Cookies?
Library Header Image
LSE Research Online LSE Library Services

Valuing iconic design: Frank Lloyd Wright architecture in Oak Park, Illinois

Ahlfeldt, Gabriel M. and Mastro, Alexandra (2012) Valuing iconic design: Frank Lloyd Wright architecture in Oak Park, Illinois. Housing Studies, 27 (8). pp. 1079-1099. ISSN 0267-3037

[img]
Preview
PDF
Download (4Mb) | Preview

Abstract

This study investigates the willingness of homebuyers to pay for co-location with iconic architecture. Oak Park, Illinois was chosen as the study area given its unique claim of having 24 residential structures designed by world-famous American architect Frank Lloyd Wright, in addition to dozens of other designated landmarks and three preservation districts. This study adds to the limited body of existing literature on the external price effects of architectural design and is unique in its focus on residential architecture. We find a premium of about 8.5% within 50-100m of the nearest Wright building and about 5% within 50-250m. These results indicate that an external premium to iconic architecture does exist, although it may partially be attributable to the prominence of the architect

Item Type: Article
Official URL: http://www.tandf.co.uk/journals/titles/02673037.as...
Additional Information: © 2012 Taylor & Francis
Library of Congress subject classification: H Social Sciences > HC Economic History and Conditions
N Fine Arts > NA Architecture
Sets: Departments > Geography and Environment
Research centres and groups > Spatial Economics Research Centre
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 04 May 2012 13:12
URL: http://eprints.lse.ac.uk/43470/

Actions (login required)

Record administration - authorised staff only Record administration - authorised staff only

Downloads

Downloads per month over past year

View more statistics