Frank Lloyd Wright House Available at Bargain $1.38M

frank lloyd wright house
frank lloyd wright house

A choice Frank Lloyd Wright prairie-style home has been sitting on the market for a year, with its price cut in small increments down to the current $1.38 million asking price. Could this be a bargain for a Wright house?

The house in question is the William E. Martin house in Oak Park, Ill., the western suburb of Chicago where Wright lived and designed 25 buildings, and Realtor Laura Talaske of Gloor Realty thinks it's a steal. Then again, she owns it. "With the way the market is, we're trying to be realistic," she says.

According to the Frank Lloyd Wright Building Conservancy, 20 other Wright-designed homes are on the market right now around the country. Talaske sees hers as one of the more attainable ones, since it hasn't gone through a major renovation, bumping up the price. Yet the Wright design -- and cache -- is worth a premium.

"Living in a Wright house is like living in a work of art," she says. "So that does affect the price. It's not just bricks and mortar, it really is more than that."