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CHICAGO, Aug. 10 (UPI) -- A Chicago man is spending millions to restore a Frank Lloyd Wright home in Glencoe, Ill., that had been headed for a date with a wrecking ball.
Jack Reed, 69, bought the home for $1.5 million and is spending another $2.5 million to restore it to its original condition, The Chicago Tribune said Thursday.
The 4,300 square foot home on one acre appears tiny compared the "McMansions" that surround it in the wealthy North Shore community, the newspaper said. Developers were eying it as a teardown.
Reed is likely to lose money on the deal.
"It's obviously not something to make money on," he told the Tribune. "It's art preservation. It's about the beauty of the place and what that can do for some people."
The Wright house, built in 1906 for William A. Glasner, is considered one of Wright's significant early works, the newspaper said.
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