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Ravenswood home where Abbott Laboratories began is listed for $3.4 million

A 7,000-square-foot, Queen Anne-style house in Ravenswood that was built by Abbott Laboratories founder Wallace Abbott was listed on Tuesday for $3.449 million.

Built in 1891, the three-story, 17-room house was purchased by its current owners, Robert and Kathryn Craig, in 2011 for $1.606 million. The couple set about renovating and modernizing the house, constructing an attached two-car garage with an eight-cubby mudroom and a heated floor. The owners also overhauled the backyard, adding landscaping including indigenous plants. They also installed a brick paver patio and energy-efficient systems, including new air conditioning, a new hot water boiler and tank, solar panels and extensive insulation.

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Other recent renovations include modernizing the master suite, kitchen, dining room and basement, and renovating the 1,400-square-foot carriage house, which has two bedrooms, two baths, a kitchen, a dining room and a family room.

"This Victorian mansion not only looks magnificent but it houses so much history within its walls," said listing agent Sara McCarthy of Coldwell Banker, who is co-listing the property with Julie Dorger. "It's truly one of a kind with a lot that has been updated with modern enhancements focused on sustainability, while offering suburban amenities in a fantastic city location. It really is the perfect combination of classic elegance and contemporary convenience."

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Abbott founded Abbott Laboratories in the house's basement and lived there until his death in 1921. Abbott Laboratories actually bought the house through a land trust in 2004 for $1.5 million to ensure its preservation, and the company has constructed a replica of the home on its campus in North Chicago.

Abbott Laboratories then sold the house in 2006 for $1.95 million.

"The sellers have put extensive work into it by modernizing it with many home energy efficiency components, such as a solar panel system, state-of-the-art hot water heating boiler and tank system, as well as insulation in the attic cap and basement perimeter," McCarthy said.

Bob Goldsborough is a freelance reporter.

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