This $5 million Toronto home hasn't been on the market since the 60s
In 1966, the average price of a home in the Greater Toronto Area (GTA) was just $21,360.
Just keep that in mind since that was the last time 2 Chieftain Cres. was on the market.
According to the listing, this house has been home to a prominent Toronto builder and their family since 1966. The family room with a fireplace.
Now, 2 Chieftain Cres. has been listed for $5,100,000.
So quick math: if it was bought for the average price, that would be almost a 24,000 per cent increase on the investment.
Makes sense why Boomers are so obsessed with housing...
Regardless, 58 years later, this home is still a beauty.
Boasting over 5,000 square feet of living space, this home is a testament to solid craftsmanship.
When you walk into the home you enter into a grand hall.
The main floor has tons of natural light and plenty of character.
From the terracotta tile floors to the wood panelling to the exposed brick and wood beams to the mid-century built-ins, there's more than enough charm to make you fall in love.
The main family room even has heritage wood moldings that were salvaged from the old Chorley Park Mansion of Toronto.
There's more Chorley Park Mansion moulding in the basement, too.
Also on the main floor is the kitchen, which is maybe the least exciting room of the house with the beige cabinets and dated white appliances.
But it has a good layout and enough space for a dining table.
2 Chieftain Cres. has four bedrooms and five bathrooms.
As for outdoor space, the backyard has a pool and lots of trees.
It's also worth mentioning that 2 Chieftain Cres. is also in a very desirable location. In fact, homes in this area sell for an average of $4.2 million.
But the $5.1 million asking might be a bit steep given the home needs a bunch of updating and they've already had to drop the price.
Earlier this year, they reduced 2 Chieftain Cres. almost $300K from their initial listing price of $5,399,500 when it didn't get any bites after 116 days on the market.
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