PHILADELPHIA—The Esherick House, a 1959-61 private home designed by architect Louis Kahn for Margaret Esherick, the niece of sculptor Wharton Esherick, failed to sell at auction yesterday, the Philadelphia Inquirer reports. The house was the sole lot in Chicago auction house Wright's Important Design sale.

Auctioneer Richard Wright cited the declining economy, rather than the struggling housing market, as the potential reason. The house, which is situated in the Chestnut Hill neighborhood in Philadelphia, was estimated at $2 to $3 million. Wright said that there were several interested parties and that he plans to reach out to them personally in order to sell the home at a lower price.