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MILWAUKEE — The story seems like a modern Mad Lib: A house near the Green Bay Packers’ Lambeau Field is being sold by a former Facebook executive for $1 million in cryptocurrency, including bitcoin, using blockchain technology.
The house at 910 Stadium Drive is just south of Lambeau in Ashwaubenon. Yes, its backyard actually touches the stadium’s parking lot. The house on less than a quarter-acre has three bedrooms and, with Wisconsin tailgating in mind, a bar.
The house is listed for $1 million in cryptocurrency on Propy, a real estate marketplace that uses blockchain technology.
“Approximately 150 feet away from the most famous football stadium in the world, The Packer Party House allows guests to feel as though they are right in the center of the best tailgate partying in all of sports while having all of the comforts this 3 bedroom home has to offer,” the listing reads.
More: Asking price for Packers’ party house? $1 million
More: Bitcoin Price: Digital currency had big swings in 2017
The seller: Chris Murphy, a former Facebook executive. His company, FinPar LLC, owns the home. He uses the house to host tailgates for friends and family. Murphy grew up in Green Bay and is a lifelong Packers fan — his family has had season tickets for generations. He remembers riding his bike over to Lambeau Field as a kid.
Murphy expects the house to sell within four months.
The $1 million price tag is about four times the home’s value. The property is assessed at $236,400. Murphy, who thinks he will accept either bitcoin or ethereum for the sale, bought the home in 2011 for $285,000.
It’s not the first Lambeau-adjacent home to have a million-dollar price tag. In September, a two-bedroom, two-bathroom home on Shadow Lane was listed for $999,000.
Now why would any fan of the Green and Gold want to sell a Lambeau property?
Murphy wants to push blockchain forward and use the sale of the house to draw attention to the technology. He also plans to invest proceeds from the sale into blockchain technologies.
Propy said it will be the first home sale to use blockchain technology in the United States. While blockchain is most often talked about in terms of cryptocurrency, the technology has more applications. Propy uses blockchain’s ledger of transaction data shared among users in what it calls “smart contracts.”
Propy said it completed the first real estate transaction of its blockchain network in September. The San Francisco-based startup facilitated the sale of a $60,000 apartment in Ukraine to TechCrunch founder Michael Arrington. For Propy, the idea of using blockchain is to ease the problems of purchasing property across borders.
Other properties have been listed and sold in bitcoin. Brown Harris Stevens, a luxury residential real estate firm, sold a home for bitcoin in 2014. Even then, a real estate agent for the firm wrote in the Miami Herald that it was not the first transaction of its kind.
Follow Sarah Hauer on Twitter: @SarahHauer