“The Frank Lloyd Wright-designed Walser House, a dilapidated 123-year-old home in Austin that inspired the architect’s better-known works has now been acquired by the Federal National Mortgage Association. Fannie Mae received title to the foreclosed property, at 42 N. Central Ave., in December following a court-ordered sale.

“‘It’s good news now that the building is out of the mess of the foreclosure process, and now we’ve got a clear path to possible ownership for somebody to take this on,’ Barbara Gordon, executive director of the Frank Lloyd Wright Building Conservancy, said.

“It is not currently for sale and steps have been taken to request removal of an unauthorized online listing. We are completing initial services and debris removal and will then begin preparing the property for listing,” Fannie Mae said in a statement.

“Still, the home being placed in Fannie Mae’s hands potentially represents the best shot in more than a generation to find a new owner who can restore the landmark two-story stucco home.

“‘The landmark designation preserves the [original] design intent, the materials, the special character of the interior,’ Gordon said. ‘That’s something any potential buyer is going to have to understand.’

“The Wright conservancy, preservation groups Landmarks Illinois and Preservation Chicago, along with the organization Austin Coming Together have been working in concert to save the home since 2020.

“‘It’s going to be an expensive house to restore, but I think it’s one really worth restoring,’ Preservation Chicago Executive Director Ward Miller said.

“Austin Coming Together Executive Director Darnell Shields said his organization had been working to buy the house from the bank that foreclosed on the property. Shields said he still planned to pursue purchasing the house and converting it to community use.

“Shields’s group raised $40 million to convert a closed Chicago Public School at 5500 W. Madison St. — right across the street from the Walser — into the new Aspire Center for Workforce Innovation.

“‘Until it’s protected, until real development, real stabilization efforts and investment happens, the house is under threat,’ Shields said. ‘And that’s a blemish and a black eye potentially waiting to happen. We’re trying our best to keep that from happening.'” (Bey, Chicago Sun-Times, 1/20/26)

Preservation Chicago has been leading the effort at building court and has attended every hearing in person to advocate on behalf of this very important house by a very important architect in very distressed condition. Due to holes in the roof and broken windows, water has been able to penetrate into the home. Vandalism and vagrancy also remain an ongoing problem and threat. We welcome the new ownership and are optimistic that Fannie Mae will quickly provide the appropriate maintenance necessary to stabilize and protect the home.

During this vulnerable stage, we check on the house often and have frequency requested that the judge order the property manager to replace dislodged tarps and to secure damaged board-ups. During the most recent court hearing, we requested an accelerated timeframe for the stabilization work and another court hearing to ensure compliance.

We were disappointed by the lender’s decision to try to maximize profits when time is of the essence to transfer the Walser House into the hands of a local developer with the means and motivation to quickly stabilize and restore this home.

The current intense phase is the culmination of many years of monitoring the deteriorating condition of this important house and advocating for its stabilization and restoration. Our extensive experience working in neighborhoods of disinvestment has proven to be a very important component in working through many challenges. Hard work remains ahead, but we remain cautiously optimistic by the progress that is being made.

J.J. Walser Jr. House is a Preservation Chicago 2025 Chicago 7 Most Endangered. Preservation Chicago has been working very closely with stakeholders to try to bring about a successful outcome for the Walser House including the potential restoration buyers and preservation partners including the Frank Lloyd Wright Building Conservancy, Landmarks Illinois and other community organizations.

• Read the full story at Chicago Sun-Times
• Fannie Mae takes ownership of long-suffering West Side Frank Lloyd Wright home; “It’s good news now that the building is out of the mess of the foreclosure process, and now, we’ve got a clear path to possible ownership for somebody to take this on,” Barbara Gordon, executive director of the Frank Lloyd Wright Building Conservancy, said, Lee Bey, Chicago Sun-Times, 1/20/26
• Listing for dilapidated Wright home in Austin is a scam, Home now owned by Fannie May, a federal agency, Lacey Sikora, Austin Weekly News, 1/22/26
• Listing for decrepit Frank Lloyd Wright house is not legit, Dennis Rodkin, Crain’s Chicago Business, 1/20/26
• Illegitimate listing pops up for Frank Lloyd Wright house: Crain’s Daily Gist podcast, Crain’s Chicago Business, 1/22/26
• Zillow ghost listing briefly puts Frank Lloyd Wright landmark “for sale”; Bogus $350K asking price underlies legal limbo surrounding Chicago house, The Real Deal, 1/21/26
• Frank Lloyd Wright home in Austin auctioned to lender after would-be rescuers edged out, Dennis Rodkin, Crain’s Chicago Business, 12/1/25
• J.J. Walser House, a Preservation Chicago 2025 Chicago 7 Most Endangered
• Historic Frank Lloyd Wright Home Added to List of Endangered Architecture in Chicago; The J.J. Walser Jr. House, one of five Wright-designed homes in the city, has fallen into disrepair, prompting calls for preservation, Ella Jeffries, Smithsonian Magazine, 3/18/25
• Dilapidated Wright home in Austin makes list of most endangered Chicago buildings; Architect’s only home on the West Side in jeopardy, Lacey Sikora, Austin Weekly News, 3/10/25
• A wronged Wright on Chicago’s West Side could receive long-needed repairs; Preservationists see the correction of building code violations at the Walser House as a critical first step toward the early Frank Lloyd Wright home being saved and reused, Lee Bey, Chicago Sun-Times, 3/25/25
• A Frank Lloyd Wright Home Lands on a List of the Most Endangered Historic Buildings, Located in Chicago, the monumental Prairie-style residence has been unoccupied for six years, Katherine McLaughlin, Architectural Digest, 3/12/25
• Early Frank Lloyd Wright Home Lands on List of Endangered Buildings; “Every part of this house needs attention,” the Frank Lloyd Wright Building Conservancy said., Richard Whiddington, Artnet News, 3/14/25
• A rare Frank Lloyd Wright home left abandoned and in ruins has landed on a list of ‘endangered’ architectural treasures; Mary K. Jacob, New York Post, 3/19/25