA Capital. 'The success of Fund III reflects growing demand for flexible capital solutions in today's market and reinforces our position as a leading participant for middle-market bridge financing.' Fund III attracted commitments from a diverse group of institutional investors — including pension funds, insurance companies, and university endowments — and is expected to deploy over $800 million of capital over the course of its five-year term. 'The closing of Fund III demonstrates optimism that values have bottomed out,' said Boots Dunlap, opens new tab, CEO and co-founder of RRA Capital. 'It is expected to provide liquidity options for borrowers unable to qualify for DSCR-based refinances in today's higher-rate environment, as well as flexible acquisition financing for buyers targeting distressed sellers.' RRA Capital has originated over $2 billion in commercial real estate loans, opens new tab since inception, with a focus on multifamily, industrial, retail, hospitality, healthcare, and select office assets. The firm is headquartered in Phoenix and lends nationwide. About RRA Capital RRA Capital is a leading commercial real estate debt fund manager specializing in structured bridge financing for transitional properties nationwide. Since its founding in 2008, RRA has originated over $2 billion in loans, providing flexible capital solutions to value-add and opportunistic real estate investors. The firm focuses on complex, time-sensitive transactions and offers customized structures that support property repositioning, lease-up strategies, and recapitalizations. With a disciplined investment approach and a proven track record through market cycles, RRA is a trusted partner to borrowers and institutional investors seeking performance, transparency, and alignment. Learn more at opens new tab. Legal Disclaimer This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. Offers are made only to verified accredited investors pursuant to Rule 506(c) of Regulation D under the Securities Act of 1933 and are subject to final offering documentation. Media Contact Hallie Whitehwhite@ ### SOURCE: RRA Capital Copyright 2025 EZ Newswire See release on EZ Newswire

Zillow sued by Homes.com owner CoStar for 'massive' copyright violations
Zillow sued by Homes.com owner CoStar for 'massive' copyright violations

Reuters

time4 hours ago

  • Reuters

Zillow sued by Homes.com owner CoStar for 'massive' copyright violations

NEW YORK, July 30 (Reuters) - Zillow (ZG.O), opens new tab was sued on Wednesday by owner CoStar Group (CSGP.O), opens new tab, which accused the largest U.S. online real estate portal of publishing at least 46,979 copyrighted photos without permission. The complaint filed in Manhattan federal court seeks unspecified compensatory and punitive damages, which Arlington, Virginia-based CoStar estimated could exceed $1 billion. CoStar, whose real estate listing websites also include and accused Seattle-based Zillow of exploiting the photos, many of which contain watermarks, to boost its rental listings business. Zillow did not immediately respond to requests for comment. According to the complaint, Zillow uses CoStar's photos to induce property managers and landlords to "claim" properties that are not actively listed for rent, and then sells advertising packages and tools to generate revenue. CoStar said Zillow also distributes some photos under syndication agreements to rival portals and Redfin, owned respectively by News Corp (NWSA.O), opens new tab and Rocket Cos (RKT.N), opens new tab. Zillow's "free-riding" on the photos results in infringement "on a massive scale, however measured," CoStar said. CoStar said it provides limited licenses of its photos to real estate professionals and does not allow sublicensing. In 2019, CoStar obtained a $500 million judgment against the bankruptcy estate of real estate listing platform Xceligent over the publication of 38,489 copyrighted photos, court records show. Xceligent had filed to liquidate two years earlier. CoStar threatened to sue and Redfin if they do not remove its copyrighted photos. and Redfin declined to comment. CoStar did not immediately respond to a request for additional comment. In June, Compass (COMP.N), opens new tab, the largest U.S. residential real estate brokerage by sales volume, sued Zillow for allegedly trying to monopolize private home listings, violating federal antitrust law. Zillow has called Compass' claims unfounded. The case is CoStar Group Inc et al v Zillow Group Inc et al, U.S. District Court, Southern District of New York, No. 25-06248.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store