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Former Drake University Fraternity House Sparks Real-Estate Buzz in Des Moines

  //house-home.news-articles.net/content/2025/12/0 .. house-sparks-real-estate-buzz-in-des-moines.html
  Published in House and Home on Monday, December 1st 2025 at 6:22 GMT by Des Moines Register

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Former Drake University Fraternity House Sparks Real‑Estate Buzz in Des Moines

On December 1, 2025, the Des Moines Register’s business desk released a story that captured the attention of both local buyers and alumni alike: a former fraternity house on the Drake University campus is now on the market. The piece—titled “Former Drake University Fraternity House for Sale”—offers an in‑depth look at a property steeped in campus lore, its current state, and why it’s attracting interest from a surprisingly broad pool of prospective owners.

The Property in Detail

The house sits on a roughly 0.5‑acre parcel on the north side of the campus, just a block from the university’s academic core. In the Register’s report, the home is described as a classic mid‑century colonial, 3,200 sq ft of finished living space, built in the late 1960s when Greek life was at its peak. Four bedrooms and two and a half bathrooms give it a flexible layout that can accommodate a growing family, a rental unit, or an office space for a small business.

Key features highlighted in the article include:

• Open‑concept living area with a vaulted ceiling and large windows that provide plenty of natural light.
• A spacious kitchen complete with an island and stainless‑steel appliances that appeal to home‑cooking enthusiasts.
• A finished basement that was previously a shared study lounge for fraternity members, now reconfigured as a private entertainment room.
• A landscaped backyard that contains a patio, pergola, and a small pond, creating a serene outdoor retreat.
• An attached two‑car garage and an additional storage shed in the yard, useful for equipment or seasonal gear.

While the Register’s photo carousel shows the house in good condition, it also flags several areas that may require attention. “The roof, installed in 1972, will need replacing in the next 5 years,” the article notes, citing a recent inspection report. “The original HVAC system is dated, and the upstairs windows are single‑pane.” Despite these potential maintenance costs, the property remains priced competitively for the Des Moines market.

From Fraternity House to Private Home

The Register’s narrative traces the building’s lineage back to its days as the home of the Beta Theta Pi fraternity. The house was first occupied by the fraternity in 1968, shortly after the organization’s 150‑year anniversary. It served as a social hub for campus members until 2023, when the fraternity’s leadership announced a move to a new, more modern residence closer to the campus’ east side. The reasons cited were twofold: a desire to modernize the living space and to reduce operating costs in a shifting student‑housing landscape.

The article quotes former fraternity president James Harris, who explained that the decision to vacate stemmed from an inability to upgrade the house’s aging infrastructure to meet contemporary safety standards. “We love the tradition, but we also want to ensure that our members are in a safe, comfortable environment,” Harris said. “Sometimes that means making tough choices.”

After the fraternity’s departure, the property lay largely vacant. The university’s facilities department considered converting the house into a student‑enrichment center, but budget constraints and a shift in strategic priorities led to the decision to sell.

The Sale Process and Market Context

The house is listed on the market through Real Estate 21, the brokerage that specializes in institutional sales in the Des Moines area. The listing price—$335,000—places it in the mid‑range of comparable properties in the neighborhood. In a recent interview, the listing agent, Maria Lopez, underscored the property’s “strategic location” and “potential for a diverse buyer profile.” Lopez noted that “the house’s close proximity to Drake’s academic buildings, coupled with its ample yard, makes it attractive to both families and entrepreneurs.”

The Register’s report includes a chart of recent sales in the surrounding zip code, indicating that the median price per square foot is currently $155, a slight uptick from the same period last year. Lopez says that “the campus community’s preference for walkable, mixed‑use neighborhoods is driving demand.”

An interesting footnote in the article points out that the house’s lot size is larger than most nearby single‑family homes, which could appeal to buyers looking to create a larger estate or add a second dwelling on the property. The listing even mentions the possibility of zoning rezoning for a small “ADU” (Accessory Dwelling Unit), a feature that has gained traction in Des Moines as part of the city’s affordable housing strategy.

Beyond the Sale: Greek Life and Campus Real Estate

While the primary focus of the Register’s piece is the sale itself, the story also weaves in a broader narrative about the evolution of Greek life at Drake University. The article links to a separate piece detailing the university’s 2024 campus master plan, which outlines plans for new student‑housing complexes and a shift toward more flexible living arrangements. The sale of the former fraternity house is presented as part of a larger institutional trend to repurpose older campus properties.

One of the linked articles includes an interview with the university’s Director of Campus Development, Dr. Karen Whitfield. She explains that “we’ve had to make difficult choices to modernize our facilities while maintaining a strong sense of tradition.” The former fraternity house’s sale, she notes, “is a tangible example of how we’re balancing heritage with practical needs.”

The Register’s reporting also highlights how the property’s sale aligns with Des Moines’ broader real‑estate trends. In a small digression, the article cites a city‑wide report that projects a 3.5 % increase in residential sales over the next year, driven largely by demand for properties with “spacious yards and easy access to amenities.” The former fraternity house, with its sizable lot and proximity to university amenities, is poised to benefit from these trends.

What Buyers Can Expect

According to the article, interested buyers will be required to undergo a standard property inspection and are encouraged to review the building’s maintenance history. The listing agent stresses that the house offers “a solid foundation” and that “many of the structural components are still in good condition.” She also points out that the house’s “architectural character” and “historic charm” provide a unique selling point that modern builds often lack.

Buyers who are alumni of Drake’s Greek system—or who have sentimental ties to the campus—may find the property particularly appealing. Meanwhile, developers looking for a sizeable residential property near a major university might see this as an attractive opportunity to create a boutique apartment complex or a mixed‑use development.

Bottom Line

The Des Moines Register’s coverage of the former Drake University fraternity house for sale goes beyond the surface details of the listing. It situates the property within the context of campus evolution, local real‑estate dynamics, and the ongoing conversation about how universities manage aging assets. Whether the house will become a family home, a small business space, or a new student‑housing hub remains to be seen, but its sale marks a pivotal moment in the university’s physical and cultural landscape. As the market for unique, historically rich properties continues to grow in Des Moines, the former fraternity house stands as a testament to the city’s blend of tradition and forward‑thinking development.