Even before Thanksgiving people were posting the popular meme, What Kevin McAllister’s dad did. It’s floated around for a few years and now that we are officially to the Holiday season, I am curious. I did a little research, discovered the value of the house, what the current owner does, how much it costs to maintain it, what you might have to make and backed into a couple of jobs. Here is the breakdown.
The House Today
For simplicity and not wanting to deal with inflation, let’s look at the house today.
Today the house has an estimated market value from the Cook County Assessors of $1.5 million. The median price of a home in the suburban Chicago town of Winnetka is $992,500. The median income in the neighborhood is $218,542. Oh, and in 2015, Winnetka was the second richest town in America.
The current owner works in Finance. He has been a CFO of a bank and is currently a partner at a financial advisory service. Dare I say a prominent businessman. Trust me on this, to maintain their privacy I have omitted the research links.
What it would take to own it today
If you bought that house for $1.5 Million and put $300K down, then your payment would be about $6,300 per month. Don’t forget another $1600 per month for taxes and insurance.
The house is 4,243 square feet and built in 1920. It’s really big and really old, close to 100 years old, so they’ll be plenty of upkeep. For maintenance, upkeep and cost of utilities, you’ll need to tack on another $3000 per month.
Oh, don’t forget lawn care, a gardener and exterior decorator to replicate those sweet Christmas lights from the movie.
Better plan on $11K per month just to own and properly maintain the McAllister’s House.
So how much did Kevin’s dad make?
Since Peter (Kevin’s dad) was able to take his whole extended family on vacations and was pretty chill throughout the movie, I am guessing he wasn’t house poor or worried about making ends meet. Based on that, let’s say his mortgage and total cost of keeping the home was only 1/3 his take-home pay.
That would mean he is bringing in $33K per month after taxes or $396,000 per year. That’s $575,000 pretax, in today’s money.
So what did he do?
Today a CFO in Winnetka, IL could make $300,000 to $485,000 and a CEO would range from $625K to $1 million, according to Salary.com. Before doing any research, I would have guessed Peter was a CEO or CFO or perhaps a business owner. In fact, according to Todd Strasser who wrote the novel based on the movie, Peter is a prominent businessman and Kate (Kevin’s mom) is a fashion designer. Today a fashion desginer in Winnetka could make around $100K per year.
It’s completely plausible that Peter and Kate could have a combined income of $575K or more, live in that huge house, the whole reason Harry and Marv started working the block, and a Paris vacation for everyone.
Keep the change ya filthy animal.