Want to buy the Chicago home of a former Indy 500 winner? You’ll need the big bucks

Big racing fan? Then you can buy the Chicago home of a two-time winner of the Indianapolis 500.


Crain’s Chicago Business recently ran a brief feature on the Lincoln Park home being sold by Bobby Rahal, who won the Indianapolis 500 in 1986 as a driver and again in 2004 as the owner of a racing team.


The home doesn’t come cheap. As Crain’s report, it’s being listed at just under $5 million.


And what do you get for that price? The home includes 7,000 square feet of living space, a pair of grand formal rooms, a curving staircase and another, less formal living area.


Rahal and his wife since buying the home in 2015 have renovated it extensively. So even though the property was built in 2007, the Rahals say that it feels brand new on the interior.


Now, most buyers today aren’t in the market for a home with a price tag nearing $5 million. But that doesn’t mean that there aren’t plenty of properties in popular Chicago neighborhoods for sale for far less. You don’t have to spend in the seven-figure range to find a modern, amenity-rich condo or single-family home even in neighborhoods such as Lincoln Square, Lincoln Park, Lakeview or Ravenswood.


What you should do, though, is work with a Chicago REALTOR® who is familiar with the neighborhoods in which you want to buy. Such a real estate professional can make sure that you aren’t overpaying for a Chicago condo or single-family home. REALTORS® can also help you negotiate with the sellers on everything from sales price to closing dates to the repairs you want done before you take ownership.


If you’re ready to look for a Chicago home – whether you want to spend $5 million or $200,000 – contact a REALTOR® today. The summer market is fast approaching, and you can be that new homes will soon hit the market.