Pope Leo XIV's Humble Beginnings and Financial Troubles: Stuart Varney
Childhood residence of Pope Leo XIV in Illinois taken off real estate listings
Stuart Varney from 'Varney & Co.' dives into the financial woes confronting the new Pope Leo XIV.
With Pope Leo XIV in office, the real estate market is under his microscope.
Born Robert Prevost in Chicago, the new Pope grew up in the nearby suburb of Dolton, Illinois. His childhood home, which once housed drug dealers according to the NY Post, was listed for sale in May 2024 for $66,000, later selling for $219,000 post-renovation. In January of this year, it was listed once more for $219,000 on Zillow. However, the listing was pulled yesterday, following Robert Prevost's appointment as the latest - and first American - Pope.
*GET TO KNOW POPE LEO XIV, THE FIRST AMERICAN POPE*
Pope Leo XIV's childhood home in Dolton, Illinois, on May 8, 2025. St. Mary of the Assumption served as the church for Pope Leo's early life. (Photo by Jim Vondruska/Getty Images) (Getty Images)
According to the Post, the home's new owner intended to sell it for a higher price or transform it into a museum or national landmark.
The cozy brick house, originally built in 1949, features 1.5 bathrooms and three bedrooms. Prior to renovation, the home was 750 square feet, but post-renovation, its size was listed as 1,200 square feet due to the conversion of the basement into living space and the addition of central heating and air conditioning.
Pope Leo attended Villanova University in Pennsylvania for his college education, securing a mathematics degree as part of the class of 1977. He holds a Master of Divinity from the Catholic Theological Union and a doctorate from the Pontifical College of St. Thomas Aquinas, situated in his hometown of Chicago, according to the Cardinals Report.
Pope Leo became a priest in 1982 and spent numerous years serving in Peru, including as Bishop of Chiclayo. Additionally, he held several positions in Chicago during his clerical career, as per the Cardinals Report. Prior to his election as Pope on Thursday, he had been a cardinal for over a year and a half. During his tenure, he served as the president of the Vatican's Pontifical Commission for Latin America and the prefect of the Dicastery for Bishops, positions bestowed upon him by Pope Francis in early 2023.
Francis passed away on April 21, setting off the conclave in which the Church's cardinals ultimately elected Leo XIV as the 267th Pope to succeed him.
Pope Leo's brother, John Prevost, spoke to "Good Morning America" on Friday morning, sharing that "from the time [Pope Leo] was five or six years old, he knew this was his fate, not that he would be a pope, but that he would be a priest."
*POPE LEO XIV'S FIRST HOMILY AS PONTIFF, A POWERFUL REFLECTION ON THE CRISIS OF FAITH*
"He knew that from a very young age, and his idea never faltered all through grammar school, high school, college," Prevost said of his brother.
Chicago Mayor Brandon Johnson released a statement reacting to the Chicago native's appointment as the head of the Catholic Church, stating, "This is a tremendous moment for our Catholic community and for all Chicagoans. God Bless Chicago. God bless Pope Leo XIV."
Navigating Pope Leo's Financial Turmoil
The new Pope inherits a complex financial situation, with challenges like budget deficits, pension fund shortfalls, decreased donations, and rising staff costs. To address these issues, he may continue the financial reforms initiated by Pope Francis, including implementing cost-cutting measures, improving financial management, making strategic leadership appointments, and potentially reviewing the pension fund's structure for sustainability.
- The real estate market is under the microscope with Pope Leo XIV in office, as his childhood home in Dolton, Illinois was recently listed for sale.
- Born Robert Prevost in Chicago, Pope Leo XIV grew up in a cozy brick house featuring three bedrooms, originally built in 1949.
- Entertainment personalities and celebrities have shown interest in the Pope's childhood home, with plans to sell it for a higher price or transform it into a museum or national landmark.
- Navigating Pope Leo's financial turmoil, he may continue the financial reforms initiated by Pope Francis, addressing issues like budget deficits, decreased donations, and rising staff costs through cost-cutting measures, improved financial management, strategic leadership appointments, and a potential review of the pension fund's structure.
