The recent elevation of Robert Francis Prevost to Pope Leo XIV has sent ripples through the real estate market in Chicago, particularly in the suburb of Dolton, where the pontiff spent his formative years. The childhood home of Pope Leo XIV, a modest yet charming 1200-square-foot brick residence, has become a focal point for potential buyers and investors alike. As the news of his papacy spreads, the property, which was already on the market, is expected to see a significant increase in its asking price.
A historical perspective on the property
Originally owned by the pope’s father, the home has a rich history that dates back to before Leo’s birth in 1955. The property remained in the family until 1996, when it was sold after Leo had taken a position in Peru. Since then, it has changed hands multiple times, with the most recent owner, Pawel Radzik, purchasing it for a mere $66,000. The home was listed earlier this year for under $250,000, a price that reflected the area’s median sale price of approximately $150,000, according to Zillow.
The surge in interest
As soon as the announcement of Pope Leo XIV’s appointment was made, real estate broker Steve Budzik began receiving offers above the asking price for the property. This unexpected interest prompted the sellers to remove the listing temporarily to evaluate their options. Budzik likened the situation to a “winning lottery ticket,” highlighting the unique circumstances surrounding the property’s newfound desirability.
Future prospects for the property
While the current owner, Radzik, has gutted the interior of the house, he is contemplating a remodel that would restore the home to its original layout. Despite the extensive renovations, the walls remain the only original feature of the house. As Radzik weighs his options, he is keen to let the excitement surrounding the pope’s appointment settle before making any definitive decisions regarding the sale.
The implications of Pope Leo XIV’s rise extend beyond just one property; they signify a broader trend in the Chicago real estate market. As the first American pope, his influence is likely to attract attention not only to his childhood home but also to the surrounding community, potentially driving up property values and stimulating interest in the area.
