Chicago (US), Oct.27 (ANI): Real estate agents have put a 1.85 million US dollar price tag on a house located next door to US President Barack Obama’s Chicago home after failing to sell the property.The 5040 South Greenwood Avenue building, a 17-room, 6,000 square feet brick-fronted house, is in need of renovation, reports The Australian.

Owners Bill and Jacky Grimshaw put it up for sale for an unspecified price in September, as they hoped to cash in on ‘the Obama factor’.

But neither the Grimshaws, who have owned the home since 1973, nor real estate agent, Matt Garrison, knew how to value a building located next to the home of the 44th American President.

After more than a month of little interest, a price has been set and the home has been listed on the local market.

The Grimshaws paid just 35,000 dollars for the property when they bought it back in 1973. The first family paid 1.65 million dollars for their home in 2005. (ANI)