In 1966, the average price of a home in the Greater Toronto Area (GTA) was just $21,360.
Remember this because that was the last time 2 Chieftain Cres. was on the market.
According to the listing, this house has been home to a well-known Toronto builder and his family since 1966. The family room with fireplace.
Well, 2 Chief Cres. was listed for $5,100,000.
The kitchen with integrated appliances.
So do a quick calculation: If you bought it at the average price, that would be an almost 24,000 percent increase in investment.
The dining room.
It makes sense why boomers are so obsessed with housing…
The family room features wood paneling and built-ins.
Regardless, this home is still a beauty 58 years later.
One of the bedrooms.
With over 5,000 square feet of living space, this home is a testament to solid craftsmanship.
The foyer.
When you enter the house you enter a large hall.
The virtually staged living room.
The ground floor has tons of natural light and lots of character.
Original wooden beams and exposed brick give the house character.
From the terracotta tile floors to the wood paneling and exposed brick and wood beams to the mid-century built-ins, there is more than enough charm to make you fall in love.
The main family room leading to the backyard.
The main family room even features historic wood moldings salvaged from the old Chorley Park Mansion in Toronto.
The lounge in the basement.
There is also more molding from Chorley Park Mansion in the basement.
The kitchen.
Also on the main floor is the kitchen, which is perhaps the least exciting room in the house with its beige cabinets and dated white appliances.
The breakfast nook next to the kitchen.
But it has a good layout and enough space for a dining table.
The master bedroom.
2 Chief Cres. has four bedrooms and five bathrooms.
The backyard.
As for the outdoor space, there is a pool and lots of trees in the backyard.
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.
The main bathroom.
But the asking $5.1 million might be a bit steep considering the home needs extensive updating and the price has already had to be reduced.
The front garden.
At the beginning of the year they reduced 2 Chieftain Cres. nearly $300,000 from its original listing price of $5,399,500 when it got no bites after 116 days on the market.