frank lloyd wright walser house foreclosure 2730213

Frank Lloyd Wright's Walser House, a rare Prairie-style home in Chicago's Austin neighborhood, is returning to market after being acquired by Fannie Mae through foreclosure. The house has been vacant and neglected since 2019, when its long-time owner died, and requires an estimated $2 million in restoration work. A foreclosure sale in December 2025 failed when preservation advocates were priced out by a minimum bid of $240,000, well above the property's appraised value of $65,000. Fannie Mae now holds the title and is preparing the property for listing, offering a potential path to new ownership.